Communication Services Correlations

XLC Etf

USD 120.08 0.29 0.24%

The current 90-days correlation between Communication Services and iShares SP 100 is -0.05 (i.e., Good diversification). The correlation of Communication Services 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.

Communication Services Correlation With Market

Very poor diversification

The correlation between Communication Services Select and DJI is 0.81 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Communication Services Select and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Communication Etf

Check out Your Current Watchlist to better understand how to build diversified portfolios, which includes a position in Communication Services Select. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in board of governors.

Moving together with Communication Etf

0.97	VOX	Vanguard Communication	Pair Corr
0.92	FCOM	Fidelity MSCI Commun	Pair Corr
0.89	IYZ	IShares Telecommunicatio Low Volatility	Pair Corr
0.86	IXP	iShares Global Comm	Pair Corr
0.77	VTI	Vanguard Total Stock	Pair Corr
0.86	SPY	SPDR SP 500	Pair Corr
0.86	IVV	iShares Core SP	Pair Corr
0.62	BND	Vanguard Total Bond Sell-off Trend	Pair Corr
0.76	TOT	Advisor Managed Port	Pair Corr
0.76	VTV	Vanguard Value Index	Pair Corr
0.74	VO	Vanguard Mid Cap	Pair Corr
0.92	FDRR	Fidelity Dividend ETF	Pair Corr
0.79	FB	ProShares Trust ProShares	Pair Corr
0.89	HLAL	Wahed FTSE USA	Pair Corr
0.87	DMAY	First Trust Exchange	Pair Corr
0.62	AGQ	ProShares Ultra Silver	Pair Corr
0.69	EUSB	iShares Trust	Pair Corr
0.75	DISV	Dimensional ETF Trust	Pair Corr
0.84	GAPR	First Trust Exchange	Pair Corr
0.7	TAXT	Northern Trust Tax	Pair Corr
0.73	FLXR	TCW ETF Trust	Pair Corr
0.63	GDXU	MicroSectors Gold Miners	Pair Corr
0.83	XISE	FT Cboe Vest	Pair Corr
0.77	FNX	First Trust Mid	Pair Corr

Moving against Communication Etf

0.46	ESPO	VanEck Video Gaming	Pair Corr
0.38	IRE	Tidal Trust II	Pair Corr
0.31	HERO	Global X Video	Pair Corr
0.31	GAMR	Amplify Video Game	Pair Corr

Related Correlations Analysis

	XLE	EFV	VTCIX	XLI	IUSG	VFTNX	VFTAX	DVY	XLY	OEF
XLE		0.83	0.58	0.82	0.3	0.3	0.3	0.88	0.4	0.17	XLE
EFV	0.83		0.8	0.91	0.49	0.55	0.55	0.96	0.72	0.39	EFV
VTCIX	0.58	0.8		0.83	0.89	0.93	0.93	0.77	0.88	0.69	VTCIX
XLI	0.82	0.91	0.83		0.58	0.61	0.61	0.94	0.77	0.42	XLI
IUSG	0.3	0.49	0.89	0.58		0.98	0.98	0.46	0.76	0.75	IUSG
VFTNX	0.3	0.55	0.93	0.61	0.98		1.0	0.5	0.82	0.78	VFTNX
VFTAX	0.3	0.55	0.93	0.61	0.98	1.0		0.51	0.83	0.77	VFTAX
DVY	0.88	0.96	0.77	0.94	0.46	0.5	0.51		0.68	0.29	DVY
XLY	0.4	0.72	0.88	0.77	0.76	0.82	0.83	0.68		0.6	XLY
OEF	0.17	0.39	0.69	0.42	0.75	0.78	0.77	0.29	0.6		OEF
	XLE	EFV	VTCIX	XLI	IUSG	VFTNX	VFTAX	DVY	XLY	OEF

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Communication Services Constituents Risk-Adjusted Indicators

There is a big difference between Communication Etf performing well and Communication Services 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 Communication Services' 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
XLE	0.99	0.22	0.16	0.84	1.03	(1.06)	2.26	(1.44)	5.38
EFV	0.57	0.14	0.18	0.25	0.44	(0.64)	1.35	(1.11)	3.04
VTCIX	0.54	(0.02)	(0.03)	0.01	0.76	(0.54)	1.03	(1.18)	3.57
XLI	0.71	0.06	0.06	0.09	0.83	(0.72)	1.36	(1.62)	3.86
IUSG	0.70	(0.04)	(0.04)	(0.01)	1.11	(0.61)	1.22	(1.79)	4.63
VFTNX	0.57	(0.04)	0.00	(0.02)	0.00	0.00	1.03	(1.38)	3.94
VFTAX	0.57	(0.04)	0.00	(0.02)	0.00	0.00	1.04	(1.35)	3.94
DVY	0.58	0.07	0.09	0.13	0.52	(0.64)	1.42	(0.87)	3.53
XLY	0.89	(0.03)	(0.02)	0.01	1.17	(0.91)	1.91	(2.26)	5.25
OEF	0.56	0.01	(0.02)	0.19	0.83	(0.52)	1.03	(1.32)	4.23

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