SSgA SPDR Correlations

Pink Sheets . USA . 
Etf . SSgA SPDR ETFs
SSEEF Etf  USD 77.42  0.23  0.30%   
The current 90-days correlation between SSgA SPDR ETFs and Vanguard Total Stock is 0.13 (i.e., Average diversification). 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

Modest diversification

The correlation between SSgA SPDR ETFs and DJI is 0.24 (i.e., Modest 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 income.

Related Correlations Analysis

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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
+ 0.92
CRM
CRM
+ 0.87
T
JPM
+ 0.86
T
CRM
+ 0.66
META
JPM
+ 0.58
F
MRK
+ 0.56
A
  
High negative correlations   
MRK
- 0.87
JPM
MRK
- 0.84
CRM
MRK
- 0.73
T
T
- 0.61
UBER
XOM
- 0.58
MSFT
JPM
- 0.46
A

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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
META  1.17  0.29  0.16  0.72  1.18 
(1.37)
 3.22 
(1.87)
 8.02 
MSFT  0.87  0.05  0.01  0.21  1.40 
(0.84)
 2.09 
(1.57)
 8.19 
UBER  1.85 (0.29) 0.00 (0.12) 0.00 
 0.00 
 2.69 
(5.35)
 20.41 
F  1.40 (0.13)(0.03) 0.03  2.15 
(1.41)
 2.53 
(2.79)
 11.21 
T  0.98  0.13  0.02  2.38  1.05 
(1.07)
 2.36 
(1.99)
 6.74 
A  1.22  0.03 (0.04) 0.25  1.48 
(1.28)
 2.71 
(2.41)
 9.02 
CRM  1.47  0.41  0.30  0.41  1.02 
(1.72)
 3.59 
(1.93)
 13.87 
JPM  1.00  0.07  0.13  0.15  0.90 
(1.18)
 1.73 
(1.42)
 15.87 
MRK  0.93 (0.24) 0.00 (0.80) 0.00 
 0.00 
 2.00 
(2.17)
 5.18 
XOM  0.92 (0.01)(0.07) 0.09  1.18 
(0.98)
 1.83 
(1.96)
 6.06 

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