Select Sector Correlations

XLCI Etf

24.76 0.07 0.28%

The current 90-days correlation between Select Sector SPDR and EA Series Trust is -0.15 (i.e., Good diversification). The correlation of Select Sector 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.

Select Sector Correlation With Market

Very poor diversification

The correlation between Select Sector SPDR and DJI is 0.87 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Select Sector SPDR and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Select Etf

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

Moving together with Select Etf

0.82	JEPI	JPMorgan Equity Premium	Pair Corr
0.91	XYLD	Global X SP	Pair Corr
0.63	DIVO	Amplify CWP Enhanced	Pair Corr
0.84	RYLD	Global X Russell	Pair Corr
0.85	JEPQ	JPMorgan Nasdaq Equity	Pair Corr
0.73	KNG	FT Cboe Vest	Pair Corr
0.9	BUYW	Main Buywrite ETF	Pair Corr
0.79	IDME	International Drawdown	Pair Corr
0.75	MUU	Direxion Daily MU Trending	Pair Corr
0.75	MULL	GraniteShares 2x Long Trending	Pair Corr
0.66	KORU	Direxion Daily South	Pair Corr
0.68	GDXU	MicroSectors Gold Miners	Pair Corr
0.74	JNUG	Direxion Daily Junior	Pair Corr
0.73	NUGT	Direxion Daily Gold	Pair Corr
0.67	SHNY	Microsectors Gold	Pair Corr
0.93	UMAY	Innovator ETFs Trust	Pair Corr
0.76	TAXT	Northern Trust Tax	Pair Corr
0.64	SCDV	ETF Series Solutions	Pair Corr
0.71	QLV	FlexShares Quality Low	Pair Corr
0.75	FIDU	Fidelity MSCI Industrials	Pair Corr
0.9	IQSZ	Invesco Actively Managed	Pair Corr
0.64	NCPB	Nuveen Core Plus	Pair Corr
0.76	BSMS	Invesco BulletShares 2028	Pair Corr
0.82	FXC	Invesco CurrencyShares	Pair Corr
0.72	EWT	iShares MSCI Taiwan	Pair Corr
0.93	SIXJ	AIM ETF Products	Pair Corr
0.81	WDNA	WisdomTree BioRevolution Low Volatility	Pair Corr
0.85	WLDR	Affinity World Leaders	Pair Corr
0.7	EMES	Harbor ETF Trust	Pair Corr
0.76	DFSD	Dimensional ETF Trust	Pair Corr
0.83	IRTR	iShares Trust	Pair Corr
0.83	TLCI	Touchstone ETF Trust	Pair Corr
0.77	CCNR	CoreCommodity Natural	Pair Corr
0.85	EURL	Direxion Daily FTSE	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		-0.35	-0.4	0.4	0.13	-0.47	-0.07	0.34	0.42	0.38	META
MSFT	-0.35		0.82	-0.57	-0.71	0.74	0.85	0.07	-0.87	-0.92	MSFT
UBER	-0.4	0.82		-0.51	-0.57	0.81	0.6	-0.07	-0.8	-0.77	UBER
F	0.4	-0.57	-0.51		0.17	-0.46	-0.31	0.28	0.72	0.63	F
T	0.13	-0.71	-0.57	0.17		-0.47	-0.78	-0.15	0.5	0.63	T
A	-0.47	0.74	0.81	-0.46	-0.47		0.54	-0.01	-0.66	-0.8	A
CRM	-0.07	0.85	0.6	-0.31	-0.78	0.54		0.44	-0.64	-0.83	CRM
JPM	0.34	0.07	-0.07	0.28	-0.15	-0.01	0.44		0.2	-0.1	JPM
MRK	0.42	-0.87	-0.8	0.72	0.5	-0.66	-0.64	0.2		0.86	MRK
XOM	0.38	-0.92	-0.77	0.63	0.63	-0.8	-0.83	-0.1	0.86		XOM
	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM

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Correlation Matchups

Over a given time period, the two securities move together 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

XOM	+ 0.86	MRK
CRM	+ 0.85	MSFT
UBER	+ 0.82	MSFT
A	+ 0.81	UBER
A	+ 0.74	MSFT
MRK	+ 0.72	F

High negative correlations

XOM	- 0.92	MSFT
MRK	- 0.87	MSFT
XOM	- 0.83	CRM
XOM	- 0.8	A
MRK	- 0.8	UBER
CRM	- 0.78	T

Select Sector Competition Risk-Adjusted Indicators

There is a big difference between Select Etf performing well and Select Sector 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 Select Sector'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
META	1.47	0.07	0.04	0.14	1.43	(1.78)	3.43	(2.60)	13.69
MSFT	1.33	(0.37)	0.00	(1.03)	0.00	0.00	1.90	(2.74)	13.28
UBER	1.55	(0.39)	0.00	(0.71)	0.00	0.00	2.46	(3.82)	11.09
F	1.21	0.03	0.02	0.07	1.25	(1.45)	3.34	(2.30)	7.16
T	1.01	0.14	0.10	(18.48)	0.95	(1.16)	3.87	(1.76)	5.31
A	1.27	(0.31)	0.00	(0.20)	0.00	0.00	2.90	(2.73)	7.85
CRM	1.72	(0.42)	0.00	(0.40)	0.00	0.00	2.94	(4.75)	12.37
JPM	1.26	(0.10)	0.00	(0.03)	0.00	0.00	2.34	(3.11)	7.38
MRK	1.29	0.43	0.31	0.77	0.98	(1.58)	2.93	(1.98)	8.74
XOM	1.27	0.39	0.25	1.59	1.08	(1.47)	2.90	(2.12)	6.83

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