SPDR FactSet Correlations

XITK Etf

USD 181.68 2.80 1.57%

The current 90-days correlation between SPDR FactSet Innovative and Pacer Swan SOS is 0.66 (i.e., Poor diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as SPDR FactSet moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if SPDR FactSet Innovative moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

SPDR FactSet Correlation With Market

Poor diversification

The correlation between SPDR FactSet Innovative and DJI is 0.73 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding SPDR FactSet Innovative and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with SPDR Etf

Check out Your Current Watchlist to better understand how to build diversified portfolios, which includes a position in SPDR FactSet Innovative. 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

0.76	CIBR	First Trust NASDAQ	Pair Corr
0.75	IGV	iShares Expanded Tech	Pair Corr
0.91	FDN	First Trust Dow	Pair Corr
0.66	ITWO	Proshares Russell 2000 Upward Rally	Pair Corr
0.77	HFMF	Unlimited HFMF Managed	Pair Corr
0.61	DWAS	Invesco DWA SmallCap	Pair Corr
0.86	IXP	iShares Global Comm	Pair Corr
0.65	EMLC	VanEck JP Morgan	Pair Corr
0.67	RDVI	FT Cboe Vest	Pair Corr
0.61	JUNP	PGIM Large Cap	Pair Corr

Moving against SPDR Etf

0.81

VIXY

ProShares VIX Short Low Volatility

Pair Corr

Related Correlations Analysis

	PSMR	EEMX	FDCF	CNEQ	JULT	DTEC	PSMJ	FITE	ELFY	DVOL
PSMR		0.96	0.8	0.92	0.99	0.83	0.99	0.91	0.89	-0.18	PSMR
EEMX	0.96		0.74	0.94	0.97	0.8	0.97	0.93	0.94	-0.25	EEMX
FDCF	0.8	0.74		0.83	0.83	0.8	0.82	0.72	0.6	-0.06	FDCF
CNEQ	0.92	0.94	0.83		0.94	0.78	0.94	0.91	0.9	-0.2	CNEQ
JULT	0.99	0.97	0.83	0.94		0.84	1.0	0.91	0.89	-0.18	JULT
DTEC	0.83	0.8	0.8	0.78	0.84		0.83	0.88	0.77	0.07	DTEC
PSMJ	0.99	0.97	0.82	0.94	1.0	0.83		0.92	0.9	-0.17	PSMJ
FITE	0.91	0.93	0.72	0.91	0.91	0.88	0.92		0.95	-0.07	FITE
ELFY	0.89	0.94	0.6	0.9	0.89	0.77	0.9	0.95		-0.18	ELFY
DVOL	-0.18	-0.25	-0.06	-0.2	-0.18	0.07	-0.17	-0.07	-0.18		DVOL
	PSMR	EEMX	FDCF	CNEQ	JULT	DTEC	PSMJ	FITE	ELFY	DVOL

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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

PSMJ	+ 1.0	JULT
JULT	+ 0.99	PSMR
PSMJ	+ 0.99	PSMR
JULT	+ 0.97	EEMX
PSMJ	+ 0.97	EEMX
EEMX	+ 0.96	PSMR

High negative correlations

DVOL	- 0.25	EEMX
DVOL	- 0.2	CNEQ
DVOL	- 0.18	ELFY
DVOL	- 0.18	JULT
DVOL	- 0.18	PSMR
DVOL	- 0.17	PSMJ

SPDR FactSet Constituents Risk-Adjusted Indicators

There is a big difference between SPDR Etf performing well and SPDR FactSet 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 FactSet'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
PSMR	0.13	0.00	(0.40)	0.10	0.00	(0.15)	0.31	(0.24)	0.93
EEMX	0.72	0.06	0.05	0.15	0.82	(0.79)	1.33	(1.04)	5.74
FDCF	0.78	(0.06)	(0.03)	0.05	1.00	(0.82)	1.59	(2.00)	5.87
CNEQ	0.95	0.02	0.02	0.11	1.33	(0.96)	2.08	(2.41)	6.06
JULT	0.27	0.00	(0.11)	0.08	0.28	(0.28)	0.59	(0.50)	2.55
DTEC	0.82	(0.08)	(0.04)	0.04	1.10	(0.83)	1.45	(1.88)	6.03
PSMJ	0.20	0.00	(0.21)	0.09	0.14	(0.21)	0.49	(0.38)	1.70
FITE	1.09	0.02	0.06	0.10	1.18	(1.17)	2.47	(1.84)	6.72
ELFY	0.79	0.00	0.01	0.09	0.82	(0.88)	1.67	(1.54)	4.74
DVOL	0.43	(0.05)	(0.16)	0.00	0.54	(0.48)	0.98	(0.82)	3.53

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