SPDR SP Correlations

WXOZ Etf

49.28 0.17 0.35%

The current 90-days correlation between SPDR SP World and VanEck Global Listed is 0.69 (i.e., Poor diversification). The correlation of SPDR SP 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 SP Correlation With Market

Significant diversification

The correlation between SPDR SP World and DJI is 0.04 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding SPDR SP World and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to SPDR SP could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace SPDR SP when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back SPDR SP - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling SPDR SP World to buy it.

Moving together with SPDR Etf

0.96	AAA	Australian High Interest	Pair Corr
0.74	VBLD	Vanguard Global Infr	Pair Corr
0.64	E200	SPDR SPASX 200	Pair Corr
0.88	IHVV	iShares SP 500	Pair Corr
0.95	JEPI	JPMorgan Equity Premium	Pair Corr
0.91	IJH	iShares CoreSP MidCap	Pair Corr
0.95	QYLD	Global X Nasdaq	Pair Corr

Moving against SPDR Etf

0.42

CD3

CD Private Equity

Pair Corr

Related Correlations Analysis

	GPEQ	CRYP	GGOV	GEAR	SEMI	ILB	AGVT	RBTZ	IAA
GPEQ		0.97	-0.6	0.52	0.43	-0.21	-0.09	0.94	0.02	GPEQ
CRYP	0.97		-0.62	0.54	0.37	-0.26	-0.17	0.94	-0.08	CRYP
GGOV	-0.6	-0.62		0.0	-0.49	0.8	0.72	-0.63	-0.27	GGOV
GEAR	0.52	0.54	0.0		-0.07	0.09	0.14	0.51	-0.33	GEAR
SEMI	0.43	0.37	-0.49	-0.07		-0.33	-0.17	0.47	0.49	SEMI
ILB	-0.21	-0.26	0.8	0.09	-0.33		0.93	-0.29	-0.15	ILB
AGVT	-0.09	-0.17	0.72	0.14	-0.17	0.93		-0.18	-0.09	AGVT
RBTZ	0.94	0.94	-0.63	0.51	0.47	-0.29	-0.18		0.08	RBTZ
IAA	0.02	-0.08	-0.27	-0.33	0.49	-0.15	-0.09	0.08		IAA
	GPEQ	CRYP	GGOV	GEAR	SEMI	ILB	AGVT	RBTZ	IAA

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

CRYP	+ 0.97	GPEQ
RBTZ	+ 0.94	GPEQ
RBTZ	+ 0.94	CRYP
AGVT	+ 0.93	ILB
ILB	+ 0.8	GGOV
AGVT	+ 0.72	GGOV

High negative correlations

RBTZ	- 0.63	GGOV
GGOV	- 0.62	CRYP
GGOV	- 0.6	GPEQ
SEMI	- 0.49	GGOV
ILB	- 0.33	SEMI
IAA	- 0.33	GEAR

SPDR SP Constituents Risk-Adjusted Indicators

There is a big difference between SPDR Etf performing well and SPDR SP 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 SP'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
GPEQ	0.73	0.17	0.17	12.37	0.61	(0.86)	1.58	(1.17)	4.96
CRYP	3.64	0.82	0.22	1.38	3.32	(4.45)	10.06	(6.30)	19.98
GGOV	0.64	(0.17)	0.00	3.00	0.00	0.00	1.00	(1.68)	3.34
GEAR	1.19	0.00	(0.01)	0.04	1.52	(1.22)	2.17	(2.12)	6.46
SEMI	1.24	0.14	0.06	1.13	1.51	(1.36)	2.95	(2.58)	9.45
ILB	0.26	(0.04)	0.00	0.63	0.00	0.00	0.47	(0.58)	1.65
AGVT	0.31	(0.04)	0.00	0.70	0.00	0.00	0.55	(0.71)	1.71
RBTZ	0.87	0.19	0.15	1.58	0.92	(1.01)	1.90	(1.69)	5.38
IAA	0.86	0.15	0.12	0.85	0.78	(0.89)	2.13	(1.67)	4.66

Be your own money manager

Our tools can tell you how much better you can do entering a position in SPDR SP without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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