SPDR SSGA Correlations

MYCL Etf

24.72 0.06 0.24%

The current 90-days correlation between SPDR SSGA My2032 and VanEck Vectors Moodys is 0.96 (i.e., Almost no diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as SPDR SSGA moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if SPDR SSGA My2032 moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

SPDR SSGA Correlation With Market

Modest diversification

The correlation between SPDR SSGA My2032 and DJI is 0.28 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding SPDR SSGA My2032 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 SSGA My2032. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in commodities.

Moving together with SPDR Etf

0.95	BSCP	Invesco BulletShares 2025	Pair Corr
0.88	IBDQ	iShares iBonds Dec	Pair Corr
0.97	BSCQ	Invesco BulletShares 2026	Pair Corr
0.97	IBDR	iShares iBonds Dec	Pair Corr
0.99	IBDS	iShares iBonds Dec	Pair Corr
0.93	EMCB	WisdomTree Emerging	Pair Corr
0.86	EU	enCore Energy Corp	Pair Corr
0.89	PCY	Invesco Emerging Markets	Pair Corr
0.69	IGOV	iShares International	Pair Corr
0.89	EUSB	iShares Trust	Pair Corr
0.63	CAT	Caterpillar Sell-off Trend	Pair Corr
0.63	MSFT	Microsoft	Pair Corr

Moving against SPDR Etf

0.48	HPQ	HP Inc	Pair Corr
0.43	TRV	The Travelers Companies	Pair Corr
0.35	MCD	McDonalds	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.92	0.43	0.63	0.37	0.65	-0.69	0.83	0.6	0.49	META
MSFT	0.92		0.45	0.71	0.29	0.57	-0.7	0.94	0.7	0.54	MSFT
UBER	0.43	0.45		0.8	0.1	0.53	0.09	0.58	0.44	0.44	UBER
F	0.63	0.71	0.8		0.19	0.65	-0.29	0.8	0.74	0.68	F
T	0.37	0.29	0.1	0.19		0.37	-0.28	0.28	0.39	0.11	T
A	0.65	0.57	0.53	0.65	0.37		-0.2	0.65	0.74	0.7	A
CRM	-0.69	-0.7	0.09	-0.29	-0.28	-0.2		-0.5	-0.46	-0.24	CRM
JPM	0.83	0.94	0.58	0.8	0.28	0.65	-0.5		0.73	0.6	JPM
MRK	0.6	0.7	0.44	0.74	0.39	0.74	-0.46	0.73		0.68	MRK
XOM	0.49	0.54	0.44	0.68	0.11	0.7	-0.24	0.6	0.68		XOM
	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM

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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

JPM	+ 0.94	MSFT
MSFT	+ 0.92	META
JPM	+ 0.83	META
F	+ 0.8	UBER
JPM	+ 0.8	F
MRK	+ 0.74	F

High negative correlations

CRM	- 0.7	MSFT
CRM	- 0.69	META
JPM	- 0.5	CRM
MRK	- 0.46	CRM
CRM	- 0.29	F
CRM	- 0.28	T

SPDR SSGA Competition 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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
META	1.47	0.31	0.24	0.40	0.94	(1.80)	3.51	(2.35)	14.28
MSFT	0.69	0.22	0.22	0.49	0.28	(0.80)	2.20	(1.08)	5.71
UBER	1.51	(0.03)	(0.02)	0.08	1.69	(1.75)	3.87	(3.36)	11.37
F	1.30	0.04	0.02	0.15	1.56	(1.28)	2.51	(2.33)	7.46
T	0.89	0.00	(0.09)	0.10	1.17	(0.91)	2.03	(2.13)	5.71
A	1.45	(0.06)	0.02	0.08	1.82	(1.47)	2.82	(2.74)	14.01
CRM	1.21	(0.34)	0.00	(0.14)	0.00	0.00	2.12	(3.19)	8.50
JPM	0.84	0.12	0.10	0.23	0.83	(0.92)	1.83	(1.51)	5.90
MRK	1.37	(0.08)	(0.03)	0.04	1.98	(1.25)	2.90	(3.31)	10.58
XOM	1.05	0.02	(0.05)	0.26	1.30	(1.07)	2.14	(2.07)	6.26

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