SSgA SPDR Correlations

SSEUF Etf

USD 68.14 0.70 1.02%

The current 90-days correlation between SSgA SPDR ETFs and SSgA SPDR ETFs is -0.02 (i.e., Good diversification). The correlation of SSgA SPDR 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.

SSgA SPDR Correlation With Market

Very poor diversification

The correlation between SSgA SPDR ETFs and DJI is 0.8 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding SSgA SPDR ETFs and DJI in the same portfolio, assuming nothing else is changed.

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in SSgA SPDR ETFs. Also, note that the market value of any otc etf could be closely tied with the direction of predictive economic indicators such as signals in housing.

Moving together with SSgA OTC Etf

0.95	VTI	Vanguard Total Stock	Pair Corr
0.94	SPY	SPDR SP 500	Pair Corr
0.94	IVV	iShares Core SP	Pair Corr
0.78	BND	Vanguard Total Bond Sell-off Trend	Pair Corr
0.97	VTV	Vanguard Value Index	Pair Corr
0.9	VUG	Vanguard Growth Index	Pair Corr
0.93	VO	Vanguard Mid Cap	Pair Corr
0.92	VEA	Vanguard FTSE Developed	Pair Corr
0.98	VB	Vanguard Small Cap	Pair Corr
0.95	VWO	Vanguard FTSE Emerging	Pair Corr
0.95	WGMI	Valkyrie Bitcoin Miners	Pair Corr
0.76	AMPD	Tidal ETF Services	Pair Corr
0.82	PMBS	PIMCO Mortgage Backed	Pair Corr
0.91	ITWO	Proshares Russell 2000	Pair Corr
0.88	BAC	Bank of America Aggressive Push	Pair Corr
0.72	MSFT	Microsoft	Pair Corr
0.82	PFE	Pfizer Inc	Pair Corr
0.85	CAT	Caterpillar	Pair Corr
0.8	HPQ	HP Inc	Pair Corr
0.73	INTC	Intel	Pair Corr
0.81	JNJ	Johnson Johnson	Pair Corr
0.68	CSCO	Cisco Systems Aggressive Push	Pair Corr
0.91	DD	Dupont De Nemours	Pair Corr
0.88	AA	Alcoa Corp	Pair Corr
0.79	MMM	3M Company	Pair Corr

Moving against SSgA OTC Etf

0.53	PG	Procter Gamble	Pair Corr
0.44	IBM	International Business	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.85	0.57	0.65	0.56	0.32	-0.72	0.7	0.53	0.19	META
MSFT	0.85		0.55	0.68	0.27	0.24	-0.58	0.87	0.56	0.31	MSFT
UBER	0.57	0.55		0.87	0.48	0.6	-0.22	0.72	0.72	0.45	UBER
F	0.65	0.68	0.87		0.49	0.62	-0.41	0.82	0.84	0.58	F
T	0.56	0.27	0.48	0.49		0.48	-0.45	0.39	0.55	0.11	T
A	0.32	0.24	0.6	0.62	0.48		0.06	0.47	0.7	0.63	A
CRM	-0.72	-0.58	-0.22	-0.41	-0.45	0.06		-0.37	-0.35	0.04	CRM
JPM	0.7	0.87	0.72	0.82	0.39	0.47	-0.37		0.71	0.49	JPM
MRK	0.53	0.56	0.72	0.84	0.55	0.7	-0.35	0.71		0.62	MRK
XOM	0.19	0.31	0.45	0.58	0.11	0.63	0.04	0.49	0.62		XOM
	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM

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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

JPM	+ 0.87	MSFT
F	+ 0.87	UBER
MSFT	+ 0.85	META
MRK	+ 0.84	F
JPM	+ 0.82	F
JPM	+ 0.72	UBER

High negative correlations

CRM	- 0.72	META
CRM	- 0.58	MSFT
CRM	- 0.45	T
CRM	- 0.41	F
JPM	- 0.37	CRM
MRK	- 0.35	CRM

SSgA SPDR Competition Risk-Adjusted Indicators

There is a big difference between SSgA OTC Etf performing well and SSgA SPDR OTC 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 SSgA SPDR'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
META	1.37	0.12	0.08	0.25	1.18	(1.68)	3.16	(2.27)	14.28
MSFT	0.68	0.11	0.05	0.43	0.58	(0.78)	1.58	(1.42)	5.71
UBER	1.40	0.03	(0.01)	0.16	1.65	(1.47)	2.72	(2.30)	11.37
F	1.26	0.10	0.07	0.19	1.49	(1.25)	2.55	(2.36)	7.46
T	0.78	0.09	(0.01)	1.05	0.91	(0.80)	1.75	(1.96)	5.41
A	1.41	0.01	0.05	0.12	1.61	(1.49)	3.24	(2.46)	9.19
CRM	1.24	(0.25)	0.00	(0.09)	0.00	0.00	2.63	(3.19)	6.27
JPM	0.79	0.09	0.09	0.21	0.84	(0.87)	1.78	(1.36)	5.19
MRK	1.16	0.06	0.03	0.17	1.41	(1.15)	2.90	(2.36)	7.79
XOM	0.97	0.18	0.05	4.22	1.23	(1.01)	2.14	(2.07)	6.25

Be your own money manager

Our tools can tell you how much better you can do entering a position in SSgA SPDR without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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