SPDR Kensho Correlations

XKII Etf

USD 44.04 0.18 0.41%

The current 90-days correlation between SPDR Kensho Intelligent and Global X Infrastructure is -0.09 (i.e., Good diversification). The correlation of SPDR Kensho 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 Kensho Correlation With Market

Good diversification

The correlation between SPDR Kensho Intelligent and DJI is -0.06 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding SPDR Kensho Intelligent and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with SPDR Etf

Check out Your Current Watchlist to better understand how to build diversified portfolios, which includes a position in SPDR Kensho Intelligent. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in census.

Moving together with SPDR Etf

0.82	PAVE	Global X Infrastructure	Pair Corr
0.72	IGF	iShares Global Infra	Pair Corr
0.75	NFRA	FlexShares STOXX Global	Pair Corr
0.86	IFRA	iShares Infrastructure	Pair Corr
0.73	GII	SPDR SP Global	Pair Corr
0.64	TOLZ	ProShares DJ Brookfield	Pair Corr
0.98	SIMS	SPDR SP Kensho	Pair Corr
0.83	BLLD	JPMorgan	Pair Corr
0.96	VTI	Vanguard Total Stock	Pair Corr
0.96	SPY	SPDR SP 500	Pair Corr
0.96	IVV	iShares Core SP	Pair Corr
0.87	BND	Vanguard Total Bond	Pair Corr
0.93	VTV	Vanguard Value Index Sell-off Trend	Pair Corr
0.93	VUG	Vanguard Growth Index	Pair Corr
0.89	VO	Vanguard Mid Cap	Pair Corr
0.9	VEA	Vanguard FTSE Developed	Pair Corr
0.89	VB	Vanguard Small Cap	Pair Corr
0.95	VWO	Vanguard FTSE Emerging	Pair Corr
0.92	FUSI	American Century ETF	Pair Corr
0.88	JPSE	JPMorgan Diversified	Pair Corr
0.86	LAPR	Innovator Premium Income	Pair Corr
0.89	USG	USCF Gold Strategy	Pair Corr
0.95	JUST	Goldman Sachs JUST	Pair Corr
0.88	MOTI	VanEck Morningstar Low Volatility	Pair Corr
0.87	BSCY	Invesco BulletShares 2034	Pair Corr
0.67	VNQ	Vanguard Real Estate	Pair Corr
0.96	INRO	BlackRock Industry	Pair Corr
0.87	IDMO	Invesco SP International	Pair Corr
0.92	PSFF	Pacer Funds Trust	Pair Corr
0.92	BULZ	MicroSectors Solactive	Pair Corr
0.93	FCUS	Pinnacle Focused Opp	Pair Corr
0.95	JEPQ	JPMorgan Nasdaq Equity	Pair Corr
0.94	NTSX	WisdomTree 9060 Balanced	Pair Corr
0.89	PTH	Invesco DWA Healthcare	Pair Corr
0.9	QDVO	Amplify CWP Growth	Pair Corr
0.9	GLTR	abrdn Physical Precious	Pair Corr
0.94	BBHY	JPMorgan BetaBuilders USD	Pair Corr
0.93	NNOV	Innovator Growth 100	Pair Corr

Moving against SPDR Etf

0.4

INFR

ClearBridge Sustainable

Pair Corr

Related Correlations Analysis

	PAVE	IGF	NFRA	IFRA	TOLZ	SIMS	INFR	XKII
PAVE		0.77	0.77	0.96	0.73	0.86	-0.2	0.82	PAVE
IGF	0.77		0.93	0.82	0.92	0.75	-0.04	0.72	IGF
NFRA	0.77	0.93		0.85	0.86	0.79	-0.09	0.75	NFRA
IFRA	0.96	0.82	0.85		0.79	0.9	-0.2	0.86	IFRA
TOLZ	0.73	0.92	0.86	0.79		0.67	0.2	0.64	TOLZ
SIMS	0.86	0.75	0.79	0.9	0.67		-0.36	0.98	SIMS
INFR	-0.2	-0.04	-0.09	-0.2	0.2	-0.36		-0.4	INFR
XKII	0.82	0.72	0.75	0.86	0.64	0.98	-0.4		XKII
	PAVE	IGF	NFRA	IFRA	TOLZ	SIMS	INFR	XKII

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

XKII	+ 0.98	SIMS
IFRA	+ 0.96	PAVE
NFRA	+ 0.93	IGF
TOLZ	+ 0.92	IGF
SIMS	+ 0.9	IFRA
SIMS	+ 0.86	PAVE

High negative correlations

XKII	- 0.4	INFR
INFR	- 0.36	SIMS
INFR	- 0.2	IFRA
INFR	- 0.2	PAVE
INFR	- 0.09	NFRA
INFR	- 0.04	IGF

SPDR Kensho Constituents Risk-Adjusted Indicators

There is a big difference between SPDR Etf performing well and SPDR Kensho 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 Kensho'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
PAVE	0.72	0.04	0.06	0.09	0.65	(0.80)	1.65	(1.32)	3.86
IGF	0.38	0.03	0.01	0.13	0.42	(0.39)	0.79	(0.99)	2.69
NFRA	0.38	0.00	(0.04)	0.06	0.48	(0.38)	0.86	(0.93)	2.46
IFRA	0.65	0.02	0.03	0.08	0.62	(0.71)	1.47	(1.11)	3.33
TOLZ	0.42	0.00	(0.05)	0.07	0.49	(0.43)	0.94	(0.93)	2.39
SIMS	0.86	0.20	0.23	0.22	0.64	(1.03)	2.10	(1.46)	6.24
INFR	0.59	(0.04)	0.00	(0.02)	0.00	0.00	1.04	(1.52)	4.07
XKII	0.89	0.30	0.25	(2.45)	0.62	(1.06)	2.10	(1.46)	6.24

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