SPDR Portfolio Correlations

SPYV Etf

USD 57.36 0.57 0.98%

The current 90-days correlation between SPDR Portfolio SP and iShares SP 100 is 0.15 (i.e., Average 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. If the correlation is 0, the equities are not correlated; they are entirely random.

SPDR Portfolio Correlation With Market

Average diversification

The correlation between SPDR Portfolio SP and DJI is 0.16 (i.e., Average 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 producer price index.

Moving together with SPDR Etf

0.88	VTV	Vanguard Value Index	Pair Corr
0.85	VYM	Vanguard High Dividend	Pair Corr
0.89	IWD	iShares Russell 1000	Pair Corr
0.87	DGRO	iShares Core Dividend	Pair Corr
0.92	IVE	iShares SP 500	Pair Corr
0.91	IUSV	iShares Core SP	Pair Corr
0.87	NOBL	ProShares SP 500	Pair Corr
0.9	FNDX	Schwab Fundamental Large	Pair Corr
0.91	VLUE	iShares MSCI USA	Pair Corr
0.64	LENS	Sarmaya Thematic ETF	Pair Corr
0.78	ASA	ASA Gold	Pair Corr
0.85	MAPP	Harbor ETF Trust	Pair Corr
0.73	WNTR	YieldMax MSTR Short	Pair Corr
0.63	JUNE	JUNE Symbol Change	Pair Corr
0.78	SNPD	DBX ETF Trust	Pair Corr
0.89	INOV	Innovator ETFs Trust	Pair Corr
0.96	JEPI	JPMorgan Equity Premium	Pair Corr
0.68	CAT	Caterpillar	Pair Corr
0.64	CSCO	Cisco Systems	Pair Corr
0.64	JNJ	Johnson Johnson	Pair Corr
0.76	MRK	Merck Company	Pair Corr
0.86	BAC	Bank of America Earnings Call This Week	Pair Corr
0.84	AA	Alcoa Corp	Pair Corr
0.78	AXP	American Express	Pair Corr
0.73	DD	Dupont De Nemours	Pair Corr
0.69	WMT	Walmart Common Stock	Pair Corr

Moving against SPDR Etf

0.61	SWIN	Alps Symbol Change	Pair Corr
0.56	PRME	Prime Medicine Common	Pair Corr
0.64	T	ATT Inc	Pair Corr
0.56	HPQ	HP Inc	Pair Corr
0.46	MSFT	Microsoft	Pair Corr

Related Correlations Analysis

	SPDW	VITNX	VOE	XLY	OEF	XLE	TQQQ	VMGIX	VOT	MGK
SPDW		0.86	0.93	0.75	0.72	0.58	0.36	0.01	0.01	0.46	SPDW
VITNX	0.86		0.82	0.83	0.94	0.52	0.73	0.2	0.2	0.68	VITNX
VOE	0.93	0.82		0.73	0.64	0.64	0.24	-0.06	-0.06	0.34	VOE
XLY	0.75	0.83	0.73		0.7	0.18	0.6	0.39	0.39	0.5	XLY
OEF	0.72	0.94	0.64	0.7		0.51	0.8	0.08	0.08	0.8	OEF
XLE	0.58	0.52	0.64	0.18	0.51		0.14	-0.38	-0.37	0.33	XLE
TQQQ	0.36	0.73	0.24	0.6	0.8	0.14		0.55	0.55	0.73	TQQQ
VMGIX	0.01	0.2	-0.06	0.39	0.08	-0.38	0.55		1.0	0.1	VMGIX
VOT	0.01	0.2	-0.06	0.39	0.08	-0.37	0.55	1.0		0.1	VOT
MGK	0.46	0.68	0.34	0.5	0.8	0.33	0.73	0.1	0.1		MGK
	SPDW	VITNX	VOE	XLY	OEF	XLE	TQQQ	VMGIX	VOT	MGK

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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

VOT	+ 1.0	VMGIX
OEF	+ 0.94	VITNX
VOE	+ 0.93	SPDW
VITNX	+ 0.86	SPDW
XLY	+ 0.83	VITNX
VOE	+ 0.82	VITNX

High negative correlations

VMGIX	- 0.38	XLE
VOT	- 0.37	XLE
VOT	- 0.06	VOE
VMGIX	- 0.06	VOE

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
SPDW	0.57	0.02	0.01	0.10	0.70	(0.58)	1.20	(1.21)	2.61
VITNX	0.61	(0.03)	(0.04)	0.04	0.85	(0.59)	1.15	(1.22)	3.39
VOE	0.60	0.00	(0.01)	0.07	0.73	(0.62)	1.24	(1.28)	3.22
XLY	0.93	(0.05)	(0.03)	0.03	1.20	(0.92)	1.97	(2.26)	5.14
OEF	0.62	(0.03)	(0.04)	0.04	0.84	(0.61)	1.53	(1.32)	3.72
XLE	1.02	0.04	0.00	0.14	1.21	(1.08)	2.10	(1.82)	5.38
TQQQ	2.49	(0.16)	0.00	0.02	3.63	(2.42)	5.31	(6.13)	13.88
VMGIX	0.81	(0.15)	0.00	(0.06)	0.00	0.00	1.26	(1.75)	3.85
VOT	0.82	(0.15)	0.00	(0.06)	0.00	0.00	1.25	(1.75)	3.74
MGK	0.79	0.03	(0.03)	0.32	1.11	(0.75)	1.85	(1.87)	4.52

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