SSgA SPDR Correlations

SSEEF Etf

USD 73.57 0.52 0.71%

The current 90-days correlation between SSgA SPDR ETFs and Vanguard Total Stock is 0.07 (i.e., Significant diversification). The correlation of SSgA SPDR 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.

SSgA SPDR Correlation With Market

Average diversification

The correlation between SSgA SPDR ETFs and DJI is 0.13 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding SSgA SPDR ETFs 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 SSgA SPDR ETFs. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in income.

Moving together with SSgA Pink Sheet

0.67

VTV

Vanguard Value Index

Pair Corr

Moving against SSgA Pink Sheet

0.71	MEME	Roundhill Investments	Pair Corr
0.62	RSPY	Tuttle Capital Management	Pair Corr
0.57	AMZU	Direxion Daily AMZN	Pair Corr
0.57	FEDL	UBS AG London	Pair Corr
0.52	DSJA	DSJA	Pair Corr
0.51	SOFR	SOFR Symbol Change	Pair Corr
0.5	ARKQ	ARK Autonomous Technology Low Volatility	Pair Corr
0.5	JBBB	Janus Detroit Street	Pair Corr
0.5	FELG	Fidelity Covington Trust	Pair Corr
0.48	VIRS	Pacer Financial	Pair Corr
0.48	QJUN	First Trust Exchange	Pair Corr
0.46	VUG	Vanguard Growth Index	Pair Corr
0.43	IDAT	Ishares Trust	Pair Corr
0.4	JANW	AIM ETF Products	Pair Corr
0.4	SABA	Saba Capital Income Symbol Change	Pair Corr
0.63	TSLP	Kurv Yield Premium	Pair Corr
0.62	AAPB	GraniteShares ETF Trust	Pair Corr
0.58	TBX	ProShares Short 7	Pair Corr
0.55	BSCO	Invesco BulletShares 2024	Pair Corr
0.53	AAA	Listed Funds Trust	Pair Corr
0.52	PGRO	Putnam Focused Large	Pair Corr
0.51	PDBA	Invesco Agriculture	Pair Corr
0.49	EFU	ProShares UltraShort MSCI	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.79	-0.54	-0.45	0.45	0.29	0.56	0.26	-0.13	-0.53	META
MSFT	0.79		-0.65	-0.37	0.56	0.05	0.63	0.39	-0.23	-0.75	MSFT
UBER	-0.54	-0.65		0.47	-0.72	0.18	-0.78	-0.55	0.61	0.75	UBER
F	-0.45	-0.37	0.47		0.01	-0.23	-0.06	0.28	-0.08	0.69	F
T	0.45	0.56	-0.72	0.01		-0.3	0.87	0.83	-0.68	-0.44	T
A	0.29	0.05	0.18	-0.23	-0.3		-0.31	-0.51	0.71	0.09	A
CRM	0.56	0.63	-0.78	-0.06	0.87	-0.31		0.87	-0.77	-0.5	CRM
JPM	0.26	0.39	-0.55	0.28	0.83	-0.51	0.87		-0.83	-0.27	JPM
MRK	-0.13	-0.23	0.61	-0.08	-0.68	0.71	-0.77	-0.83		0.29	MRK
XOM	-0.53	-0.75	0.75	0.69	-0.44	0.09	-0.5	-0.27	0.29		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	+ 0.87	T
JPM	+ 0.87	CRM
JPM	+ 0.83	T
MSFT	+ 0.79	META
XOM	+ 0.75	UBER
MRK	+ 0.71	A

High negative correlations

MRK	- 0.83	JPM
CRM	- 0.78	UBER
MRK	- 0.77	CRM
XOM	- 0.75	MSFT
T	- 0.72	UBER
MRK	- 0.68	T

SSgA SPDR Competition Risk-Adjusted Indicators

There is a big difference between SSgA Pink Sheet performing well and SSgA SPDR Company 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 SSgA SPDR'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	1.21	0.08	0.04	0.42	1.41	(1.37)	2.62	(3.15)	7.43
MSFT	0.87	0.00	(0.02)	0.02	1.65	(0.78)	1.78	(2.23)	8.14
UBER	1.65	(0.33)	0.00	(1.73)	0.00	0.00	2.53	(5.35)	20.41
F	1.39	(0.03)	0.00	(0.12)	0.00	0.00	2.53	(2.81)	11.21
T	0.95	0.10	0.07	0.39	1.13	(0.98)	1.93	(1.99)	7.95
A	1.19	(0.04)	0.00	(0.12)	0.00	0.00	2.71	(2.42)	9.02
CRM	1.46	0.33	0.19	20.66	1.34	(1.66)	3.18	(2.88)	14.80
JPM	1.06	0.23	0.16	(3.32)	1.11	(1.26)	1.99	(1.44)	15.87
MRK	0.97	(0.21)	0.00	(0.97)	0.00	0.00	1.72	(2.17)	5.17
XOM	0.84	(0.11)	0.00	(0.64)	0.00	0.00	1.83	(2.14)	6.06

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