SPDR SSGA Correlations

MYMI Etf

24.69 0.02 0.08%

The current 90-days correlation between SPDR SSGA My2029 and VanEck Vectors Moodys is 0.67 (i.e., Poor 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.

SPDR SSGA Correlation With Market

Significant diversification

The correlation between SPDR SSGA My2029 and DJI is 0.01 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding SPDR SSGA My2029 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 My2029. 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

0.81	IBMN	iShares iBonds Dec	Pair Corr
0.88	BSMP	Invesco BulletShares 2025	Pair Corr
0.92	BSMQ	Invesco BulletShares 2026	Pair Corr
0.72	VTI	Vanguard Total Stock	Pair Corr
0.73	SPY	SPDR SP 500	Pair Corr
0.73	IVV	iShares Core SP	Pair Corr
0.9	BND	Vanguard Total Bond	Pair Corr
0.68	VTV	Vanguard Value Index	Pair Corr
0.69	VUG	Vanguard Growth Index	Pair Corr
0.75	VEA	Vanguard FTSE Developed	Pair Corr
0.8	VWO	Vanguard FTSE Emerging	Pair Corr
0.77	IBM	International Business	Pair Corr
0.7	AA	Alcoa Corp	Pair Corr
0.75	CAT	Caterpillar	Pair Corr
0.68	INTC	Intel Aggressive Push	Pair Corr
0.74	WMT	Walmart Aggressive Push	Pair Corr
0.75	GE	GE Aerospace	Pair Corr
0.63	JNJ	Johnson Johnson	Pair Corr

Moving against SPDR Etf

0.64	VZ	Verizon Communications	Pair Corr
0.53	HD	Home Depot	Pair Corr
0.44	HPQ	HP Inc	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.48	0.6	-0.74	0.71	-0.74	0.41	-0.14	-0.7	-0.67	META
MSFT	0.48		0.75	-0.08	-0.12	-0.07	0.59	0.24	-0.47	-0.21	MSFT
UBER	0.6	0.75		-0.38	0.27	-0.52	0.47	0.39	-0.75	-0.36	UBER
F	-0.74	-0.08	-0.38		-0.74	0.81	-0.08	0.24	0.64	0.71	F
T	0.71	-0.12	0.27	-0.74		-0.89	0.03	-0.15	-0.52	-0.49	T
A	-0.74	-0.07	-0.52	0.81	-0.89		-0.16	0.06	0.76	0.51	A
CRM	0.41	0.59	0.47	-0.08	0.03	-0.16		-0.1	-0.51	-0.33	CRM
JPM	-0.14	0.24	0.39	0.24	-0.15	0.06	-0.1		-0.18	0.28	JPM
MRK	-0.7	-0.47	-0.75	0.64	-0.52	0.76	-0.51	-0.18		0.51	MRK
XOM	-0.67	-0.21	-0.36	0.71	-0.49	0.51	-0.33	0.28	0.51		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

A	+ 0.81	F
MRK	+ 0.76	A
UBER	+ 0.75	MSFT
T	+ 0.71	META
XOM	+ 0.71	F
MRK	+ 0.64	F

High negative correlations

A	- 0.89	T
MRK	- 0.75	UBER
T	- 0.74	F
A	- 0.74	META
F	- 0.74	META
MRK	- 0.7	META

SPDR SSGA Competition 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
META	1.30	(0.31)	0.00	(0.26)	0.00	0.00	2.13	(2.72)	13.52
MSFT	0.86	(0.10)	0.00	(0.07)	0.00	0.00	1.85	(2.19)	5.08
UBER	1.45	(0.23)	0.00	(0.17)	0.00	0.00	3.34	(3.30)	10.91
F	1.47	0.11	0.07	0.13	1.66	(1.67)	3.38	(2.35)	16.30
T	0.99	(0.16)	0.00	(0.33)	0.00	0.00	1.84	(2.32)	6.25
A	1.30	0.34	0.25	0.35	1.02	(1.46)	3.93	(2.15)	11.03
CRM	1.66	(0.15)	0.00	(0.08)	0.00	0.00	3.22	(3.61)	9.91
JPM	0.89	(0.01)	(0.01)	0.05	1.30	(0.83)	1.68	(1.91)	5.76
MRK	1.37	0.30	0.22	0.50	1.04	(1.83)	4.84	(1.73)	11.45
XOM	0.93	0.05	0.00	0.40	1.14	(0.87)	1.77	(1.93)	4.63

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