SPDR SP Correlations

EWX Etf

USD 63.98 0.12 0.19%

The current 90-days correlation between SPDR SP Emerging and SPDR SP International is 0.57 (i.e., Very weak diversification). The correlation of SPDR SP 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 SP Correlation With Market

Very weak diversification

The correlation between SPDR SP Emerging and DJI is 0.53 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding SPDR SP Emerging and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with SPDR Etf

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in SPDR SP Emerging. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in housing.

Moving together with SPDR Etf

0.85	VWO	Vanguard FTSE Emerging	Pair Corr
0.85	IEMG	iShares Core MSCI	Pair Corr
0.97	EMC	Global X Funds	Pair Corr
0.84	EEM	iShares MSCI Emerging	Pair Corr
0.83	SPEM	SPDR Portfolio Emerging	Pair Corr
0.85	FNDE	Schwab Fundamental	Pair Corr
0.84	ESGE	iShares ESG Aware	Pair Corr
0.97	SFGRX	Seafarer Overseas	Pair Corr
0.98	DGS	WisdomTree Emerging	Pair Corr
0.98	XSOE	WisdomTree Emerging	Pair Corr
0.64	USD	ProShares Ultra Semi	Pair Corr
0.64	DIG	ProShares Ultra Oil	Pair Corr
0.81	KEMQ	KraneShares Emerging	Pair Corr
0.61	JPM	JPMorgan Chase	Pair Corr
0.61	DD	Dupont De Nemours Earnings Call This Week	Pair Corr

Moving against SPDR Etf

0.45

TRV

The Travelers Companies

Pair Corr

Related Correlations Analysis

	GWX	DGS	GMF	EDIV	BKF
GWX		0.98	0.81	0.93	0.75	GWX
DGS	0.98		0.85	0.98	0.8	DGS
GMF	0.81	0.85		0.83	0.97	GMF
EDIV	0.93	0.98	0.83		0.8	EDIV
BKF	0.75	0.8	0.97	0.8		BKF
	GWX	DGS	GMF	EDIV	BKF

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SPDR SP Constituents Risk-Adjusted Indicators

There is a big difference between SPDR Etf performing well and SPDR SP 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 SP'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
GWX	0.52	0.15	0.03	0.60	0.26	(0.62)	1.25	(0.87)	3.21
DGS	0.57	0.14	0.03	0.51	0.47	(0.64)	1.11	(1.18)	4.92
GMF	0.56	0.22	0.02	(14.88)	0.34	(0.66)	1.22	(1.09)	4.66
EDIV	0.48	0.07	(0.10)	0.38	0.32	(0.57)	1.08	(1.00)	3.31
BKF	0.59	0.13	(0.12)	(1.56)	0.51	(0.65)	1.33	(0.98)	4.45

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