SPDR SP Correlations

XRT Etf

USD 68.81 0.48 0.69%

The current 90-days correlation between SPDR SP Retail and SPDR SP Metals is 0.51 (i.e., Very weak 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

Poor diversification

The correlation between SPDR SP Retail and DJI is 0.69 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding SPDR SP Retail 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 Retail. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in metropolitan statistical area.

Moving together with SPDR Etf

0.98	XLY	Consumer Discretionary	Pair Corr
0.98	VCR	Vanguard Consumer	Pair Corr
0.83	ITB	iShares Home Construction Sell-off Trend	Pair Corr
0.98	FDIS	Fidelity MSCI Consumer	Pair Corr
0.84	XHB	SPDR SP Homebuilders	Pair Corr
0.91	IYC	iShares Consumer Dis	Pair Corr
0.65	PEJ	Invesco Dynamic Leisure	Pair Corr
0.95	FXD	First Trust Consumer	Pair Corr
0.8	GRI	GRI Bio Earnings Call This Week	Pair Corr
0.92	WGMI	Valkyrie Bitcoin Miners	Pair Corr
0.83	HD	Home Depot	Pair Corr
0.65	BA	Boeing	Pair Corr
0.82	AXP	American Express	Pair Corr
0.82	DIS	Walt Disney	Pair Corr
0.87	MSFT	Microsoft	Pair Corr
0.78	AA	Alcoa Corp	Pair Corr
0.73	CAT	Caterpillar	Pair Corr

Moving against SPDR Etf

0.78	AMPD	Tidal Trust II	Pair Corr
0.76	FXY	Invesco CurrencyShares	Pair Corr
0.77	TRV	The Travelers Companies	Pair Corr
0.76	VZ	Verizon Communications	Pair Corr
0.71	T	ATT Inc Earnings Call This Week	Pair Corr
0.46	CVX	Chevron Corp	Pair Corr
0.46	IBM	International Business	Pair Corr
0.44	XOM	Exxon Mobil Corp Aggressive Push	Pair Corr
0.42	INTC	Intel	Pair Corr
0.41	GE	GE Aerospace	Pair Corr
0.41	PG	Procter Gamble	Pair Corr
0.37	CSCO	Cisco Systems	Pair Corr

Related Correlations Analysis

	XHB	XLY	XME	XLI	XLB
XHB		0.85	0.69	0.71	0.43	XHB
XLY	0.85		0.58	0.61	0.27	XLY
XME	0.69	0.58		0.79	0.73	XME
XLI	0.71	0.61	0.79		0.84	XLI
XLB	0.43	0.27	0.73	0.84		XLB
	XHB	XLY	XME	XLI	XLB

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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	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
XHB	1.24	(0.17)	(0.24)	2.28	(2.50)	5.70
XLY	1.06	(0.20)	(0.27)	2.02	(2.54)	6.11
XME	1.33	(0.08)	(0.16)	3.02	(3.31)	8.03
XLI	0.78	0.01	(0.07)	1.38	(1.56)	4.25
XLB	0.78	0.00	(0.07)	1.31	(1.83)	4.69

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