SSGA SPDR Correlations
| SWRD Etf | EUR 41.03 0.03 0.07% |
The current 90-days correlation between SSGA SPDR ETFS and iShares Core FTSE is 0.18 (i.e., Average 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. If the correlation is 0, the equities are not correlated; they are entirely random.
SSGA SPDR Correlation With Market
Very poor diversification
The correlation between SSGA SPDR ETFS and DJI is 0.84 (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.
SSGA |
The ability to find closely correlated positions to SSGA SPDR could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace SSGA SPDR when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back SSGA SPDR - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling SSGA SPDR ETFS to buy it.
Moving together with SSGA Etf
| 0.9 | VWRL | Vanguard FTSE All | PairCorr |
| 0.89 | IWRD | iShares MSCI World | PairCorr |
| 0.99 | VEVE | Vanguard FTSE Developed | PairCorr |
| 0.86 | TSWE | VanEck Sustainable World | PairCorr |
| 0.89 | IGSG | iShares Dow Jones | PairCorr |
| 0.73 | IEGE | iShares III Public | PairCorr |
| 0.78 | IFFF | iShares MSCI AC | PairCorr |
| 0.67 | PHAU | WisdomTree Physical Gold | PairCorr |
| 0.75 | DIA | SPDR Dow Jones | PairCorr |
| 0.64 | IWDP | iShares Developed Markets | PairCorr |
| 0.75 | DFEU | iShares Europe Defence | PairCorr |
| 0.82 | RTWO | LG Russell 2000 | PairCorr |
| 0.75 | COWZ | Pacer Us Cash | PairCorr |
| 0.79 | ISED | iShares MSCI Europe | PairCorr |
| 0.73 | VAPX | Vanguard FTSE Developed | PairCorr |
| 0.66 | INRA | iShares Global Clean | PairCorr |
| 0.8 | ITWN | iShares MSCI Taiwan | PairCorr |
| 0.85 | BATT | Legal General UCITS | PairCorr |
| 0.91 | CSX5 | iShares VII PLC | PairCorr |
| 0.79 | JPSR | UBSFund Solutions MSCI | PairCorr |
| 0.76 | IAPD | iShares Asia Pacific | PairCorr |
| 0.69 | DHYD | iShares II plc | PairCorr |
| 0.88 | IDJG | iShares EURO Total | PairCorr |
| 0.74 | SXLB | SSgA SPDR ETFs | PairCorr |
| 0.86 | CEUU | iShares Core MSCI | PairCorr |
| 0.77 | V20D | Vanguard LifeStrategy | PairCorr |
| 0.77 | SEMI | iShares MSCI Global | PairCorr |
| 0.78 | IUES | iShares SP 500 | PairCorr |
| 0.73 | AUCO | LG Gold Mining | PairCorr |
| 0.86 | IWDE | iShares MSCI World | PairCorr |
| 0.73 | EXCH | iShares MSCI EM | PairCorr |
| 0.71 | ERNE | iShares Euro Ultrashort | PairCorr |
| 0.7 | ICOW | Pacer Developed Markets | PairCorr |
| 0.87 | IMAE | iShares Core MSCI | PairCorr |
| 0.8 | SXLI | SPDR SP Industrials | PairCorr |
Related Correlations Analysis
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
| High negative correlations
|
SSGA SPDR Constituents Risk-Adjusted Indicators
There is a big difference between SSGA Etf performing well and SSGA SPDR 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| AEXT | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| RTWO | 0.74 | 0.06 | 0.03 | 0.17 | 0.78 | 1.87 | 3.99 | |||
| EXCD | 0.79 | 0.21 | 0.19 | 0.57 | 0.64 | 1.82 | 3.52 | |||
| TOF | 0.41 | 0.04 | (0.01) | 0.20 | 0.56 | 0.72 | 2.17 | |||
| IEGZ | 0.21 | 0.00 | (0.19) | 0.04 | 0.25 | 0.44 | 1.36 | |||
| EMIM | 0.61 | 0.10 | 0.08 | 0.37 | 0.55 | 1.41 | 3.20 | |||
| IFRB | 0.14 | 0.00 | (0.31) | 0.07 | 0.12 | 0.30 | 0.73 | |||
| ISFA | 0.48 | 0.07 | 0.05 | 0.25 | 0.51 | 1.12 | 3.01 |
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.Did you try this?
Run Theme Ratings Now
Theme RatingsDetermine theme ratings based on digital equity recommendations. Macroaxis theme ratings are based on combination of fundamental analysis and risk-adjusted market performance |
| All Next | Launch Module |