SPDR SP Correlations

XHB Etf

USD 122.57 0.20 0.16%

The current 90-days correlation between SPDR SP Homebuilders and iShares Home Construction is 0.03 (i.e., Significant 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.

SPDR SP Correlation With Market

Very weak diversification

The correlation between SPDR SP Homebuilders and DJI is 0.45 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding SPDR SP Homebuilders 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 SP Homebuilders. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in rate.

Moving together with SPDR Etf

0.84	ITB	iShares Home Construction Low Volatility	Pair Corr
0.65	INTL	Main International ETF	Pair Corr
0.69	DD	Dupont De Nemours Fiscal Year End 4th of February 2025	Pair Corr
0.64	VZ	Verizon Communications Aggressive Push	Pair Corr
0.8	GE	GE Aerospace Fiscal Year End 28th of January 2025	Pair Corr

Related Correlations Analysis

	ITB	XRT	XLB	XLI	XME
ITB		0.14	0.63	0.1	0.13	ITB
XRT	0.14		0.35	0.87	0.69	XRT
XLB	0.63	0.35		0.49	0.52	XLB
XLI	0.1	0.87	0.49		0.87	XLI
XME	0.13	0.69	0.52	0.87		XME
	ITB	XRT	XLB	XLI	XME

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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
ITB	1.12	0.03	(0.05)	0.71	1.57	(1.10)	2.26	(2.81)	7.20
XRT	0.96	0.02	0.02	0.13	0.81	(1.10)	2.45	(1.68)	5.19
XLB	0.70	(0.08)	(0.13)	0.00	0.84	(0.72)	1.37	(1.27)	3.77
XLI	0.67	0.01	0.02	0.13	0.60	(0.76)	1.67	(1.16)	5.60
XME	1.25	0.22	0.07	15.56	1.26	(1.55)	3.33	(1.79)	10.59

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SPDR SP Correlations

SPDR SP Correlation With Market

Very weak diversification

Moving together with SPDR Etf

Related Correlations Analysis

SPDR SP Constituents Risk-Adjusted Indicators

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