SPDR Barclays Correlations

SPTL Etf

USD 26.33 0.22 0.83%

The current 90-days correlation between SPDR Barclays Long and SPDR Barclays Short is 0.51 (i.e., Very weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as SPDR Barclays moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if SPDR Barclays Long moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

SPDR Barclays Correlation With Market

Significant diversification

The correlation between SPDR Barclays Long and DJI is 0.01 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding SPDR Barclays Long 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 Barclays Long. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in estimate.

Moving together with SPDR Etf

1.0	TLT	iShares 20 Year	Pair Corr
0.85	IEF	iShares 7 10 Sell-off Trend	Pair Corr
1.0	TLH	iShares 10 20	Pair Corr
0.95	EDV	Vanguard Extended	Pair Corr
0.95	GOVZ	iShares 25 Year	Pair Corr
1.0	SCHQ	Schwab Long Term	Pair Corr
0.83	TYA	Simplify Exchange Traded	Pair Corr
0.9	BND	Vanguard Total Bond Sell-off Trend	Pair Corr
0.66	VZ	Verizon Communications Earnings Call This Week	Pair Corr
0.72	T	ATT Inc Earnings Call This Week	Pair Corr
0.62	KO	Coca Cola Aggressive Push	Pair Corr
0.72	JNJ	Johnson Johnson	Pair Corr
0.64	TRV	The Travelers Companies	Pair Corr

Moving against SPDR Etf

0.49	VUG	Vanguard Growth Index	Pair Corr
0.46	VB	Vanguard Small Cap	Pair Corr
0.42	VTI	Vanguard Total Stock	Pair Corr
0.4	SPY	SPDR SP 500	Pair Corr
0.4	IVV	iShares Core SP	Pair Corr
0.39	VO	Vanguard Mid Cap	Pair Corr
0.67	MSFT	Microsoft Earnings Call This Week	Pair Corr
0.53	HD	Home Depot	Pair Corr
0.48	CAT	Caterpillar Earnings Call This Week	Pair Corr
0.43	WMT	Walmart Aggressive Push	Pair Corr
0.38	JPM	JPMorgan Chase	Pair Corr
0.37	BA	Boeing Earnings Call This Week	Pair Corr
0.32	HPQ	HP Inc	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.65	0.34	-0.24	-0.42	0.79	0.85	0.88	0.31	0.08	META
MSFT	0.65		-0.11	0.08	-0.83	0.9	0.9	0.71	0.53	-0.02	MSFT
UBER	0.34	-0.11		-0.22	0.43	-0.13	-0.07	0.33	-0.36	0.27	UBER
F	-0.24	0.08	-0.22		0.02	0.03	-0.04	-0.22	0.49	0.6	F
T	-0.42	-0.83	0.43	0.02		-0.81	-0.77	-0.42	-0.54	0.22	T
A	0.79	0.9	-0.13	0.03	-0.81		0.97	0.79	0.64	0.07	A
CRM	0.85	0.9	-0.07	-0.04	-0.77	0.97		0.83	0.53	0.0	CRM
JPM	0.88	0.71	0.33	-0.22	-0.42	0.79	0.83		0.21	0.07	JPM
MRK	0.31	0.53	-0.36	0.49	-0.54	0.64	0.53	0.21		0.33	MRK
XOM	0.08	-0.02	0.27	0.6	0.22	0.07	0.0	0.07	0.33		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

CRM	+ 0.97	A
A	+ 0.9	MSFT
CRM	+ 0.9	MSFT
JPM	+ 0.88	META
CRM	+ 0.85	META
JPM	+ 0.83	CRM

High negative correlations

T	- 0.83	MSFT
A	- 0.81	T
CRM	- 0.77	T
MRK	- 0.54	T
JPM	- 0.42	T
T	- 0.42	META

SPDR Barclays Competition Risk-Adjusted Indicators

There is a big difference between SPDR Etf performing well and SPDR Barclays 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 Barclays' 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	2.11	(0.02)	0.00	(0.14)	0.00	0.00	2.96	(4.67)	21.50
MSFT	1.38	(0.05)	0.00	(0.17)	0.00	0.00	2.91	(3.34)	13.79
UBER	2.24	0.42	0.12	0.21	2.89	(2.16)	5.40	(4.21)	16.03
F	1.97	0.18	0.06	0.05	2.81	(1.92)	3.19	(3.88)	13.11
T	1.12	0.36	0.20	(6.44)	2.05	(1.21)	1.97	(1.75)	13.13
A	1.59	(0.35)	0.00	(0.43)	0.00	0.00	2.92	(5.45)	14.45
CRM	1.68	(0.25)	0.00	(0.34)	0.00	0.00	2.82	(4.51)	12.32
JPM	1.54	(0.04)	0.00	(0.27)	0.00	0.00	2.66	(4.15)	11.14
MRK	1.50	(0.29)	0.00	(0.84)	0.00	0.00	2.43	(4.81)	11.58
XOM	1.41	0.09	0.00	(0.02)	0.00	0.00	2.69	(3.21)	10.54

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