SPDR MarketAxess Correlations

LQIG Etf

USD 99.27 0.10 0.10%

The current 90-days correlation between SPDR MarketAxess Inv and SSGA Active Trust is 0.4 (i.e., Very weak diversification). The correlation of SPDR MarketAxess 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 MarketAxess Correlation With Market

Very good diversification

The correlation between SPDR MarketAxess Investment and DJI is -0.25 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding SPDR MarketAxess Investment and DJI in the same portfolio, assuming nothing else is changed.

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in SPDR MarketAxess Investment. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in gross domestic product.

Moving together with SPDR Etf

0.98	LQD	iShares iBoxx Investment	Pair Corr
0.98	IGIB	iShares 5 10	Pair Corr
0.98	USIG	iShares Broad USD	Pair Corr
0.98	SPIB	SPDR Barclays Interm	Pair Corr
0.98	SUSC	iShares ESG USD	Pair Corr
1.0	QLTA	iShares Aaa	Pair Corr
1.0	CORP	PIMCO Investment Grade	Pair Corr
1.0	FLCO	Franklin Liberty Inv	Pair Corr
0.98	GIGB	Goldman Sachs Access	Pair Corr
1.0	VTC	Vanguard Total Corporate	Pair Corr
0.97	BND	Vanguard Total Bond Sell-off Trend	Pair Corr
0.84	VTV	Vanguard Value Index Sell-off Trend	Pair Corr
0.78	VO	Vanguard Mid Cap	Pair Corr
0.88	JNJ	Johnson Johnson Fiscal Year End 28th of January 2025	Pair Corr
0.93	IBM	International Business Fiscal Year End 22nd of January 2025	Pair Corr
0.73	CSCO	Cisco Systems Aggressive Push	Pair Corr
0.74	VZ	Verizon Communications Fiscal Year End 28th of January 2025	Pair Corr
0.89	TRV	The Travelers Companies Fiscal Year End 17th of January 2025	Pair Corr
0.89	WMT	Walmart	Pair Corr
0.81	HD	Home Depot Sell-off Trend	Pair Corr
0.82	PG	Procter Gamble	Pair Corr
0.9	T	ATT Inc Fiscal Year End 22nd of January 2025	Pair Corr
0.92	KO	Coca Cola Fiscal Year End 11th of February 2025	Pair Corr
0.87	MMM	3M Company Fiscal Year End 28th of January 2025	Pair Corr

Moving against SPDR Etf

0.82	INTC	Intel Aggressive Push	Pair Corr
0.69	MRK	Merck Company Sell-off Trend	Pair Corr
0.59	DIS	Walt Disney Aggressive Push	Pair Corr
0.56	MSFT	Microsoft Aggressive Push	Pair Corr
0.33	BAC	Bank of America Aggressive Push	Pair Corr

Related Correlations Analysis

	MBNE	BILS	EMHC	HYBL	OBND
MBNE		0.96	0.94	0.88	0.97	MBNE
BILS	0.96		0.96	0.94	0.98	BILS
EMHC	0.94	0.96		0.96	0.98	EMHC
HYBL	0.88	0.94	0.96		0.95	HYBL
OBND	0.97	0.98	0.98	0.95		OBND
	MBNE	BILS	EMHC	HYBL	OBND

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SPDR MarketAxess Constituents Risk-Adjusted Indicators

There is a big difference between SPDR Etf performing well and SPDR MarketAxess 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 MarketAxess' 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
MBNE	0.10	0.03	(0.75)	(0.46)	0.00	(0.13)	0.27	(0.17)	0.94
BILS	0.01	0.01	0.00	(4.45)	0.00	0.00	0.06	0.00	0.11
EMHC	0.32	0.09	(0.07)	(1.23)	0.19	(0.36)	0.66	(0.63)	1.51
HYBL	0.13	0.04	(0.32)	3.54	0.00	(0.15)	0.32	(0.21)	1.15
OBND	0.17	0.05	(0.30)	0.89	0.00	(0.20)	0.43	(0.27)	0.93

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