SPDR SSGA Correlations

SPIN Etf

USD 31.58 0.17 0.54%

The current 90-days correlation between SPDR SSGA Equity and EA Series Trust is 0.55 (i.e., Very weak 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 Equity moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

SPDR SSGA Correlation With Market

Poor diversification

The correlation between SPDR SSGA Equity and DJI is 0.69 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding SPDR SSGA Equity 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 SSGA Equity. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in census.

Moving together with SPDR Etf

0.92	ZBIO	Zenas BioPharma, Common	Pair Corr
0.8	ENGN	enGene Holdings Common	Pair Corr
0.86	AMLX	Amylyx Pharmaceuticals	Pair Corr
0.97	VTI	Vanguard Total Stock	Pair Corr
0.9	VBK	Vanguard Small Cap	Pair Corr
0.94	DUKH	Ocean Park High	Pair Corr
0.98	INFO	Harbor ETF Trust	Pair Corr
0.9	EEM	iShares MSCI Emerging	Pair Corr
0.96	LJAN	Innovator ETFs Trust	Pair Corr
0.7	LFAU	Stone Ridge 2058	Pair Corr
0.88	YETH	Roundhill Ether Covered Low Volatility	Pair Corr
0.92	VYMI	Vanguard International	Pair Corr
0.94	FCEF	First Trust Income	Pair Corr
0.87	XIDV	Franklin Templeton ETF	Pair Corr
0.98	XRLX	FundX Investment Trust	Pair Corr
0.87	ROM	ProShares Ultra Tech	Pair Corr
0.95	IBDS	iShares iBonds Dec	Pair Corr
0.99	PSTP	Innovator Power Buffer	Pair Corr
0.95	GOOY	Tidal Trust II	Pair Corr
0.8	FDEV	Fidelity International	Pair Corr
0.99	XDSQ	Innovator Equity Acc	Pair Corr
0.93	SIHY	Harbor ETF Trust	Pair Corr
0.85	IDEF	iShares Defense Indu	Pair Corr
0.89	MBSD	FlexShares Disciplined	Pair Corr
0.77	NFRA	FlexShares STOXX Global	Pair Corr
0.89	RSSL	Global X Funds	Pair Corr
0.76	XXCH	Direxion Shares ETF	Pair Corr
0.9	HEAT	Touchstone Climate Low Volatility	Pair Corr
0.9	PSF	Cohen and Steers	Pair Corr
0.94	CNYA	iShares MSCI China	Pair Corr
0.83	BMED	BlackRock Future Health	Pair Corr
0.98	ZSEP	Innovator Equity Defined	Pair Corr

Moving against SPDR Etf

0.8	ALTS	ALT5 Sigma	Pair Corr
0.41	NFLX	Netflix	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.34	0.26	0.24	0.6	0.2	-0.77	0.29	0.01	-0.11	META
MSFT	0.34		-0.31	-0.31	-0.18	-0.26	-0.46	0.14	-0.29	-0.36	MSFT
UBER	0.26	-0.31		0.79	0.42	0.59	-0.26	0.53	0.2	0.6	UBER
F	0.24	-0.31	0.79		0.46	0.74	-0.39	0.52	0.49	0.63	F
T	0.6	-0.18	0.42	0.46		0.53	-0.49	0.42	0.32	0.2	T
A	0.2	-0.26	0.59	0.74	0.53		-0.24	0.65	0.52	0.62	A
CRM	-0.77	-0.46	-0.26	-0.39	-0.49	-0.24		-0.41	-0.14	0.06	CRM
JPM	0.29	0.14	0.53	0.52	0.42	0.65	-0.41		0.03	0.61	JPM
MRK	0.01	-0.29	0.2	0.49	0.32	0.52	-0.14	0.03		0.16	MRK
XOM	-0.11	-0.36	0.6	0.63	0.2	0.62	0.06	0.61	0.16		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

F	+ 0.79	UBER
A	+ 0.74	F
JPM	+ 0.65	A
XOM	+ 0.63	F
XOM	+ 0.62	A
XOM	+ 0.61	JPM

High negative correlations

CRM	- 0.77	META
CRM	- 0.49	T
CRM	- 0.46	MSFT
JPM	- 0.41	CRM
CRM	- 0.39	F
XOM	- 0.36	MSFT

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	1.20	0.09	(0.04)	(0.01)	1.32	(1.38)	2.12	(2.27)	14.28
MSFT	0.73	0.04	(0.01)	0.20	0.81	(0.78)	1.77	(1.47)	6.50
UBER	1.37	0.04	(0.01)	0.26	1.73	(1.40)	3.26	(2.30)	8.86
F	1.15	0.11	0.10	0.16	1.16	(1.27)	3.36	(1.83)	7.46
T	0.77	(0.07)	0.00	(1.37)	0.00	0.00	1.75	(2.28)	4.41
A	1.54	0.12	0.10	0.13	1.55	(1.66)	3.82	(2.59)	8.31
CRM	1.32	(0.17)	0.00	0.40	0.00	0.00	2.32	(3.30)	8.74
JPM	0.78	0.03	0.03	0.10	1.06	(0.79)	1.69	(1.51)	5.01
MRK	1.35	0.14	0.09	0.20	1.36	(1.44)	3.01	(2.57)	7.78
XOM	0.95	0.05	0.00	0.21	1.33	(0.90)	1.72	(2.42)	6.25

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