SPDR SP Correlations
XSD Etf | USD 219.10 8.33 3.95% |
The current 90-days correlation between SPDR SP Semiconductor and Invesco Dynamic Semiconductors is 0.96 (i.e., Almost no 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.
SPDR SP Correlation With Market
Very weak diversification
The correlation between SPDR SP Semiconductor and DJI is 0.46 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding SPDR SP Semiconductor and DJI in the same portfolio, assuming nothing else is changed.
SPDR |
Moving together with SPDR Etf
0.91 | VGT | Vanguard Information | PairCorr |
0.89 | XLK | Technology Select Sector | PairCorr |
0.89 | IYW | iShares Technology ETF | PairCorr |
0.91 | SMH | VanEck Semiconductor ETF | PairCorr |
0.92 | SOXX | iShares Semiconductor ETF | PairCorr |
0.91 | FTEC | Fidelity MSCI Information | PairCorr |
0.74 | IGV | iShares Expanded Tech | PairCorr |
0.82 | IGM | iShares Expanded Tech | PairCorr |
0.75 | VTI | Vanguard Total Stock | PairCorr |
0.72 | SPY | SPDR SP 500 | PairCorr |
0.72 | IVV | iShares Core SP | PairCorr |
0.84 | VUG | Vanguard Growth Index | PairCorr |
0.62 | VO | Vanguard Mid Cap | PairCorr |
0.84 | MSFT | Microsoft | PairCorr |
0.83 | AA | Alcoa Corp | PairCorr |
0.77 | HPQ | HP Inc | PairCorr |
0.73 | AXP | American Express | PairCorr |
Moving against SPDR Etf
0.78 | IDOG | ALPS International Sector | PairCorr |
0.7 | BND | Vanguard Total Bond Sell-off Trend | PairCorr |
0.68 | INTF | iShares Edge MSCI | PairCorr |
0.66 | GLD | SPDR Gold Shares | PairCorr |
0.62 | VEA | Vanguard FTSE Developed | PairCorr |
0.83 | JNJ | Johnson Johnson Sell-off Trend | PairCorr |
0.77 | KO | Coca Cola | PairCorr |
0.77 | T | ATT Inc Earnings Call This Week | PairCorr |
0.68 | TRV | The Travelers Companies | PairCorr |
0.67 | MCD | McDonalds | PairCorr |
0.59 | PG | Procter Gamble Sell-off Trend | PairCorr |
0.54 | IBM | International Business | PairCorr |
0.49 | MMM | 3M Company | PairCorr |
0.4 | CSCO | Cisco Systems | PairCorr |
Related Correlations Analysis
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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 | Sortino Ratio | Treynor Ratio | Semi Deviation | Expected Shortfall | Potential Upside | Value @Risk | Maximum Drawdown | ||
---|---|---|---|---|---|---|---|---|---|---|
PSI | 2.00 | (0.03) | 0.00 | (0.13) | 0.00 | 3.14 | 13.59 | |||
SOXX | 1.73 | 0.01 | 0.00 | (0.10) | 0.00 | 2.89 | 10.87 | |||
XSW | 1.32 | (0.20) | 0.00 | (0.30) | 0.00 | 2.51 | 7.61 | |||
XPH | 0.85 | (0.04) | 0.00 | (0.17) | 0.00 | 1.64 | 4.10 | |||
XRT | 0.94 | (0.22) | 0.00 | (0.36) | 0.00 | 1.37 | 4.94 |