SPDR SP Correlations

SLYV Etf

USD 80.87 0.76 0.93%

The current 90-days correlation between SPDR SP 600 and Dimensional ETF Trust is 0.46 (i.e., Very weak 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 600 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 600 and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with SPDR Etf

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in SPDR SP 600. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in manufacturing.

Moving together with SPDR Etf

0.99	VBR	Vanguard Small Cap Potential Growth	Pair Corr
0.99	IWN	iShares Russell 2000	Pair Corr
0.99	IJJ	iShares SP Mid	Pair Corr
1.0	DFAT	Dimensional Targeted	Pair Corr
1.0	IJS	iShares SP Small	Pair Corr
0.99	AVUV	Avantis Small Cap	Pair Corr
0.99	DES	WisdomTree SmallCap	Pair Corr
1.0	MDYV	SPDR SP 400	Pair Corr
0.97	CALF	Pacer Small Cap	Pair Corr
0.93	USD	ProShares Ultra Semi	Pair Corr
0.86	GBTC	Grayscale Bitcoin Trust Sell-off Trend	Pair Corr
0.9	DFEN	Direxion Daily Aerospace	Pair Corr
0.92	FNGO	MicroSectors FANG Index	Pair Corr
0.95	DUSL	Direxion Daily Indus	Pair Corr
0.95	TECL	Direxion Daily Technology	Pair Corr
0.8	DIG	ProShares Ultra Oil	Pair Corr
0.62	MLPR	ETRACS Quarterly Pay	Pair Corr
0.75	KWEB	KraneShares CSI China	Pair Corr
0.73	DFCF	Dimensional ETF Trust	Pair Corr
0.91	KEMQ	KraneShares Emerging	Pair Corr
0.72	IBM	International Business	Pair Corr
0.95	CAT	Caterpillar Earnings Call This Week	Pair Corr
0.9	BA	Boeing	Pair Corr
0.94	JPM	JPMorgan Chase	Pair Corr
0.82	PFE	Pfizer Inc Earnings Call This Week	Pair Corr
0.93	AA	Alcoa Corp	Pair Corr
0.83	GE	GE Aerospace	Pair Corr
0.94	DD	Dupont De Nemours	Pair Corr
0.86	DIS	Walt Disney Earnings Call This Week	Pair Corr
0.89	CVX	Chevron Corp Earnings Call Tomorrow	Pair Corr
0.93	BAC	Bank of America	Pair Corr
0.75	INTC	Intel	Pair Corr

Moving against SPDR Etf

0.48	FNGU	MicroSectors FANG Index Symbol Change	Pair Corr
0.48	TRV	The Travelers Companies	Pair Corr

Related Correlations Analysis

	DISV	RB	VB	MMSC	VIOG	VIOV	VIOO	DWAS	VTWG
DISV		-0.22	0.93	0.96	0.92	0.92	0.93	0.92	0.96	DISV
RB	-0.22		-0.17	-0.22	-0.23	-0.2	-0.21	-0.26	-0.2	RB
VB	0.93	-0.17		0.97	0.99	0.99	0.99	0.96	0.98	VB
MMSC	0.96	-0.22	0.97		0.96	0.94	0.95	0.96	0.99	MMSC
VIOG	0.92	-0.23	0.99	0.96		0.98	0.99	0.97	0.98	VIOG
VIOV	0.92	-0.2	0.99	0.94	0.98		1.0	0.93	0.97	VIOV
VIOO	0.93	-0.21	0.99	0.95	0.99	1.0		0.95	0.98	VIOO
DWAS	0.92	-0.26	0.96	0.96	0.97	0.93	0.95		0.97	DWAS
VTWG	0.96	-0.2	0.98	0.99	0.98	0.97	0.98	0.97		VTWG
	DISV	RB	VB	MMSC	VIOG	VIOV	VIOO	DWAS	VTWG

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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

VIOO	+ 1.0	VIOV
VIOG	+ 0.99	VB
VIOV	+ 0.99	VB
VIOO	+ 0.99	VB
VTWG	+ 0.99	MMSC
VIOO	+ 0.99	VIOG

High negative correlations

DWAS	- 0.26	RB
VIOG	- 0.23	RB
MMSC	- 0.22	RB
RB	- 0.22	DISV
VIOO	- 0.21	RB
VTWG	- 0.2	RB

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
DISV	0.55	0.10	0.02	0.38	0.43	(0.64)	1.32	(1.08)	3.53
RB	0.21	0.03	(0.60)	0.78	0.00	(0.30)	0.54	(0.27)	1.00
VB	0.75	0.02	0.05	0.17	0.69	(0.88)	1.66	(1.10)	6.49
MMSC	0.76	0.06	0.07	0.21	0.58	(0.85)	1.72	(1.36)	5.70
VIOG	0.79	0.00	0.02	0.15	0.79	(0.88)	1.66	(1.51)	5.25
VIOV	1.00	(0.04)	0.02	0.12	1.00	(1.11)	2.58	(1.89)	7.33
VIOO	0.90	(0.02)	0.02	0.13	0.89	(1.02)	1.79	(1.69)	6.55
DWAS	0.87	(0.02)	0.01	0.14	0.87	(0.96)	2.05	(1.65)	4.96
VTWG	0.89	0.03	0.07	0.17	0.82	(0.94)	1.94	(1.39)	6.79

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