SSgA SPDR Correlations

SSDRF Etf

USD 89.84 2.08 2.37%

The correlation of SSgA SPDR 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.

SSgA SPDR Correlation With Market

Weak diversification

The correlation between SSgA SPDR ETFs and DJI is 0.34 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding SSgA SPDR ETFs 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 SSgA SPDR ETFs. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in metropolitan statistical area.

Moving together with SSgA Pink Sheet

0.84	VTI	Vanguard Total Stock	Pair Corr
0.89	SPY	SPDR SP 500	Pair Corr
0.89	IVV	iShares Core SP	Pair Corr
0.9	VUG	Vanguard Growth Index	Pair Corr
0.89	VO	Vanguard Mid Cap	Pair Corr
0.86	VB	Vanguard Small Cap	Pair Corr
0.8	WGMI	Valkyrie Bitcoin Miners	Pair Corr
0.8	AXP	American Express	Pair Corr
0.76	BA	Boeing	Pair Corr
0.61	JPM	JPMorgan Chase	Pair Corr

Moving against SSgA Pink Sheet

0.62	PMBS	PIMCO Mortgage Backed	Pair Corr
0.58	IDOG	ALPS International Sector	Pair Corr
0.53	FXY	Invesco CurrencyShares	Pair Corr
0.52	BND	Vanguard Total Bond Sell-off Trend	Pair Corr
0.5	AMPD	Tidal Trust II	Pair Corr
0.5	MCD	McDonalds	Pair Corr
0.36	VEA	Vanguard FTSE Developed	Pair Corr
0.63	VZ	Verizon Communications Sell-off Trend	Pair Corr
0.55	TRV	The Travelers Companies	Pair Corr
0.4	JNJ	Johnson Johnson Sell-off Trend	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		-0.23	0.69	-0.47	0.5	0.31	0.07	0.89	-0.78	0.2	META
MSFT	-0.23		-0.65	0.44	-0.75	0.62	0.88	-0.08	0.54	-0.16	MSFT
UBER	0.69	-0.65		-0.51	0.8	-0.22	-0.56	0.62	-0.86	0.42	UBER
F	-0.47	0.44	-0.51		-0.27	0.21	0.3	-0.37	0.66	0.25	F
T	0.5	-0.75	0.8	-0.27		-0.51	-0.65	0.32	-0.7	0.39	T
A	0.31	0.62	-0.22	0.21	-0.51		0.72	0.54	0.15	0.04	A
CRM	0.07	0.88	-0.56	0.3	-0.65	0.72		0.16	0.36	-0.19	CRM
JPM	0.89	-0.08	0.62	-0.37	0.32	0.54	0.16		-0.67	0.23	JPM
MRK	-0.78	0.54	-0.86	0.66	-0.7	0.15	0.36	-0.67		-0.24	MRK
XOM	0.2	-0.16	0.42	0.25	0.39	0.04	-0.19	0.23	-0.24		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	+ 0.89	META
CRM	+ 0.88	MSFT
T	+ 0.8	UBER
CRM	+ 0.72	A
UBER	+ 0.69	META
MRK	+ 0.66	F

High negative correlations

MRK	- 0.86	UBER
MRK	- 0.78	META
T	- 0.75	MSFT
MRK	- 0.7	T
MRK	- 0.67	JPM
CRM	- 0.65	T

SSgA SPDR Competition Risk-Adjusted Indicators

There is a big difference between SSgA Pink Sheet performing well and SSgA SPDR Company 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 SSgA SPDR'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
META	1.59	0.08	0.00	(0.03)	0.00	0.00	2.57	(3.59)	8.90
MSFT	1.10	(0.12)	0.00	(0.30)	0.00	0.00	2.58	(2.14)	10.31
UBER	1.92	0.20	0.10	0.28	2.38	(2.01)	4.72	(3.30)	12.75
F	1.42	0.05	0.00	(0.06)	0.00	0.00	2.71	(2.89)	10.14
T	1.07	0.24	0.16	0.33	1.64	(1.12)	1.90	(2.12)	11.66
A	1.16	(0.12)	0.00	(0.23)	0.00	0.00	2.92	(2.59)	9.03
CRM	1.45	(0.26)	0.00	(0.35)	0.00	0.00	2.72	(3.81)	8.88
JPM	1.10	0.04	0.00	(0.08)	0.00	0.00	1.99	(3.35)	6.85
MRK	1.21	(0.12)	0.00	1.56	0.00	0.00	2.08	(2.24)	11.57
XOM	1.04	0.04	0.07	(0.02)	1.37	(1.07)	2.55	(2.36)	5.89

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