SPDR DoubleLine Correlations

EMTL Etf

USD 42.49 -0.03 -0.07%

The current 90-days correlation between SPDR DoubleLine Emerging and Innovator Russell 2000 is 0.44 (i.e., Weak diversification).When its correlation with a broad index is high, most of the stock's return is explained by market movement.

Correlation With Market Overview: SPDR DoubleLine

Poor diversification

For the present investment horizon, the measured correlation between SPDR DoubleLine and Dow Jones stands at 0.61, or Poor diversification. This chart helps evaluate whether adding Dow Jones genuinely reduces risk relative to holding SPDR DoubleLine alone.

Build portfolio with SPDR Etf

Review Investing Opportunities to understand diversified portfolio construction. Portfolio construction reflects how positions are combined across holdings. Adding SPDR DoubleLine Emerging to a portfolio enables side-by-side comparison with other holdings. Risk and return metrics update as positions are added or adjusted. Broader economic conditions can influence SPDR DoubleLine Emerging's etf valuation — related indicators include signals in population.

Moving together with SPDR Etf

0.73	PFFL	ETRACS 2xMonthly Pay	Pair Corr
0.71	BA	Boeing	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.21	0.07	0.4	-0.1	0.27	0.13	0.38	-0.15	-0.21	META
MSFT	0.21		0.84	0.26	-0.93	0.83	0.96	0.66	-0.89	-0.95	MSFT
UBER	0.07	0.84		0.2	-0.9	0.8	0.83	0.53	-0.76	-0.79	UBER
F	0.4	0.26	0.2		-0.28	0.63	0.16	0.58	0.03	-0.36	F
T	-0.1	-0.93	-0.9	-0.28		-0.85	-0.87	-0.55	0.86	0.88	T
A	0.27	0.83	0.8	0.63	-0.85		0.78	0.82	-0.63	-0.87	A
CRM	0.13	0.96	0.83	0.16	-0.87	0.78		0.68	-0.89	-0.95	CRM
JPM	0.38	0.66	0.53	0.58	-0.55	0.82	0.68		-0.43	-0.74	JPM
MRK	-0.15	-0.89	-0.76	0.03	0.86	-0.63	-0.89	-0.43		0.85	MRK
XOM	-0.21	-0.95	-0.79	-0.36	0.88	-0.87	-0.95	-0.74	0.85		XOM
	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM

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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

CRM	+ 0.96	MSFT
XOM	+ 0.88	T
MRK	+ 0.86	T
XOM	+ 0.85	MRK
UBER	+ 0.84	MSFT
A	+ 0.83	MSFT

High negative correlations

XOM	- 0.95	CRM
XOM	- 0.95	MSFT
T	- 0.93	MSFT
T	- 0.9	UBER
MRK	- 0.89	CRM
MRK	- 0.89	MSFT

SPDR DoubleLine Competition Risk-Adjusted Indicators

Evaluating SPDR Etf requires separating price momentum from underlying operating strength versus competitors. Risk-adjusted metrics help compare SPDR DoubleLine's efficiency and downside exposure against peers on a like-for-like basis. These indicators are quantitative in nature and help investors evaluate volatility and risk-adjusted expected returns across different positions.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
META	1.51	-0.05	0.00	-0.12	0.00	0.00	2.33	-2.82	14.24
MSFT	1.27	-0.28	0.00	-0.62	0.00	0.00	2.19	-2.87	13.28
UBER	1.52	-0.06	0.00	-0.18	0.00	0.00	3.18	-3.39	11.09
F	1.37	-0.13	0.00	-0.18	0.00	0.00	3.61	-3.07	10.01
T	1.13	0.28	0.24	-1.68	1.12	-1.25	3.87	-1.92	8.53
A	1.22	-0.26	0.00	-0.33	0.00	0.00	2.48	-3.01	7.20
CRM	1.78	-0.34	0.00	-0.63	0.00	0.00	3.41	-4.75	9.78
JPM	1.11	-0.03	0.00	-0.09	0.00	0.00	2.02	-2.63	8.17
MRK	1.11	0.29	0.24	0.54	1.15	-1.27	2.54	-1.94	7.29
XOM	1.27	0.53	0.40	18.70	1.04	-1.48	2.90	-2.12	6.83

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