SPDR Portfolio Correlations

SPYG Etf

USD 82.26 0.25 0.30%

The current 90-days correlation between SPDR Portfolio SP and FT Vest Equity is 0.91 (i.e., Almost no diversification). The correlation of SPDR Portfolio 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.

SPDR Portfolio Correlation With Market

Poor diversification

The correlation between SPDR Portfolio SP and DJI is 0.62 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding SPDR Portfolio SP 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 Portfolio SP. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in manufacturing.

Moving together with SPDR Etf

0.99	VUG	Vanguard Growth Index	Pair Corr
0.99	IWF	iShares Russell 1000	Pair Corr
1.0	IVW	iShares SP 500	Pair Corr
1.0	IUSG	iShares Core SP	Pair Corr
0.99	VONG	Vanguard Russell 1000	Pair Corr
0.99	MGK	Vanguard Mega Cap	Pair Corr
0.99	VRGWX	Vanguard Russell 1000	Pair Corr
0.99	QQQM	Invesco NASDAQ 100	Pair Corr
0.98	IWY	iShares Russell Top	Pair Corr
0.84	WGMI	Valkyrie Bitcoin Miners	Pair Corr
0.87	HPQ	HP Inc	Pair Corr
0.93	AXP	American Express	Pair Corr
0.71	WMT	Walmart	Pair Corr
0.65	CAT	Caterpillar	Pair Corr
0.68	AA	Alcoa Corp	Pair Corr
0.74	MSFT	Microsoft	Pair Corr
0.87	BAC	Bank of America	Pair Corr

Moving against SPDR Etf

0.66	PMBS	PIMCO Mortgage Backed	Pair Corr
0.62	AMPD	Tidal Trust II	Pair Corr
0.61	JNJ	Johnson Johnson	Pair Corr
0.6	FXY	Invesco CurrencyShares	Pair Corr
0.5	T	ATT Inc Earnings Call Tomorrow	Pair Corr
0.73	TRV	The Travelers Companies	Pair Corr
0.68	VZ	Verizon Communications	Pair Corr
0.54	KO	Coca Cola	Pair Corr
0.41	XOM	Exxon Mobil Corp	Pair Corr
0.33	CVX	Chevron Corp	Pair Corr

Related Correlations Analysis

	DHDG	MBCC	DIHP	DJAN	MDLV	DJUL	DJUN	SH	VV
DHDG		0.94	-0.03	0.86	0.04	0.96	0.95	-0.91	0.96	DHDG
MBCC	0.94		0.16	0.8	0.24	0.9	0.9	-0.8	0.87	MBCC
DIHP	-0.03	0.16		-0.32	0.95	-0.22	-0.23	0.41	-0.27	DIHP
DJAN	0.86	0.8	-0.32		-0.24	0.96	0.97	-0.94	0.95	DJAN
MDLV	0.04	0.24	0.95	-0.24		-0.13	-0.14	0.33	-0.2	MDLV
DJUL	0.96	0.9	-0.22	0.96	-0.13		1.0	-0.97	0.99	DJUL
DJUN	0.95	0.9	-0.23	0.97	-0.14	1.0		-0.97	0.99	DJUN
SH	-0.91	-0.8	0.41	-0.94	0.33	-0.97	-0.97		-0.99	SH
VV	0.96	0.87	-0.27	0.95	-0.2	0.99	0.99	-0.99		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
DJUN	+ 0.97	DJAN
DJUL	+ 0.96	DHDG
VV	+ 0.96	DHDG

High negative correlations

VV	- 0.99	SH
SH	- 0.97	DJUN
SH	- 0.97	DJUL
SH	- 0.94	DJAN
SH	- 0.91	DHDG
SH	- 0.8	MBCC

SPDR Portfolio Constituents Risk-Adjusted Indicators

There is a big difference between SPDR Etf performing well and SPDR Portfolio 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 Portfolio'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	0.43	(0.02)	0.00	(0.12)	0.00	0.00	0.87	(0.94)	2.86
MBCC	0.76	(0.02)	0.00	(0.09)	0.00	0.00	1.34	(2.25)	4.26
DIHP	0.59	0.11	0.17	0.15	0.68	(0.63)	1.30	(1.21)	3.71
DJAN	0.29	(0.02)	0.00	(0.13)	0.00	0.00	0.61	(0.77)	2.02
MDLV	0.57	0.07	0.12	0.08	0.83	(0.53)	1.08	(1.52)	3.33
DJUL	0.45	(0.03)	0.00	(0.12)	0.00	0.00	0.80	(1.08)	2.99
DJUN	0.49	(0.03)	0.00	(0.11)	0.00	0.00	0.88	(1.21)	3.23
SH	0.80	0.06	0.21	(0.13)	0.71	(0.94)	1.78	(1.18)	5.01
VV	0.83	(0.04)	0.00	(0.12)	0.00	0.00	1.26	(1.71)	4.56

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