SPDR SP Correlations
SDY Etf | USD 138.62 0.22 0.16% |
The current 90-days correlation between SPDR SP Dividend and iShares Select Dividend is 0.96 (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 Dividend and DJI is 0.81 (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 Dividend and DJI in the same portfolio, assuming nothing else is changed.
Moving together with SPDR Etf
0.98 | VOE | Vanguard Mid Cap | PairCorr |
0.98 | IWS | iShares Russell Mid | PairCorr |
0.97 | SPYD | SPDR Portfolio SP | PairCorr |
0.97 | COWZ | Pacer Cash Cows | PairCorr |
0.98 | DON | WisdomTree MidCap | PairCorr |
0.96 | RPV | Invesco SP 500 | PairCorr |
0.98 | PEY | Invesco High Yield | PairCorr |
0.97 | PKW | Invesco BuyBack Achievers | PairCorr |
0.99 | ONEY | SPDR Russell 1000 | PairCorr |
0.62 | PMBS | PIMCO Mortgage Backed | PairCorr |
0.94 | SIXD | AIM ETF Products | PairCorr |
0.89 | PFFL | ETRACS 2xMonthly Pay | PairCorr |
0.94 | CEFD | ETRACS Monthly Pay | PairCorr |
0.97 | VFVA | Vanguard Value Factor | PairCorr |
0.84 | NFLX | Netflix Downward Rally | PairCorr |
0.78 | KWEB | KraneShares CSI China Aggressive Push | PairCorr |
0.94 | CGGO | Capital Group Global | PairCorr |
0.65 | EUSB | iShares Trust | PairCorr |
0.93 | QTOC | Innovator ETFs Trust | PairCorr |
0.77 | VBF | Invesco Van Kampen | PairCorr |
0.92 | PFUT | Putnam Sustainable Future | PairCorr |
0.73 | HIDE | Alpha Architect High | PairCorr |
0.92 | MYMF | SPDR SSGA My2026 | PairCorr |
0.96 | BUFD | FT Cboe Vest | PairCorr |
0.95 | SRLN | SPDR Blackstone Senior | PairCorr |
0.82 | KGRN | KraneShares MSCI China | PairCorr |
0.85 | VABS | Virtus Newfleet ABSMBS | PairCorr |
0.84 | SPIB | SPDR Barclays Interm | PairCorr |
Moving against SPDR Etf
0.95 | VXX | iPath Series B | PairCorr |
0.95 | VIXY | ProShares VIX Short | PairCorr |
0.77 | YCL | ProShares Ultra Yen | PairCorr |
Related Correlations Analysis
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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 | ||
---|---|---|---|---|---|---|---|---|---|---|
DVY | 0.66 | 0.02 | (0.01) | 0.16 | 0.75 | 1.39 | 4.83 | |||
VIG | 0.62 | 0.04 | 0.02 | 0.18 | 0.63 | 1.49 | 4.27 | |||
VYM | 0.58 | 0.05 | 0.02 | 0.19 | 0.57 | 1.56 | 4.21 | |||
NOBL | 0.72 | (0.03) | (0.06) | 0.09 | 0.77 | 1.74 | 4.47 | |||
HDV | 0.55 | 0.01 | (0.08) | 0.16 | 0.52 | 1.13 | 3.28 |