SPDR ICE Correlations

PSK Etf

USD 31.99 0.01 0.03%

The current 90-days correlation between SPDR ICE Preferred and Invesco Financial Preferred is 0.83 (i.e., Very poor diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as SPDR ICE moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if SPDR ICE Preferred moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

SPDR ICE Correlation With Market

Very weak diversification

The correlation between SPDR ICE Preferred and DJI is 0.58 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding SPDR ICE Preferred and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with SPDR Etf

Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in SPDR ICE Preferred. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in main economic indicators.

Moving together with SPDR Etf

0.9	PFF	iShares Preferred	Pair Corr
0.89	PGX	Invesco Preferred ETF	Pair Corr
0.83	PFFD	Global X Preferred	Pair Corr
0.99	PGF	Invesco Financial	Pair Corr
0.75	MSFT	Microsoft	Pair Corr
0.77	HPQ	HP Inc	Pair Corr

Moving against SPDR Etf

0.69	MULL	GraniteShares 2x Long	Pair Corr
0.65	MUU	Direxion Daily MU	Pair Corr
0.59	AGQ	ProShares Ultra Silver Buyout Trend	Pair Corr
0.53	FPEI	First Trust Institutional	Pair Corr
0.5	FPE	First Trust Preferred	Pair Corr
0.5	KORU	Direxion Daily South	Pair Corr
0.46	GDMN	WisdomTree Efficient Gold Low Volatility	Pair Corr
0.77	CSCO	Cisco Systems	Pair Corr
0.74	DD	Dupont De Nemours	Pair Corr
0.73	JNJ	Johnson Johnson	Pair Corr
0.63	CAT	Caterpillar	Pair Corr
0.59	XOM	Exxon Mobil Corp Aggressive Push	Pair Corr
0.58	AA	Alcoa Corp	Pair Corr
0.55	TRV	The Travelers Companies	Pair Corr
0.45	WMT	Walmart Common Stock Aggressive Push	Pair Corr
0.44	AXP	American Express	Pair Corr
0.4	MCD	McDonalds	Pair Corr
0.38	BAC	Bank of America Aggressive Push	Pair Corr

Related Correlations Analysis

	PGF	GWX	PNQI	EDIV	SCHQ	IQDF	IHF	TAN	PTIR	SYFI
PGF		0.36	0.84	0.25	0.06	-0.6	0.54	-0.43	0.57	-0.33	PGF
GWX	0.36		0.59	0.57	-0.15	0.3	0.39	-0.1	0.41	0.54	GWX
PNQI	0.84	0.59		0.39	0.0	-0.34	0.47	-0.32	0.76	-0.03	PNQI
EDIV	0.25	0.57	0.39		-0.17	0.51	-0.11	0.14	0.23	0.53	EDIV
SCHQ	0.06	-0.15	0.0	-0.17		-0.13	0.49	0.31	0.05	-0.21	SCHQ
IQDF	-0.6	0.3	-0.34	0.51	-0.13		-0.38	0.62	-0.14	0.76	IQDF
IHF	0.54	0.39	0.47	-0.11	0.49	-0.38		-0.19	0.29	-0.17	IHF
TAN	-0.43	-0.1	-0.32	0.14	0.31	0.62	-0.19		0.12	0.15	TAN
PTIR	0.57	0.41	0.76	0.23	0.05	-0.14	0.29	0.12		-0.12	PTIR
SYFI	-0.33	0.54	-0.03	0.53	-0.21	0.76	-0.17	0.15	-0.12		SYFI
	PGF	GWX	PNQI	EDIV	SCHQ	IQDF	IHF	TAN	PTIR	SYFI

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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

PNQI	+ 0.84	PGF
PTIR	+ 0.76	PNQI
SYFI	+ 0.76	IQDF
TAN	+ 0.62	IQDF
PNQI	+ 0.59	GWX
PTIR	+ 0.57	PGF

High negative correlations

IQDF	- 0.6	PGF
TAN	- 0.43	PGF
IHF	- 0.38	IQDF
IQDF	- 0.34	PNQI
SYFI	- 0.33	PGF
TAN	- 0.32	PNQI

SPDR ICE Constituents Risk-Adjusted Indicators

There is a big difference between SPDR Etf performing well and SPDR ICE 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 ICE'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
PGF	0.30	(0.08)	0.00	(0.19)	0.00	0.00	0.63	(0.55)	2.02
GWX	0.63	(0.04)	(0.06)	0.03	0.80	(0.66)	1.28	(1.34)	3.25
PNQI	0.83	(0.17)	0.00	(0.07)	0.00	0.00	1.63	(2.07)	4.74
EDIV	0.43	(0.04)	(0.13)	(0.01)	0.60	(0.44)	0.67	(0.85)	2.74
SCHQ	0.36	(0.03)	0.00	(1.36)	0.00	0.00	0.71	(0.87)	2.58
IQDF	0.52	0.03	0.01	0.11	0.67	(0.52)	0.96	(1.03)	3.16
IHF	0.84	(0.03)	(0.06)	0.00	1.20	(0.80)	1.83	(1.60)	5.31
TAN	1.81	0.06	0.05	0.11	2.08	(1.97)	3.37	(3.46)	11.12
PTIR	4.51	0.02	0.03	0.08	6.81	(4.38)	9.54	(13.12)	30.53
SYFI	0.15	(0.01)	(0.35)	0.03	0.15	(0.15)	0.31	(0.34)	0.79

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