SSGA SP Correlations

The correlation of SSGA SP is a statistical measure of how it moves in relation to other equities. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as SSGA SP moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if SSGA SP 500 moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Additionally, take a look at World Market Map.
  
The ability to find closely correlated positions to SSGA 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 SSGA 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 SSGA 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 SSGA SP 500 to buy it.

Related Correlations

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Correlation Matchups

The Correlation Coefficient is a useful tool to identify correlated or non-correlated securities, which is essential in developing a diversified portfolio. It tells us the relationship between two positions you have in your portfolio or considering acquiring. Over a given time period, the two securities movetogether 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   
JPMT
JPMA
MRKJPM
XOMJPM
XOMMRK
AT
  
High negative correlations   
MRKUBER
XOMMSFT
CRMTWTR
MRKMSFT
XOMUBER
MRKCRM

SSGA SP Competition Risk-Adjusted Indicators

Nowadays, there is a big difference between SVSPX Mutual Fund performing well and SSGA SP Mutual Fund doing well compared to the competition. There are way too many exceptions to the normal that investors can tell for sure what's good or bad unless they analyze SSGA SP's multiple risk-adjusted performance indicators. 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
Information
Ratio
Expected
Shortfall
Potential
Upside
Value
At Risk
Maximum
Drawdown
TWTR 1.73  0.52  0.18 (1.34)  1.73  0.12 (1.84)  3.56 (2.97)  27.10 
MSFT 1.82 (0.13)  0.00 (0.03)  0.00 (0.0412)  0.00  3.92 (3.54)  11.64 
UBER 2.88 (0.11) (0.02)  0.00  3.27 (0.0182) (3.53)  8.60 (5.58)  19.67 
F 2.01 (0.23)  0.00 (0.09)  0.00 (0.07)  0.00  2.75 (5.14)  14.93 
T 1.28  0.08  0.05  0.18  1.23  0.0367 (1.46)  2.54 (2.11)  9.29 
A 1.74  0.18  0.11  0.21  1.66  0.09 (2.13)  3.98 (2.97)  11.04 
CRM 2.41 (0.27)  0.00 (0.11)  0.00 (0.08)  0.00  4.31 (4.55)  18.29 
JPM 1.54  0.15  0.10  0.21  1.40  0.08 (1.67)  4.20 (2.80)  7.57 
MRK 0.98  0.34  0.24  1.17  0.80  0.23 (1.18)  2.44 (1.43)  7.38 
XOM 1.59  0.15  0.07  0.24  1.81  0.07 (1.68)  3.65 (2.91)  9.75 

SSGA SP Related Equities

One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with SSGA SP mutual fund to make a market-neutral strategy. Peer analysis of SSGA SP could also be used in its relative valuation, which is a method of valuing SSGA SP by comparing valuation metrics with similar companies.
American AirlinesAlcoa CorpApple IncBest BuyCitigroupSentinelOneCVS Health CorpChevron CorpHome DepotInternational BusinessIntelMetLifeATT IncTargetUnited Parcel Service
 Risk & Return  Correlation

Invested in SSGA SP 500?

The danger of trading SSGA SP 500 is mainly related to its market volatility and Mutual Fund specific events. As an investor, you must understand the concept of risk-adjusted return before you start trading. The most common way to measure the risk of SSGA SP is by using the Sharpe ratio. The ratio expresses how much excess return you acquire for the extra volatility you endure for holding a more risker asset than SSGA SP. The Shape ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile SSGA SP 500 is, you must compare it to a benchmark. Traditionally, the risk-free rate of return is the rate of return on the shortest-dated U.S. Treasury, such as a 3-year bond.
Additionally, take a look at World Market Map. You can also try Price Exposure Probability module to analyze equity upside and downside potential for a given time horizon across multiple markets.

Other Tools for SVSPX Mutual Fund

When running SSGA SP 500 price analysis, check to measure SSGA SP's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy SSGA SP is operating at the current time. Most of SSGA SP's value examination focuses on studying past and present price action to predict the probability of SSGA SP's future price movements. You can analyze the entity against its peers and financial market as a whole to determine factors that move SSGA SP's price. Additionally, you may evaluate how the addition of SSGA SP to your portfolios can decrease your overall portfolio volatility.
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