SPDR SSGA Correlations

Etfs . USA . 
Etf . SPDR SSGA Sector
XLSR Etf  USD 53.00  0.16  0.30%   
The current 90-days correlation between SPDR SSGA Sector and SPDR SSGA Fixed is 0.14 (i.e., Average diversification). The correlation of SPDR SSGA 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 SSGA Correlation With Market

Almost no diversification

The correlation between SPDR SSGA Sector and DJI is 0.96 (i.e., Almost no diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding SPDR SSGA Sector and DJI in the same portfolio, assuming nothing else is changed.
  
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Moving together with SPDR Etf

  0.99VTI Vanguard Total StockPairCorr
  0.98SPY SPDR SP 500PairCorr
  0.98IVV iShares Core SPPairCorr
  0.99VIG Vanguard Dividend Sell-off TrendPairCorr
  0.98VV Vanguard Large CapPairCorr
  0.99RSP Invesco SP 500PairCorr
  0.98IWB iShares Russell 1000PairCorr
  0.98ESGU iShares ESG AwarePairCorr
  0.99DFAC Dimensional Core Equity Sell-off TrendPairCorr
  0.98SPLG SPDR Portfolio SPPairCorr
  0.64MSTY YieldMax MSTR OptionPairCorr
  0.91JPM JPMorgan ChasePairCorr
  0.93AXP American ExpressPairCorr
  0.82MSFT MicrosoftPairCorr
  0.86MMM 3M CompanyPairCorr
  0.68DD Dupont De NemoursPairCorr
  0.8TRV The Travelers CompaniesPairCorr
  0.87IBM International BusinessPairCorr
  0.89BA BoeingPairCorr
  0.61PFE Pfizer IncPairCorr
  0.66HD Home DepotPairCorr
  0.92DIS Walt DisneyPairCorr

Moving against SPDR Etf

  0.87WTID UBS ETRACSPairCorr
  0.78ARKC ARK 21Shares Active Low VolatilityPairCorr

Related Correlations Analysis

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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   
XITK
+ 0.99
DYNF
XTL
+ 0.95
DYNF
XTL
+ 0.94
XITK
XWEB
+ 0.0
FISR
XWEB
+ 0.0
DYNF
XITK
+ 0.0
XWEB
  
High negative correlations   
XITK
- 0.27
FISR
DYNF
- 0.24
FISR
XTL
- 0.1
FISR
XTL
- 0.0
XWEB
XITK
- 0.0
XWEB
XWEB
- 0.0
DYNF

SPDR SSGA Constituents Risk-Adjusted Indicators

There is a big difference between SPDR Etf performing well and SPDR SSGA 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 SSGA'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.

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