SPDR Barclays Correlations

SPTS Etf

USD 29.19 0.01 0.03%

The current 90-days correlation between SPDR Barclays Short and SPDR Barclays Long is 0.63 (i.e., Poor diversification). The correlation of SPDR Barclays is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak. If the correlation is 0, the equities are not correlated; they are entirely random.

SPDR Barclays Correlation With Market

Average diversification

The correlation between SPDR Barclays Short and DJI is 0.15 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding SPDR Barclays Short 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 Short. 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	SHY	iShares 1 3	Pair Corr
0.98	LMBS	First Trust Low	Pair Corr
0.76	AGZ	iShares Agency Bond	Pair Corr
0.98	FTSD	Franklin Liberty Short	Pair Corr
1.0	UTWO	Rbb Fund	Pair Corr
1.0	XTWO	Bondbloxx ETF Trust	Pair Corr
1.0	XTRE	Bondbloxx ETF Trust	Pair Corr
0.97	TRSY	Xtrackers 0 1	Pair Corr
0.99	SLDR	Global X Short	Pair Corr
0.79	FXY	Invesco CurrencyShares	Pair Corr
0.79	PMBS	PIMCO Mortgage Backed	Pair Corr
0.79	GDXU	MicroSectors Gold Miners	Pair Corr
0.79	VZ	Verizon Communications	Pair Corr
0.68	T	ATT Inc Earnings Call Today	Pair Corr
0.64	PG	Procter Gamble	Pair Corr
0.63	MCD	McDonalds	Pair Corr
0.7	JNJ	Johnson Johnson	Pair Corr
0.7	TRV	The Travelers Companies	Pair Corr

Moving against SPDR Etf

0.58	WGMI	Valkyrie Bitcoin Miners	Pair Corr
0.63	AXP	American Express	Pair Corr
0.52	CAT	Caterpillar	Pair Corr
0.51	MSFT	Microsoft	Pair Corr
0.46	DIS	Walt Disney	Pair Corr
0.45	BA	Boeing	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		-0.04	0.59	-0.54	0.32	0.42	0.26	0.9	-0.75	-0.01	META
MSFT	-0.04		-0.62	0.09	-0.79	0.69	0.89	0.1	0.44	-0.52	MSFT
UBER	0.59	-0.62		-0.35	0.8	-0.25	-0.53	0.53	-0.85	0.54	UBER
F	-0.54	0.09	-0.35		-0.05	-0.04	-0.08	-0.39	0.56	0.31	F
T	0.32	-0.79	0.8	-0.05		-0.57	-0.71	0.17	-0.65	0.58	T
A	0.42	0.69	-0.25	-0.04	-0.57		0.79	0.62	0.1	-0.3	A
CRM	0.26	0.89	-0.53	-0.08	-0.71	0.79		0.33	0.24	-0.58	CRM
JPM	0.9	0.1	0.53	-0.39	0.17	0.62	0.33		-0.63	0.07	JPM
MRK	-0.75	0.44	-0.85	0.56	-0.65	0.1	0.24	-0.63		-0.31	MRK
XOM	-0.01	-0.52	0.54	0.31	0.58	-0.3	-0.58	0.07	-0.31		XOM
	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

JPM	+ 0.9	META
CRM	+ 0.89	MSFT
T	+ 0.8	UBER
CRM	+ 0.79	A
A	+ 0.69	MSFT
JPM	+ 0.62	A

High negative correlations

MRK	- 0.85	UBER
T	- 0.79	MSFT
MRK	- 0.75	META
CRM	- 0.71	T
MRK	- 0.65	T
MRK	- 0.63	JPM

SPDR Barclays Competition 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
META	1.59	0.02	0.00	(0.05)	0.00	0.00	2.57	(3.73)	8.90
MSFT	1.12	(0.15)	0.00	(0.28)	0.00	0.00	2.58	(2.14)	10.31
UBER	1.88	0.41	0.19	0.74	2.06	(2.04)	4.72	(3.13)	12.75
F	1.47	0.07	0.03	0.00	2.22	(1.39)	2.71	(2.89)	10.14
T	1.04	0.26	0.16	0.40	1.61	(1.11)	1.90	(1.75)	11.66
A	1.15	(0.15)	0.00	(0.23)	0.00	0.00	2.92	(2.59)	9.03
CRM	1.38	(0.27)	0.00	(0.31)	0.00	0.00	2.72	(3.81)	8.88
JPM	1.10	0.09	0.05	0.02	1.74	(1.04)	1.99	(3.35)	6.85
MRK	1.17	(0.11)	0.00	1.52	0.00	0.00	2.07	(1.80)	11.58
XOM	1.06	0.11	0.10	0.17	1.39	(1.08)	2.55	(2.36)	5.89

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