SPDR Barclays Correlations

SPTL Etf

USD 27.18 0.13 0.48%

The current 90-days correlation between SPDR Barclays Long and SPDR Barclays Short is 0.63 (i.e., Poor diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as SPDR Barclays moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if SPDR Barclays Long moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

SPDR Barclays Correlation With Market

Significant diversification

The correlation between SPDR Barclays Long and DJI is 0.08 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding SPDR Barclays Long and DJI in the same portfolio, assuming nothing else is changed.

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in SPDR Barclays Long. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in estimate.

Moving together with SPDR Etf

1.0	TLT	iShares 20 Year	Pair Corr
0.98	IEF	iShares 7 10	Pair Corr
1.0	TLH	iShares 10 20	Pair Corr
0.99	EDV	Vanguard Extended	Pair Corr
0.93	GOVZ	iShares 25 Year	Pair Corr
1.0	SCHQ	Schwab Long Term	Pair Corr
0.97	TYA	Simplify Exchange Traded	Pair Corr
0.91	FXY	Invesco CurrencyShares	Pair Corr
0.97	PMBS	PIMCO Mortgage Backed	Pair Corr
0.67	GDXU	MicroSectors Gold Miners	Pair Corr
0.78	MCD	McDonalds	Pair Corr
0.8	PG	Procter Gamble	Pair Corr
0.88	JNJ	Johnson Johnson	Pair Corr
0.87	T	ATT Inc Earnings Call Tomorrow	Pair Corr
0.89	VZ	Verizon Communications	Pair Corr
0.83	KO	Coca Cola	Pair Corr

Moving against SPDR Etf

0.73	WGMI	Valkyrie Bitcoin Miners	Pair Corr
0.57	HPQ	HP Inc	Pair Corr
0.68	MSFT	Microsoft	Pair Corr
0.65	CAT	Caterpillar	Pair Corr
0.56	AXP	American Express	Pair Corr
0.45	HD	Home Depot	Pair Corr
0.43	MRK	Merck Company	Pair Corr
0.4	DIS	Walt Disney	Pair Corr

Related Correlations Analysis

	SPTS	SPTI	SPLB	SPIB	VGLT
SPTS		0.96	0.73	0.94	0.84	SPTS
SPTI	0.96		0.87	0.98	0.95	SPTI
SPLB	0.73	0.87		0.91	0.96	SPLB
SPIB	0.94	0.98	0.91		0.95	SPIB
VGLT	0.84	0.95	0.96	0.95		VGLT
	SPTS	SPTI	SPLB	SPIB	VGLT

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SPDR Barclays Constituents Risk-Adjusted Indicators

There is a big difference between SPDR Etf performing well and SPDR Barclays ETF doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze SPDR Barclays' multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
SPTS	0.07	0.01	0.78	(1.39)	0.00	(0.09)	0.17	(0.14)	0.38
SPTI	0.20	0.03	0.37	3.29	0.13	(0.23)	0.47	(0.39)	1.12
SPLB	0.50	0.01	0.11	(0.01)	0.60	(0.49)	1.12	(0.81)	2.50
SPIB	0.16	0.02	0.40	0.30	0.09	(0.21)	0.34	(0.24)	0.92
VGLT	0.57	0.03	0.13	0.40	0.63	(0.59)	1.47	(1.07)	2.95

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