SPDR SSGA Correlations

SMLV Etf

USD 132.00 1.23 0.92%

The current 90-days correlation between SPDR SSGA Small and SPDR SSGA Large is 0.69 (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. 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 Small and DJI is 0.78 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding SPDR SSGA Small and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with SPDR Etf

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in SPDR SSGA Small. 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

0.9	VBR	Vanguard Small Cap	Pair Corr
0.91	IWN	iShares Russell 2000	Pair Corr
0.93	IJJ	iShares SP Mid	Pair Corr
0.94	DFAT	Dimensional Targeted	Pair Corr
0.92	IJS	iShares SP Small	Pair Corr
0.92	SLYV	SPDR SP 600	Pair Corr
0.93	AVUV	Avantis Small Cap	Pair Corr
0.97	DES	WisdomTree SmallCap	Pair Corr
0.92	MDYV	SPDR SP 400	Pair Corr
0.92	CALF	Pacer Small Cap Low Volatility	Pair Corr
0.71	TARK	AXS 2X Innovation	Pair Corr
0.74	DRSK	Aptus Defined Risk	Pair Corr
0.84	BAC	Bank of America Aggressive Push	Pair Corr
0.8	AXP	American Express	Pair Corr
0.77	INTC	Intel Aggressive Push	Pair Corr
0.61	CSCO	Cisco Systems	Pair Corr
0.77	MMM	3M Company	Pair Corr
0.8	AA	Alcoa Corp	Pair Corr
0.87	PFE	Pfizer Inc	Pair Corr
0.69	CVX	Chevron Corp	Pair Corr
0.86	DD	Dupont De Nemours	Pair Corr
0.64	CAT	Caterpillar	Pair Corr

Moving against SPDR Etf

0.53	WTID	UBS ETRACS	Pair Corr
0.34	PG	Procter Gamble	Pair Corr

Related Correlations Analysis

	LGLV	XSLV	XMLV	QEFA	VLU
LGLV		0.82	0.92	0.87	0.84	LGLV
XSLV	0.82		0.91	0.79	0.75	XSLV
XMLV	0.92	0.91		0.87	0.8	XMLV
QEFA	0.87	0.79	0.87		0.79	QEFA
VLU	0.84	0.75	0.8	0.79		VLU
	LGLV	XSLV	XMLV	QEFA	VLU

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
LGLV	0.48	(0.04)	(0.11)	0.04	0.56	(0.50)	1.12	(0.91)	2.55
XSLV	0.73	(0.04)	(0.04)	0.06	0.79	(0.83)	1.82	(1.39)	3.90
XMLV	0.55	(0.02)	(0.06)	0.06	0.66	(0.58)	1.23	(1.09)	2.99
QEFA	0.55	0.02	(0.03)	0.13	0.61	(0.58)	1.08	(1.11)	3.78
VLU	0.56	0.01	0.01	0.11	0.53	(0.59)	1.21	(1.04)	3.30

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