SPDR Portfolio Correlations

SPYD Etf  USD 47.32  0.16  0.34%   
The current 90-days correlation between SPDR Portfolio SP and Invesco SP 500 is 0.93 (i.e., Almost no diversification). The correlation of SPDR Portfolio 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.

SPDR Portfolio Correlation With Market

Poor diversification

The correlation between SPDR Portfolio SP and DJI is 0.64 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding SPDR Portfolio SP and DJI in the same portfolio, assuming nothing else is changed.
  
Check out World Market Map to better understand how to build diversified portfolios, which includes a position in SPDR Portfolio SP. 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

  0.93VTV Vanguard Value Index Sell-off TrendPairCorr
  0.91VYM Vanguard High DividendPairCorr
  0.93IWD iShares Russell 1000PairCorr
  0.92DGRO iShares Core Dividend Sell-off TrendPairCorr
  0.94IVE iShares SP 500PairCorr
  0.95DVY iShares Select DividendPairCorr
  0.94SPYV SPDR Portfolio SPPairCorr
  0.97FVD First Trust ValuePairCorr
  0.94IUSV iShares Core SPPairCorr
  0.86NOBL ProShares SP 500PairCorr
  0.85IYC iShares Consumer DisPairCorr
  0.87VTI Vanguard Total StockPairCorr
  0.87VBK Vanguard Small CapPairCorr
  0.8HD Home Depot Sell-off TrendPairCorr
  0.74CAT Caterpillar Fiscal Year End 3rd of February 2025 PairCorr
  0.83CSCO Cisco Systems Aggressive PushPairCorr
  0.73CVX Chevron Corp Sell-off TrendPairCorr
  0.83AA Alcoa Corp Fiscal Year End 15th of January 2025 PairCorr
  0.86WMT Walmart Aggressive PushPairCorr
  0.74INTC Intel Fiscal Year End 23rd of January 2025 PairCorr
  0.89AXP American Express Fiscal Year End 24th of January 2025 PairCorr
  0.67JPM JPMorgan Chase Sell-off TrendPairCorr

Moving against SPDR Etf

  0.46AIVI WisdomTree InternationalPairCorr
  0.31VPL Vanguard FTSE PacificPairCorr
  0.61MRK Merck Company Fiscal Year End 6th of February 2025 PairCorr
  0.61BA Boeing Fiscal Year End 29th of January 2025 PairCorr
  0.55KO Coca Cola Sell-off TrendPairCorr

Related Correlations Analysis

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SPDR Portfolio Constituents Risk-Adjusted Indicators

There is a big difference between SPDR Etf performing well and SPDR Portfolio 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 Portfolio'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.