SPDR SP Correlations

MDYV Etf

USD 84.10 0.06 0.07%

The current 90-days correlation between SPDR SP 400 and SPDR SP 400 is 0.93 (i.e., Almost no 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 poor diversification

The correlation between SPDR SP 400 and DJI is 0.83 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding SPDR SP 400 and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with SPDR Etf

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in SPDR SP 400. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in world development indicators.

Moving together with SPDR Etf

0.99	VBR	Vanguard Small Cap	Pair Corr
0.81	IWN	iShares Russell 2000	Pair Corr
0.86	IJJ	iShares SP Mid	Pair Corr
0.86	DFAT	Dimensional Targeted	Pair Corr
0.95	IJS	iShares SP Small	Pair Corr
0.84	SLYV	SPDR SP 600	Pair Corr
0.95	AVUV	Avantis Small Cap	Pair Corr
0.83	DES	WisdomTree SmallCap	Pair Corr
0.96	CALF	Pacer Small Cap Low Volatility	Pair Corr
0.89	DD	Dupont De Nemours	Pair Corr
0.65	JPM	JPMorgan Chase	Pair Corr
0.71	TRV	The Travelers Companies	Pair Corr
0.82	HPQ	HP Inc	Pair Corr
0.61	CVX	Chevron Corp Earnings Call This Week	Pair Corr
0.76	XOM	Exxon Mobil Corp Earnings Call This Week	Pair Corr

Moving against SPDR Etf

0.89	VIXY	ProShares VIX Short	Pair Corr
0.44	KO	Coca Cola Aggressive Push	Pair Corr

Related Correlations Analysis

	MDYG	SLYG	FNCL	SMLF	FELV	FESM	FLJP	FHLC	CWI	INTF
MDYG		0.88	0.77	0.95	0.84	0.83	0.7	0.67	0.76	0.71	MDYG
SLYG	0.88		0.73	0.86	0.95	0.95	0.84	0.69	0.74	0.87	SLYG
FNCL	0.77	0.73		0.72	0.65	0.6	0.5	0.29	0.42	0.5	FNCL
SMLF	0.95	0.86	0.72		0.87	0.87	0.77	0.78	0.89	0.76	SMLF
FELV	0.84	0.95	0.65	0.87		0.98	0.88	0.79	0.83	0.92	FELV
FESM	0.83	0.95	0.6	0.87	0.98		0.88	0.79	0.84	0.91	FESM
FLJP	0.7	0.84	0.5	0.77	0.88	0.88		0.7	0.82	0.96	FLJP
FHLC	0.67	0.69	0.29	0.78	0.79	0.79	0.7		0.91	0.76	FHLC
CWI	0.76	0.74	0.42	0.89	0.83	0.84	0.82	0.91		0.84	CWI
INTF	0.71	0.87	0.5	0.76	0.92	0.91	0.96	0.76	0.84		INTF
	MDYG	SLYG	FNCL	SMLF	FELV	FESM	FLJP	FHLC	CWI	INTF

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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
MDYG	0.72	(0.05)	(0.04)	0.04	0.79	(0.85)	1.83	(1.41)	5.05
SLYG	0.81	(0.02)	0.01	0.07	0.84	(0.85)	2.19	(1.45)	6.31
FNCL	0.64	(0.10)	(0.09)	(0.01)	0.92	(0.66)	1.38	(1.59)	5.07
SMLF	0.78	0.00	0.03	0.08	0.80	(0.85)	1.96	(1.30)	6.26
FELV	0.45	0.01	0.01	0.09	0.46	(0.50)	1.07	(0.75)	3.79
FESM	0.90	0.08	0.11	0.13	0.82	(0.97)	2.40	(1.30)	7.42
FLJP	0.75	0.10	0.09	0.20	0.72	(0.91)	1.77	(1.23)	5.77
FHLC	0.64	0.07	0.05	0.17	0.72	(0.64)	1.63	(1.48)	4.21
CWI	0.54	0.04	0.04	0.13	0.59	(0.57)	1.14	(0.95)	3.91
INTF	0.53	0.05	0.04	0.15	0.52	(0.59)	1.06	(0.85)	3.41

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