SPDR SP Correlations

SPY Etf

USD 567.13 6.11 1.09%

The current 90-days correlation between SPDR SP 500 and FT Vest Equity is 0.95 (i.e., Almost no diversification). The correlation of SPDR SP 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 SP Correlation With Market

Poor diversification

The correlation between SPDR SP 500 and DJI is 0.72 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding SPDR SP 500 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 SP 500. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in american community survey.

Moving together with SPDR Etf

1.0	VTI	Vanguard Total Stock	Pair Corr
1.0	IVV	iShares Core SP	Pair Corr
0.83	VIG	Vanguard Dividend	Pair Corr
1.0	VV	Vanguard Large Cap	Pair Corr
0.89	RSP	Invesco SP 500	Pair Corr
1.0	IWB	iShares Russell 1000	Pair Corr
0.99	ESGU	iShares ESG Aware	Pair Corr
0.99	DFAC	Dimensional Core Equity	Pair Corr
1.0	SPLG	SPDR Portfolio SP	Pair Corr
0.71	WGMI	Valkyrie Bitcoin Miners	Pair Corr

Moving against SPDR Etf

0.96	PSQ	ProShares Short QQQ	Pair Corr
0.66	AMPD	Tidal Trust II	Pair Corr
0.48	MNA	IQ Merger Arbitrage	Pair Corr
0.47	BOIL	ProShares Ultra Bloomberg Buyout Trend	Pair Corr
0.45	AIVI	WisdomTree International	Pair Corr
0.43	PMBS	PIMCO Mortgage Backed	Pair Corr
0.43	AVSF	American Century ETF	Pair Corr
0.43	USTB	VictoryShares USAA Core	Pair Corr
0.4	FXY	Invesco CurrencyShares	Pair Corr
0.35	JCPB	JPMorgan Core Plus	Pair Corr
0.33	SPEU	SPDR Portfolio Europe	Pair Corr
0.32	GHTA	Collaborative Investment	Pair Corr
0.31	VGK	Vanguard FTSE Europe Sell-off Trend	Pair Corr
0.9	TWM	ProShares UltraShort	Pair Corr
0.71	DWSH	AdvisorShares Dorsey	Pair Corr
0.53	SCHO	Schwab Short Term	Pair Corr
0.5	UNL	United States 12	Pair Corr
0.49	EFNL	iShares MSCI Finland	Pair Corr
0.48	LBAY	Tidal ETF Trust	Pair Corr
0.45	CGUI	Capital Group Fixed	Pair Corr
0.42	YINN	Direxion Daily FTSE	Pair Corr

Related Correlations Analysis

	DHDG	MBCC	DIHP	DJAN	MDLV	DJUL	DJUN	SH	VV
DHDG		0.93	0.06	0.82	0.12	0.95	0.95	-0.9	0.95	DHDG
MBCC	0.93		0.26	0.76	0.32	0.88	0.88	-0.79	0.86	MBCC
DIHP	0.06	0.26		-0.24	0.94	-0.12	-0.14	0.34	-0.19	DIHP
DJAN	0.82	0.76	-0.24		-0.17	0.95	0.95	-0.9	0.93	DJAN
MDLV	0.12	0.32	0.94	-0.17		-0.05	-0.06	0.27	-0.12	MDLV
DJUL	0.95	0.88	-0.12	0.95	-0.05		1.0	-0.96	0.99	DJUL
DJUN	0.95	0.88	-0.14	0.95	-0.06	1.0		-0.96	0.99	DJUN
SH	-0.9	-0.79	0.34	-0.9	0.27	-0.96	-0.96		-0.98	SH
VV	0.95	0.86	-0.19	0.93	-0.12	0.99	0.99	-0.98		VV
	DHDG	MBCC	DIHP	DJAN	MDLV	DJUL	DJUN	SH	VV

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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

DJUN	+ 1.0	DJUL
VV	+ 0.99	DJUL
VV	+ 0.99	DJUN
DJUL	+ 0.95	DHDG
DJUN	+ 0.95	DHDG
VV	+ 0.95	DHDG

High negative correlations

VV	- 0.98	SH
SH	- 0.96	DJUN
SH	- 0.96	DJUL
SH	- 0.9	DJAN
SH	- 0.9	DHDG
SH	- 0.79	MBCC

SPDR SP Constituents Risk-Adjusted Indicators

There is a big difference between SPDR Etf performing well and SPDR SP 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 SP's 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
DHDG	0.44	(0.01)	0.00	(0.11)	0.00	0.00	0.87	(0.94)	2.86
MBCC	0.77	(0.02)	0.00	(0.12)	0.00	0.00	1.34	(2.25)	4.26
DIHP	0.60	0.13	0.22	0.16	0.69	(0.64)	1.30	(1.21)	3.71
DJAN	0.29	(0.02)	0.00	(0.16)	0.00	0.00	0.57	(0.77)	2.02
MDLV	0.57	0.07	0.14	0.07	0.83	(0.53)	1.08	(1.52)	3.33
DJUL	0.45	(0.02)	0.00	(0.13)	0.00	0.00	0.80	(1.08)	2.99
DJUN	0.48	(0.02)	0.00	(0.13)	0.00	0.00	0.88	(1.21)	3.23
SH	0.80	0.04	0.25	(0.15)	0.69	(0.95)	1.78	(1.18)	5.01
VV	0.82	(0.03)	0.00	(0.13)	0.00	0.00	1.26	(1.71)	4.56

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