SPDR Galaxy Correlations

TEKX Etf

31.78 0.31 0.97%

The current 90-days correlation between SPDR Galaxy Transfor and Franklin Templeton ETF is 0.04 (i.e., Significant diversification). The correlation of SPDR Galaxy 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 Galaxy Correlation With Market

Significant diversification

The correlation between SPDR Galaxy Transformative and DJI is 0.01 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding SPDR Galaxy Transformative 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 Galaxy Transformative. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in industry.

Moving together with SPDR Etf

0.65	VGT	Vanguard Information	Pair Corr
0.66	XLK	Technology Select Sector	Pair Corr
0.66	IYW	iShares Technology ETF	Pair Corr
0.66	SMH	VanEck Semiconductor ETF	Pair Corr
0.68	SOXX	iShares Semiconductor ETF	Pair Corr
0.65	FTEC	Fidelity MSCI Information	Pair Corr
0.64	IGM	iShares Expanded Tech	Pair Corr
0.73	USD	ProShares Ultra Semi	Pair Corr
0.64	FNGO	MicroSectors FANG Index	Pair Corr
0.66	BULZ	MicroSectors Solactive	Pair Corr
0.64	FNGG	Direxion Daily Select	Pair Corr
0.64	DFEN	Direxion Daily Aerospace	Pair Corr
0.64	AA	Alcoa Corp Earnings Call Today	Pair Corr
0.63	MSFT	Microsoft Aggressive Push	Pair Corr
0.64	JPM	JPMorgan Chase	Pair Corr
0.61	MMM	3M Company Earnings Call This Week	Pair Corr
0.63	CVX	Chevron Corp	Pair Corr
0.72	CSCO	Cisco Systems	Pair Corr

Moving against SPDR Etf

0.62	MCD	McDonalds	Pair Corr
0.45	KO	Coca Cola Earnings Call This Week	Pair Corr
0.31	PG	Procter Gamble	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.98	0.84	0.82	0.63	0.94	0.36	0.95	0.21	0.58	META
MSFT	0.98		0.88	0.86	0.65	0.92	0.39	0.96	0.2	0.58	MSFT
UBER	0.84	0.88		0.91	0.55	0.83	0.6	0.9	0.18	0.55	UBER
F	0.82	0.86	0.91		0.55	0.86	0.37	0.92	0.39	0.74	F
T	0.63	0.65	0.55	0.55		0.63	0.2	0.65	0.28	0.34	T
A	0.94	0.92	0.83	0.86	0.63		0.31	0.93	0.36	0.7	A
CRM	0.36	0.39	0.6	0.37	0.2	0.31		0.34	-0.21	-0.01	CRM
JPM	0.95	0.96	0.9	0.92	0.65	0.93	0.34		0.28	0.67	JPM
MRK	0.21	0.2	0.18	0.39	0.28	0.36	-0.21	0.28		0.52	MRK
XOM	0.58	0.58	0.55	0.74	0.34	0.7	-0.01	0.67	0.52		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

MSFT	+ 0.98	META
JPM	+ 0.96	MSFT
JPM	+ 0.95	META
A	+ 0.94	META
JPM	+ 0.93	A
A	+ 0.92	MSFT

High negative correlations

MRK	- 0.21	CRM
XOM	- 0.01	CRM

SPDR Galaxy Competition Risk-Adjusted Indicators

There is a big difference between SPDR Etf performing well and SPDR Galaxy 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 Galaxy'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	1.61	0.14	0.10	0.21	1.69	(1.86)	3.99	(2.56)	10.48
MSFT	0.93	0.29	0.24	0.44	0.68	(1.11)	2.33	(1.22)	8.85
UBER	1.67	0.25	0.16	0.36	1.47	(2.11)	4.19	(2.54)	10.87
F	1.39	0.22	0.12	0.36	1.56	(1.54)	2.90	(2.61)	7.88
T	1.07	0.02	(0.04)	0.18	1.34	(1.10)	2.35	(2.35)	5.71
A	1.56	(0.10)	(0.01)	0.06	2.16	(1.57)	2.54	(3.38)	12.09
CRM	1.37	(0.19)	0.00	(0.02)	0.00	0.00	2.95	(3.30)	9.31
JPM	0.99	0.20	0.15	0.32	0.87	(1.09)	2.28	(1.51)	7.15
MRK	1.44	(0.11)	(0.04)	0.02	2.16	(1.34)	2.88	(4.13)	10.58
XOM	1.19	0.06	0.00	0.26	1.58	(1.18)	2.62	(2.58)	6.25

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