SPDR FTSE Correlations

WIP Etf

USD 37.52 0.52 1.41%

The current 90-days correlation between SPDR FTSE International and SPDR Bloomberg Short is 0.64 (i.e., Poor diversification). The correlation of SPDR FTSE 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 FTSE Correlation With Market

Average diversification

The correlation between SPDR FTSE International and DJI is 0.19 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding SPDR FTSE International and DJI in the same portfolio, assuming nothing else is changed.

Check out Your Current Watchlist to better understand how to build diversified portfolios, which includes a position in SPDR FTSE International. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in gross domestic product.

Moving together with SPDR Etf

0.9	IGOV	iShares International	Pair Corr
0.84	BWX	SPDR Bloomberg Inter	Pair Corr
0.85	JPIB	JPMorgan International	Pair Corr
0.89	BWZ	SPDR Bloomberg Short	Pair Corr
0.96	PICB	Invesco International	Pair Corr
0.87	GRNB	VanEck Green Bond	Pair Corr
0.88	SPSK	SP Funds Dow	Pair Corr
0.87	ISHG	iShares 1 3	Pair Corr
0.86	DGP	DB Gold Double	Pair Corr
0.69	SCHF	Schwab International	Pair Corr
0.88	DAX	Global X DAX	Pair Corr
0.87	RODM	Hartford Multifactor	Pair Corr
0.79	MCHS	Matthews China Discovery	Pair Corr
0.84	BKF	iShares MSCI BIC	Pair Corr
0.76	INTF	iShares Edge MSCI	Pair Corr
0.64	GOF	Guggenheim Strategic	Pair Corr
0.65	VXUS	Vanguard Total Inter	Pair Corr
0.63	PPT	Putnam Premier Income	Pair Corr
0.9	SDFI	AB Active ETFs,	Pair Corr
0.75	GNT	GAMCO Natural Resources	Pair Corr
0.87	EVSD	Eaton Vance Short	Pair Corr
0.88	UYLD	Angel Oak UltraShort	Pair Corr
0.66	ASET	FlexShares Real Assets	Pair Corr
0.81	DSCF	Discipline Fund ETF	Pair Corr
0.87	EUAD	Select STOXX Europe	Pair Corr
0.83	XHLF	Bondbloxx ETF Trust	Pair Corr
0.73	EWD	iShares MSCI Sweden	Pair Corr
0.83	ACWV	iShares MSCI Global	Pair Corr
0.85	EZU	iShares MSCI Eurozone	Pair Corr

Moving against SPDR Etf

0.69	GBTC	Grayscale Bitcoin Trust	Pair Corr
0.37	FNGU	MicroSectors FANG Index Symbol Change	Pair Corr
0.32	FTXN	First Trust Nasdaq	Pair Corr

Related Correlations Analysis

	BWZ	PICB	EBND	HYMB	BWX
BWZ		0.96	0.76	-0.19	0.92	BWZ
PICB	0.96		0.84	-0.01	0.9	PICB
EBND	0.76	0.84		0.38	0.82	EBND
HYMB	-0.19	-0.01	0.38		-0.05	HYMB
BWX	0.92	0.9	0.82	-0.05		BWX
	BWZ	PICB	EBND	HYMB	BWX

Click cells to compare fundamentals

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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

PICB	+ 0.96	BWZ
BWX	+ 0.92	BWZ
BWX	+ 0.9	PICB
EBND	+ 0.84	PICB
BWX	+ 0.82	EBND
EBND	+ 0.76	BWZ

High negative correlations

HYMB	- 0.19	BWZ
BWX	- 0.05	HYMB
HYMB	- 0.01	PICB

SPDR FTSE Constituents Risk-Adjusted Indicators

There is a big difference between SPDR Etf performing well and SPDR FTSE 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 FTSE'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
BWZ	0.43	0.08	0.50	(1.86)	0.19	(0.58)	0.95	(0.71)	2.46
PICB	0.46	0.08	0.38	4.52	0.37	(0.56)	1.06	(0.84)	2.92
EBND	0.38	0.04	0.29	(0.72)	0.39	(0.46)	0.96	(0.67)	2.86
HYMB	0.36	(0.06)	0.00	(1.39)	0.00	0.00	0.50	(0.70)	4.58
BWX	0.37	0.04	0.33	(0.62)	0.32	(0.43)	0.86	(0.78)	3.36

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