SPDR Portfolio Correlations

SPYD Etf

USD 45.01 0.33 0.74%

The current 90-days correlation between SPDR Portfolio SP and Invesco SP 500 is 0.97 (i.e., Almost no diversification). The correlation of SPDR Portfolio 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 Portfolio Correlation With Market

Poor diversification

The correlation between SPDR Portfolio SP and DJI is 0.72 (i.e., 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 services.

Moving together with SPDR Etf

0.97	VOE	Vanguard Mid Cap	Pair Corr
0.97	SDY	SPDR SP Dividend	Pair Corr
0.96	IWS	iShares Russell Mid	Pair Corr
0.96	COWZ	Pacer Cash Cows	Pair Corr
0.98	DON	WisdomTree MidCap	Pair Corr
0.91	RPV	Invesco SP 500	Pair Corr
0.97	PEY	Invesco High Yield	Pair Corr
0.96	PKW	Invesco BuyBack Achievers	Pair Corr
0.99	ONEY	SPDR Russell 1000	Pair Corr
0.74	SHLD	Global X Defense	Pair Corr
0.66	HUM	Humana Inc	Pair Corr
0.88	SWP	SWP Growth Income	Pair Corr
0.9	DUKH	Ocean Park High	Pair Corr
0.84	WINN	Harbor Long Term	Pair Corr
0.87	BAC	Bank of America Aggressive Push	Pair Corr
0.87	MRK	Merck Company	Pair Corr
0.82	JPM	JPMorgan Chase	Pair Corr
0.67	GE	GE Aerospace	Pair Corr
0.88	AA	Alcoa Corp	Pair Corr
0.93	DD	Dupont De Nemours	Pair Corr
0.78	HD	Home Depot	Pair Corr
0.81	JNJ	Johnson Johnson	Pair Corr
0.84	PFE	Pfizer Inc	Pair Corr
0.82	CAT	Caterpillar	Pair Corr
0.67	AXP	American Express	Pair Corr

Moving against SPDR Etf

0.81	FNGD	MicroSectors FANG Index Buyout Trend	Pair Corr
0.4	PG	Procter Gamble	Pair Corr
0.37	SMI	Van Eck	Pair Corr
0.43	IBM	International Business	Pair Corr

Related Correlations Analysis

	SPHD	HDV	SPYG	SCHD	VYM
SPHD		0.95	0.82	0.94	0.94	SPHD
HDV	0.95		0.89	0.94	0.97	HDV
SPYG	0.82	0.89		0.78	0.94	SPYG
SCHD	0.94	0.94	0.78		0.93	SCHD
VYM	0.94	0.97	0.94	0.93		VYM
	SPHD	HDV	SPYG	SCHD	VYM

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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
SPHD	0.56	0.00	(0.04)	0.12	0.59	(0.56)	1.47	(1.05)	3.18
HDV	0.43	0.06	(0.01)	0.24	0.29	(0.49)	0.88	(0.79)	2.32
SPYG	0.58	0.07	0.06	0.20	0.49	(0.63)	1.24	(1.12)	3.30
SCHD	0.55	0.03	0.00	0.16	0.47	(0.65)	1.16	(1.06)	3.69
VYM	0.44	0.04	0.03	0.16	0.35	(0.47)	0.94	(0.92)	2.10

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