SSGA Active Correlations

OBND Etf

USD 26.19 0.07 0.27%

The current 90-days correlation between SSGA Active Trust and Cohen Steers ETF is 0.37 (i.e., Weak diversification). The correlation of SSGA Active 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.

SSGA Active Correlation With Market

Significant diversification

The correlation between SSGA Active Trust and DJI is 0.06 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding SSGA Active Trust and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with SSGA Etf

Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in SSGA Active Trust. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in state.

Moving together with SSGA Etf

0.78	AXSAX	Axonic Strategic Income	Pair Corr
0.8	AXSIX	Axonic Strategic Income	Pair Corr
0.74	SMCRX	ALPSSmith Credit Opp	Pair Corr
0.74	SMCVX	ALPSSmith Credit Opp	Pair Corr
0.76	SMCAX	DEUTSCHE MID CAP	Pair Corr
0.86	SMCCX	DEUTSCHE MID CAP	Pair Corr
0.9	JPIE	JP Morgan Exchange	Pair Corr
0.83	AFIF	Anfield Universal Fixed	Pair Corr
0.93	MUSI	American Century Mul	Pair Corr
0.78	SIO	Touchstone Strategic	Pair Corr
0.61	SMH	VanEck Semiconductor ETF	Pair Corr
0.62	QLD	ProShares Ultra QQQ	Pair Corr
0.64	BJUN	Innovator SP 500	Pair Corr
0.65	IXSRF	IXSRF	Pair Corr
0.66	NMAY	Innovator Growth 100	Pair Corr
0.64	FELG	Fidelity Covington Trust	Pair Corr
0.72	EMOP	AB Active ETFs,	Pair Corr
0.75	CEMB	iShares JP Morgan	Pair Corr
0.63	IGM	iShares Expanded Tech	Pair Corr
0.77	NVBU	AllianzIM Equity Buffer15	Pair Corr
0.77	BKLN	Invesco Senior Loan	Pair Corr
0.66	ICLN	iShares Global Clean Sell-off Trend	Pair Corr
0.68	JEPQ	JPMorgan Nasdaq Equity	Pair Corr

Moving against SSGA Etf

0.37

GBTC

Grayscale Bitcoin Trust

Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.38	0.55	-0.72	0.71	-0.71	0.34	-0.22	-0.72	-0.66	META
MSFT	0.38		0.65	0.09	-0.23	0.16	0.5	0.24	-0.23	-0.12	MSFT
UBER	0.55	0.65		-0.28	0.24	-0.39	0.34	0.37	-0.62	-0.34	UBER
F	-0.72	0.09	-0.28		-0.76	0.79	0.03	0.32	0.62	0.72	F
T	0.71	-0.23	0.24	-0.76		-0.92	-0.02	-0.24	-0.57	-0.51	T
A	-0.71	0.16	-0.39	0.79	-0.92		-0.03	0.21	0.69	0.55	A
CRM	0.34	0.5	0.34	0.03	-0.02	-0.03		-0.15	-0.38	-0.29	CRM
JPM	-0.22	0.24	0.37	0.32	-0.24	0.21	-0.15		-0.16	0.38	JPM
MRK	-0.72	-0.23	-0.62	0.62	-0.57	0.69	-0.38	-0.16		0.54	MRK
XOM	-0.66	-0.12	-0.34	0.72	-0.51	0.55	-0.29	0.38	0.54		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

A	+ 0.79	F
XOM	+ 0.72	F
T	+ 0.71	META
MRK	+ 0.69	A
UBER	+ 0.65	MSFT
MRK	+ 0.62	F

High negative correlations

A	- 0.92	T
T	- 0.76	F
MRK	- 0.72	META
F	- 0.72	META
A	- 0.71	META
XOM	- 0.66	META

SSGA Active Competition Risk-Adjusted Indicators

There is a big difference between SSGA Etf performing well and SSGA Active 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 SSGA Active'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	1.24	(0.35)	0.00	(0.38)	0.00	0.00	1.87	(2.72)	13.52
MSFT	0.85	(0.13)	0.00	(0.14)	0.00	0.00	1.85	(2.19)	5.08
UBER	1.50	(0.21)	0.00	(0.15)	0.00	0.00	3.34	(3.30)	10.91
F	1.50	0.16	0.10	0.14	1.66	(1.72)	3.66	(2.35)	16.30
T	1.00	(0.19)	0.00	(0.78)	0.00	0.00	1.84	(2.32)	6.25
A	1.32	0.34	0.25	0.30	1.02	(1.50)	3.93	(2.15)	11.03
CRM	1.61	(0.15)	0.00	(0.10)	0.00	0.00	2.93	(3.61)	9.91
JPM	0.89	0.00	0.00	0.04	1.33	(0.82)	1.67	(1.91)	5.76
MRK	1.29	0.19	0.13	0.38	1.14	(1.67)	3.84	(2.36)	11.45
XOM	0.93	0.10	0.06	0.40	1.10	(0.90)	1.78	(1.93)	4.71

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