SPDR SP Correlations

GII Etf

USD 67.22 0.38 0.57%

The current 90-days correlation between SPDR SP Global and Franklin Templeton ETF is 0.22 (i.e., Modest 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.

SPDR SP Correlation With Market

Weak diversification

The correlation between SPDR SP Global and DJI is 0.32 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding SPDR SP Global and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with SPDR Etf

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in SPDR SP Global. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in gross domestic product.

Moving together with SPDR Etf

0.93	PAVE	Global X Infrastructure	Pair Corr
1.0	IGF	iShares Global Infra	Pair Corr
0.98	NFRA	FlexShares STOXX Global	Pair Corr
0.93	IFRA	iShares Infrastructure	Pair Corr
0.81	TOLZ	ProShares DJ Brookfield	Pair Corr
0.93	SIMS	SPDR SP Kensho	Pair Corr
0.91	INFR	ClearBridge Sustainable	Pair Corr
0.66	BLLD	JPMorgan	Pair Corr
0.92	XKII	SPDR Kensho Intelligent	Pair Corr
0.93	UPRO	ProShares UltraPro SP500	Pair Corr
0.94	QTJA	Innovator ETFs Trust	Pair Corr
0.94	QTOC	Innovator ETFs Trust	Pair Corr
0.94	XTOC	Innovator ETFs Trust	Pair Corr
0.94	QTAP	Innovator Growth 100	Pair Corr
0.94	XTJA	Innovator ETFs Trust	Pair Corr
0.95	XTAP	Innovator Equity Acc	Pair Corr
0.67	EUSB	iShares Trust	Pair Corr
0.88	VABS	Virtus Newfleet ABSMBS	Pair Corr
0.93	BUFD	FT Cboe Vest	Pair Corr
0.73	KGRN	KraneShares MSCI China	Pair Corr
0.94	DIS	Walt Disney	Pair Corr
0.95	GE	GE Aerospace Earnings Call This Week	Pair Corr
0.79	DD	Dupont De Nemours	Pair Corr
0.83	AA	Alcoa Corp	Pair Corr
0.62	T	ATT Inc Earnings Call This Week	Pair Corr
0.81	PFE	Pfizer Inc	Pair Corr
0.9	AXP	American Express	Pair Corr
0.83	MMM	3M Company	Pair Corr
0.89	CAT	Caterpillar	Pair Corr
0.89	IBM	International Business Earnings Call This Week	Pair Corr
0.9	BA	Boeing	Pair Corr

Moving against SPDR Etf

0.56	MCD	McDonalds	Pair Corr
0.4	KO	Coca Cola Earnings Call This Week	Pair Corr

Related Correlations Analysis

	DIEM	DIPS	DISO	DIVB	DIVD	DIVG	DIVI	DIVL	DIVO
DIEM		-0.95	0.95	0.98	0.97	0.95	0.96	0.97	0.98	DIEM
DIPS	-0.95		-0.95	-0.95	-0.93	-0.9	-0.91	-0.95	-0.96	DIPS
DISO	0.95	-0.95		0.96	0.94	0.89	0.95	0.93	0.94	DISO
DIVB	0.98	-0.95	0.96		0.98	0.98	0.96	0.97	0.99	DIVB
DIVD	0.97	-0.93	0.94	0.98		0.95	0.98	0.96	0.97	DIVD
DIVG	0.95	-0.9	0.89	0.98	0.95		0.9	0.94	0.97	DIVG
DIVI	0.96	-0.91	0.95	0.96	0.98	0.9		0.94	0.94	DIVI
DIVL	0.97	-0.95	0.93	0.97	0.96	0.94	0.94		0.97	DIVL
DIVO	0.98	-0.96	0.94	0.99	0.97	0.97	0.94	0.97		DIVO
	DIEM	DIPS	DISO	DIVB	DIVD	DIVG	DIVI	DIVL	DIVO

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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

DIVO	+ 0.99	DIVB
DIVB	+ 0.98	DIEM
DIVO	+ 0.98	DIEM
DIVD	+ 0.98	DIVB
DIVG	+ 0.98	DIVB
DIVI	+ 0.98	DIVD

High negative correlations

DIVO	- 0.96	DIPS
DIVL	- 0.95	DIPS
DIVB	- 0.95	DIPS
DISO	- 0.95	DIPS
DIPS	- 0.95	DIEM
DIVD	- 0.93	DIPS

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
DIEM	0.55	0.18	0.18	0.53	0.11	(0.68)	1.52	(1.02)	4.00
DIPS	1.51	(0.56)	0.00	2.79	0.00	0.00	2.74	(4.05)	13.70
DISO	0.83	0.30	0.29	0.61	0.35	(1.10)	1.85	(1.28)	8.62
DIVB	0.62	0.08	0.06	0.23	0.49	(0.71)	1.64	(1.21)	4.54
DIVD	0.54	0.07	0.03	0.26	0.45	(0.61)	1.31	(1.13)	3.11
DIVG	0.63	0.03	0.00	0.17	0.72	(0.65)	1.45	(1.19)	4.55
DIVI	0.57	0.12	0.07	0.39	0.41	(0.64)	1.37	(1.07)	3.32
DIVL	0.63	0.15	0.01	(2.48)	0.65	(0.72)	1.46	(1.33)	5.05
DIVO	0.48	0.03	(0.02)	0.17	0.50	(0.55)	1.31	(1.10)	3.08

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