SPDR Portfolio Correlations

Etfs . USA . 
Etf . SPDR Portfolio SP
SPTM Etf  USD 78.26  0.47  0.60%   
The current 90-days correlation between SPDR Portfolio SP and SPDR Portfolio Emerging is 0.69 (i.e., Poor diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as SPDR Portfolio moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if SPDR Portfolio SP moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

SPDR Portfolio Correlation With Market

Very poor diversification

The correlation between SPDR Portfolio SP and DJI is 0.89 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding SPDR Portfolio SP 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 Portfolio SP. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in manufacturing.

Moving together with SPDR Etf

  1.0VTI Vanguard Total StockPairCorr
  1.0SPY SPDR SP 500PairCorr
  1.0IVV iShares Core SPPairCorr
  0.99VIG Vanguard DividendPairCorr
  1.0VV Vanguard Large CapPairCorr
  0.96RSP Invesco SP 500 Sell-off TrendPairCorr
  1.0IWB iShares Russell 1000PairCorr
  1.0ESGU iShares ESG AwarePairCorr
  1.0DFAC Dimensional Core EquityPairCorr
  1.0SPLG SPDR Portfolio SPPairCorr
  0.96XOVR ERShares Private PublicPairCorr
  0.91GAICX GATEWAY INTERNATIONALPairCorr
  0.99HBTA Horizon FundsPairCorr
  0.93AAIAX AMERICAN BEACON INTEPairCorr
  0.94FDV First Trust CapitalPairCorr
  0.95TRSY Xtrackers 0 1PairCorr
  0.72GSJY Goldman Sachs ActiveBetaPairCorr
  0.93IJT iShares SP SmallPairCorr
  0.77PFE Pfizer IncPairCorr
  0.88MSFT MicrosoftPairCorr
  0.91CVX Chevron CorpPairCorr
  0.85GE GE AerospacePairCorr
  0.78CSCO Cisco Systems Aggressive PushPairCorr
  0.75MMM 3M CompanyPairCorr
  0.82BAC Bank of America Aggressive PushPairCorr
  0.86JNJ Johnson JohnsonPairCorr
  0.71HPQ HP IncPairCorr
  0.77HD Home DepotPairCorr
  0.87BA BoeingPairCorr
  0.84DD Dupont De NemoursPairCorr
  0.79MRK Merck CompanyPairCorr

Moving against SPDR Etf

  0.51IBM International BusinessPairCorr

Related Correlations Analysis


SPDR Portfolio Constituents Risk-Adjusted Indicators

There is a big difference between SPDR Etf performing well and SPDR Portfolio 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 Portfolio'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.

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