SPDR SSgA Correlations

INKM Etf

USD 32.99 0.12 0.36%

A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as SPDR SSgA moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if SPDR SSgA Income moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

SPDR SSgA Correlation With Market

Poor diversification

The correlation between SPDR SSgA Income and DJI is 0.74 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding SPDR SSgA Income and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with SPDR Etf

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in SPDR SSgA Income. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in bureau of economic analysis.

Moving together with SPDR Etf

0.88	AOM	iShares Core Moderate	Pair Corr
0.65	FCEF	First Trust Income	Pair Corr
0.87	EAOM	iShares ESG Aware	Pair Corr
0.86	MFSV	MFS Active Value	Pair Corr
0.88	ITDF	iShares Trust	Pair Corr
0.66	SDVD	FT Vest SMID	Pair Corr
0.87	FDLO	Fidelity Low Volatility	Pair Corr
0.69	ACWV	iShares MSCI Global	Pair Corr
0.81	DIVO	Amplify CWP Enhanced	Pair Corr
0.79	DECW	AIM ETF Products	Pair Corr
0.72	CPRO	Calamos ETF Trust	Pair Corr
0.81	ICPY	RBB Fund	Pair Corr
0.67	MMSC	First Trust Multi	Pair Corr
0.68	AGQ	ProShares Ultra Silver	Pair Corr
0.82	MKAM	MKAM ETF	Pair Corr
0.86	PSMJ	Pacer Swan SOS	Pair Corr
0.86	EUSA	iShares MSCI USA	Pair Corr

Moving against SPDR Etf

0.36

GBTC

Grayscale Bitcoin Trust

Pair Corr

Related Correlations Analysis

	EINC	LCR	IAUG	DIG	FKU	SPDV	FDIV	XSHD	PRAY	PPI
EINC		0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	EINC
LCR	0.0		0.95	0.2	0.91	0.9	0.88	0.5	0.65	0.52	LCR
IAUG	0.0	0.95		0.19	0.91	0.84	0.86	0.43	0.59	0.52	IAUG
DIG	0.0	0.2	0.19		-0.01	0.37	0.25	-0.03	0.23	-0.34	DIG
FKU	0.0	0.91	0.91	-0.01		0.79	0.84	0.54	0.53	0.57	FKU
SPDV	0.0	0.9	0.84	0.37	0.79		0.92	0.7	0.58	0.34	SPDV
FDIV	0.0	0.88	0.86	0.25	0.84	0.92		0.65	0.47	0.29	FDIV
XSHD	0.0	0.5	0.43	-0.03	0.54	0.7	0.65		0.31	0.39	XSHD
PRAY	0.0	0.65	0.59	0.23	0.53	0.58	0.47	0.31		0.31	PRAY
PPI	0.0	0.52	0.52	-0.34	0.57	0.34	0.29	0.39	0.31		PPI
	EINC	LCR	IAUG	DIG	FKU	SPDV	FDIV	XSHD	PRAY	PPI

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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

IAUG	+ 0.95	LCR
FDIV	+ 0.92	SPDV
FKU	+ 0.91	LCR
FKU	+ 0.91	IAUG
SPDV	+ 0.9	LCR
FDIV	+ 0.88	LCR

High negative correlations

PPI	- 0.34	DIG
XSHD	- 0.03	DIG
FKU	- 0.01	DIG
PPI	- 0.0	EINC
PRAY	- 0.0	EINC
XSHD	- 0.0	EINC

SPDR SSgA Constituents Risk-Adjusted Indicators

There is a big difference between SPDR Etf performing well and SPDR SSgA 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 SSgA'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
EINC	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
LCR	0.35	0.00	(0.06)	0.05	0.41	(0.35)	0.76	(0.72)	1.78
IAUG	0.29	0.01	(0.05)	0.09	0.33	(0.30)	0.58	(0.54)	1.47
DIG	1.83	(0.11)	0.00	(0.08)	0.00	0.00	2.83	(3.67)	9.84
FKU	0.63	0.07	0.07	0.17	0.58	(0.73)	1.39	(1.20)	3.68
SPDV	0.61	(0.04)	(0.05)	0.02	0.84	(0.59)	1.09	(1.07)	3.37
FDIV	0.53	(0.01)	(0.04)	0.05	0.61	(0.61)	1.35	(1.06)	3.23
XSHD	0.68	(0.09)	0.00	(0.06)	0.00	0.00	1.65	(1.49)	4.00
PRAY	0.52	0.00	(0.08)	(0.02)	0.71	(0.50)	1.12	(1.19)	3.11
PPI	0.86	(0.01)	(0.01)	0.05	1.12	(0.82)	1.60	(2.05)	4.94

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