SSgA SPDR Correlations

WTEC Etf

174.64 3.07 1.73%

The current 90-days correlation between SSgA SPDR ETFs and SSgA SPDR Barclays is -0.02 (i.e., Good 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. If the correlation is 0, the equities are not correlated; they are entirely random.

SSgA SPDR Correlation With Market

Modest diversification

The correlation between SSgA SPDR ETFs and DJI is 0.22 (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.

The ability to find closely correlated positions to SSgA SPDR could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace SSgA SPDR when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back SSgA SPDR - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling SSgA SPDR ETFs to buy it.

Moving together with SSgA Etf

0.86

QQQ5

Leverage Shares 5x

Pair Corr

Moving against SSgA Etf

0.56	3SVP	GraniteShares 3x Short	Pair Corr
0.37	SGBP	WisdomTree Short GBP	Pair Corr
0.32	VILX	SP 500 VIX	Pair Corr

Related Correlations Analysis

	GLTY	JNKS	EMAS	EMCO	TIPS	EMUE	MAGI	SUSD	EMSD
GLTY		-0.52	0.18	0.0	0.78	0.0	0.87	-0.69	0.59	GLTY
JNKS	-0.52		0.29	0.0	-0.17	0.0	-0.52	0.96	-0.85	JNKS
EMAS	0.18	0.29		0.0	0.57	0.0	0.14	0.11	0.01	EMAS
EMCO	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	EMCO
TIPS	0.78	-0.17	0.57	0.0		0.0	0.72	-0.4	0.31	TIPS
EMUE	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	EMUE
MAGI	0.87	-0.52	0.14	0.0	0.72	0.0		-0.69	0.63	MAGI
SUSD	-0.69	0.96	0.11	0.0	-0.4	0.0	-0.69		-0.89	SUSD
EMSD	0.59	-0.85	0.01	0.0	0.31	0.0	0.63	-0.89		EMSD
	GLTY	JNKS	EMAS	EMCO	TIPS	EMUE	MAGI	SUSD	EMSD

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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

SUSD	+ 0.96	JNKS
MAGI	+ 0.87	GLTY
TIPS	+ 0.78	GLTY
MAGI	+ 0.72	TIPS
EMSD	+ 0.63	MAGI
EMSD	+ 0.59	GLTY

High negative correlations

EMSD	- 0.89	SUSD
EMSD	- 0.85	JNKS
SUSD	- 0.69	MAGI
SUSD	- 0.69	GLTY
MAGI	- 0.52	JNKS
JNKS	- 0.52	GLTY

SSgA SPDR Constituents Risk-Adjusted Indicators

There is a big difference between SSgA Etf performing well and SSgA SPDR 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 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
GLTY	0.29	(0.01)	(0.01)	(0.32)	0.34	(0.31)	0.57	(0.44)	1.81
JNKS	0.30	0.00	0.02	(0.17)	0.36	(0.33)	0.61	(0.68)	2.37
EMAS	0.67	0.06	0.07	(1.03)	0.87	(0.69)	1.29	(1.46)	4.59
EMCO	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
TIPS	0.22	0.02	0.09	0.19	0.24	(0.24)	0.57	(0.49)	1.27
EMUE	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
MAGI	0.43	(0.01)	0.00	(0.05)	0.00	0.00	0.89	(0.89)	3.45
SUSD	0.34	(0.01)	0.00	0.11	0.42	(0.37)	0.70	(0.75)	2.51
EMSD	0.59	0.00	0.00	(0.09)	0.84	(0.57)	1.06	(1.68)	3.14

Be your own money manager

Our tools can tell you how much better you can do entering a position in SSgA SPDR without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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