SPDR SP Correlations

SPDW Etf

USD 41.82 0.50 1.18%

The current 90-days correlation between SPDR SP World and SPDR Portfolio Emerging is 0.7 (i.e., Poor diversification). The correlation of SPDR SP 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 SP Correlation With Market

Poor diversification

The correlation between SPDR SP World 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 SP World 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 SP World. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in banks.

Moving together with SPDR Etf

1.0	VEA	Vanguard FTSE Developed	Pair Corr
0.99	IEFA	iShares Core MSCI	Pair Corr
0.99	VEU	Vanguard FTSE All	Pair Corr
0.9	EFA	iShares MSCI EAFE	Pair Corr
0.99	IXUS	iShares Core MSCI	Pair Corr
1.0	IDEV	iShares Core MSCI	Pair Corr
0.98	ESGD	iShares ESG Aware	Pair Corr
0.87	JIRE	JP Morgan Exchange	Pair Corr
0.98	DFAX	Dimensional World	Pair Corr
0.85	PMBS	PIMCO Mortgage Backed	Pair Corr
0.92	SIXD	AIM ETF Products	Pair Corr
0.89	PFFL	ETRACS 2xMonthly Pay	Pair Corr
0.91	CEFD	ETRACS Monthly Pay	Pair Corr
0.85	DRSK	Aptus Defined Risk	Pair Corr
0.63	INTC	Intel Aggressive Push	Pair Corr
0.61	MMM	3M Company	Pair Corr
0.79	AA	Alcoa Corp	Pair Corr
0.76	MSFT	Microsoft	Pair Corr
0.69	T	ATT Inc Sell-off Trend	Pair Corr
0.79	CAT	Caterpillar	Pair Corr
0.79	JPM	JPMorgan Chase	Pair Corr
0.82	PFE	Pfizer Inc	Pair Corr
0.8	CVX	Chevron Corp	Pair Corr
0.83	MRK	Merck Company	Pair Corr
0.71	CSCO	Cisco Systems	Pair Corr
0.7	DD	Dupont De Nemours	Pair Corr
0.86	JNJ	Johnson Johnson	Pair Corr

Moving against SPDR Etf

0.93	VIXY	ProShares VIX Short Sell-off Trend	Pair Corr
0.93	VXX	iPath Series B	Pair Corr
0.66	YCL	ProShares Ultra Yen	Pair Corr
0.51	PG	Procter Gamble	Pair Corr

Related Correlations Analysis

	SPEM	SPTM	SPSM	SPMD	SPAB
SPEM		0.96	0.93	0.91	0.82	SPEM
SPTM	0.96		0.94	0.95	0.88	SPTM
SPSM	0.93	0.94		0.97	0.78	SPSM
SPMD	0.91	0.95	0.97		0.76	SPMD
SPAB	0.82	0.88	0.78	0.76		SPAB
	SPEM	SPTM	SPSM	SPMD	SPAB

SPDR SP Constituents Risk-Adjusted Indicators

There is a big difference between SPDR Etf performing well and SPDR SP 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 SP'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
SPEM	0.56	0.04	(0.01)	0.18	0.56	(0.60)	1.06	(1.20)	3.48
SPTM	0.51	0.05	0.06	0.17	0.26	(0.62)	1.21	(0.78)	3.62
SPSM	0.91	0.02	0.07	0.12	0.80	(1.12)	2.22	(1.68)	4.67
SPMD	0.72	(0.01)	0.01	0.10	0.64	(0.87)	1.56	(1.29)	3.99
SPAB	0.23	0.03	(0.29)	2.26	0.06	(0.28)	0.51	(0.36)	1.22

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