SPDR SSGA Correlations

LGLV Etf

USD 181.78 0.10 0.06%

The current 90-days correlation between SPDR SSGA Large and VanEck Oil Services is -0.32 (i.e., Very good diversification). The correlation of SPDR SSGA 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 SSGA Correlation With Market

Poor diversification

The correlation between SPDR SSGA Large and DJI is 0.77 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding SPDR SSGA Large and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with SPDR Etf

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in SPDR SSGA Large. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in industry.

Moving together with SPDR Etf

0.68	VTI	Vanguard Total Stock Sell-off Trend	Pair Corr
0.63	SPY	SPDR SP 500	Pair Corr
0.63	IVV	iShares Core SP	Pair Corr
0.82	VIG	Vanguard Dividend	Pair Corr
0.89	RSP	Invesco SP 500	Pair Corr
0.65	IWB	iShares Russell 1000	Pair Corr
0.83	DFAC	Dimensional Core Equity	Pair Corr
0.74	SPLG	SSgA Symbol Change	Pair Corr
0.67	TOT	Advisor Managed Port	Pair Corr
0.9	VTV	Vanguard Value Index	Pair Corr
0.78	VO	Vanguard Mid Cap	Pair Corr
0.74	IEMG	iShares Core MSCI	Pair Corr
0.88	VEA	Vanguard FTSE Developed	Pair Corr
0.81	XOM	Exxon Mobil Corp Earnings Call This Week	Pair Corr
0.79	MRK	Merck Company	Pair Corr
0.69	INTC	Intel Earnings Call This Week	Pair Corr
0.68	CAT	Caterpillar Earnings Call This Week	Pair Corr
0.69	CVX	Chevron Corp Earnings Call This Week	Pair Corr
0.78	JNJ	Johnson Johnson	Pair Corr

Moving against SPDR Etf

0.47	IRE	Tidal Trust II Upward Rally	Pair Corr
0.71	HPQ	HP Inc	Pair Corr
0.61	MSFT	Microsoft Earnings Call This Week	Pair Corr
0.55	T	ATT Inc Earnings Call This Week	Pair Corr

Related Correlations Analysis

	FVAL	QQXT	CGGE	FBT	RWO	JHML	USVM	EFIV	CRBN	OIH
FVAL		0.87	0.93	0.73	0.48	0.97	0.87	0.97	0.95	0.73	FVAL
QQXT	0.87		0.84	0.61	0.66	0.9	0.87	0.84	0.86	0.6	QQXT
CGGE	0.93	0.84		0.59	0.68	0.96	0.88	0.93	0.98	0.78	CGGE
FBT	0.73	0.61	0.59		0.34	0.66	0.71	0.67	0.55	0.69	FBT
RWO	0.48	0.66	0.68	0.34		0.61	0.66	0.48	0.61	0.54	RWO
JHML	0.97	0.9	0.96	0.66	0.61		0.9	0.97	0.98	0.78	JHML
USVM	0.87	0.87	0.88	0.71	0.66	0.9		0.83	0.86	0.82	USVM
EFIV	0.97	0.84	0.93	0.67	0.48	0.97	0.83		0.96	0.73	EFIV
CRBN	0.95	0.86	0.98	0.55	0.61	0.98	0.86	0.96		0.74	CRBN
OIH	0.73	0.6	0.78	0.69	0.54	0.78	0.82	0.73	0.74		OIH
	FVAL	QQXT	CGGE	FBT	RWO	JHML	USVM	EFIV	CRBN	OIH

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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
FVAL	0.56	0.02	0.02	0.10	0.64	(0.56)	1.22	(1.16)	3.49
QQXT	0.50	(0.01)	(0.06)	0.05	0.57	(0.54)	1.13	(1.02)	2.86
CGGE	0.58	0.00	(0.02)	0.07	0.71	(0.56)	1.09	(1.05)	3.30
FBT	0.95	0.16	0.14	0.26	0.78	(1.02)	3.06	(1.64)	6.03
RWO	0.52	(0.02)	(0.07)	0.02	0.81	(0.45)	1.02	(1.37)	2.98
JHML	0.56	0.00	(0.02)	0.06	0.67	(0.57)	1.20	(1.09)	3.11
USVM	0.67	0.12	0.09	0.43	0.59	(0.78)	1.63	(1.20)	3.47
EFIV	0.49	0.00	(0.02)	0.07	0.62	(0.51)	1.26	(1.10)	3.65
CRBN	0.55	0.00	(0.02)	0.06	0.74	(0.53)	1.04	(1.18)	3.29
OIH	1.41	0.39	0.22	0.47	1.33	(1.58)	4.38	(2.90)	9.53

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