SPDR SP Correlations

WDIV Etf

USD 66.25 0.05 0.08%

The current 90-days correlation between SPDR SP Global and SPDR SP Emerging is 0.67 (i.e., Poor 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

Good diversification

The correlation between SPDR SP Global and DJI is -0.01 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding SPDR SP Global and DJI in the same portfolio, assuming nothing else is changed.

Check out Your Current Watchlist to better understand how to build diversified portfolios, which includes a position in SPDR SP Global. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in gross domestic product.

Moving together with SPDR Etf

0.94	GCOW	Pacer Global Cash	Pair Corr
0.74	DGT	SPDR Global Dow	Pair Corr
0.87	DEW	WisdomTree Global High	Pair Corr
0.83	ASET	FlexShares Real Assets	Pair Corr
0.67	MYMH	SPDR SSGA My2028	Pair Corr
0.79	AGQI	First Trust Exchange	Pair Corr
0.83	VEMGF	Vanguard Funds Public	Pair Corr
0.86	UTWY	US Treasury 20	Pair Corr
0.63	PG	Procter Gamble	Pair Corr
0.63	MCD	McDonalds	Pair Corr
0.75	VZ	Verizon Communications	Pair Corr

Moving against SPDR Etf

0.78	GBTC	Grayscale Bitcoin Trust	Pair Corr
0.77	PFIX	Simplify Interest Rate Potential Growth	Pair Corr
0.76	FNGO	MicroSectors FANG Index	Pair Corr
0.74	USD	ProShares Ultra Semi	Pair Corr
0.72	FNGU	MicroSectors FANG Index Symbol Change	Pair Corr
0.69	GUSH	Direxion Daily SP	Pair Corr
0.61	FCG	First Trust Natural	Pair Corr
0.52	DUSL	Direxion Daily Indus	Pair Corr
0.68	AXP	American Express	Pair Corr
0.47	CAT	Caterpillar	Pair Corr
0.46	HPQ	HP Inc	Pair Corr
0.46	BA	Boeing	Pair Corr
0.46	DIS	Walt Disney	Pair Corr
0.4	JPM	JPMorgan Chase Sell-off Trend	Pair Corr
0.37	MSFT	Microsoft	Pair Corr
0.36	AA	Alcoa Corp	Pair Corr

Related Correlations Analysis

	EDIV	FGD	DVYA	DVYE	RDIV
EDIV		0.89	0.75	0.95	0.51	EDIV
FGD	0.89		0.63	0.95	0.32	FGD
DVYA	0.75	0.63		0.74	0.54	DVYA
DVYE	0.95	0.95	0.74		0.38	DVYE
RDIV	0.51	0.32	0.54	0.38		RDIV
	EDIV	FGD	DVYA	DVYE	RDIV

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

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
EDIV	0.50	0.06	0.21	(4.84)	0.54	(0.55)	0.91	(0.75)	2.93
FGD	0.53	0.16	0.34	5.70	0.41	(0.62)	1.42	(0.97)	2.96
DVYA	0.50	0.02	0.15	(0.61)	0.57	(0.56)	1.00	(0.96)	3.52
DVYE	0.59	0.11	0.25	(2.12)	0.56	(0.62)	1.27	(0.93)	4.70
RDIV	0.70	0.02	0.08	0.27	1.00	(0.68)	1.36	(1.49)	4.62

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC