Correlation Analysis Between SPDR SP and iShares Russell

This module allows you to analyze existing cross correlation between SPDR SP 500 ETF and iShares Russell 1000 ETF. You can compare the effects of market volatilities on SPDR SP and iShares Russell and check how they will diversify away market risk if combined in the same portfolio for a given time horizon. You can also utilize pair trading strategies of matching a long position in SPDR SP with a short position of iShares Russell. See also your portfolio center. Please also check ongoing floating volatility patterns of SPDR SP and iShares Russell.
Horizon     30 Days    Login   to change

SPDR SP 500 ETF  vs.  iShares Russell 1000 ETF

 Performance (%) 

Pair Volatility

If you would invest  28,617  in SPDR SP 500 ETF on August 22, 2018 and sell it today you would earn a total of  741.00  from holding SPDR SP 500 ETF or generate 2.59% return on investment over 30 days.

Pair Corralation between SPDR SP and iShares Russell

Time Period1 Month [change]
ValuesDaily Returns


Pay attention

Overlapping area represents the amount of risk that can be diversified away by holding SPDR SP 500 ETF and iShares Russell 1000 ETF in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on iShares Russell 1000 and SPDR SP is a relative statistical measure of the degree to which these equity instruments tend to move together. The correlation coefficient measures the extent to which returns on SPDR SP 500 ETF are associated (or correlated) with iShares Russell. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of iShares Russell 1000 has no effect on the direction of SPDR SP i.e. SPDR SP and iShares Russell go up and down completely randomly.

Comparative Volatility

SPDR SP 500  

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in SPDR SP 500 ETF are ranked lower than 18 (%) of all global equities and portfolios over the last 30 days.
iShares Russell 1000  

Risk-Adjusted Performance

Over the last 30 days iShares Russell 1000 ETF has generated negative risk-adjusted returns adding no value to investors with long positions.

My Equities

My Current Equities and Potential Positions

View AllNext
GOOG - USA Stock
IT, Search Cloud And Integrated IT Services
Business Address1600 Amphitheatre Parkway

Thematic Opportunities

Explore Investment Opportunities

Build portfolios using Macroaxis predefined set of investing ideas. Many of Macroaxis investing ideas can easily outperform a given market. Ideas can also be optimized per your risk profile before portfolio origination is invoked.
Explore Thematic Ideas
Explore Investing Ideas  
See also your portfolio center. Please also try Commodity Channel Index module to use commodity channel index to analyze current equity momentum.