Energy Select Correlations

XLE Etf

USD 45.65 0.94 2.10%

The current 90-days correlation between Energy Select Sector and iShares Select Dividend is 0.56 (i.e., Very weak diversification). The correlation of Energy Select 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.

Energy Select Correlation With Market

Modest diversification

The correlation between Energy Select Sector and DJI is 0.29 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Energy Select Sector and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Energy Etf

Check out Your Current Watchlist to better understand how to build diversified portfolios, which includes a position in Energy Select Sector. 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 Energy Etf

1.0	VDE	Vanguard Energy Index	Pair Corr
0.8	XOP	SPDR SP Oil	Pair Corr
0.8	OIH	VanEck Oil Services	Pair Corr
1.0	IYE	iShares Energy ETF	Pair Corr
0.98	IXC	iShares Global Energy	Pair Corr
0.95	FXN	First Trust Energy	Pair Corr
1.0	FENY	Fidelity MSCI Energy	Pair Corr
0.94	FTXN	First Trust Nasdaq	Pair Corr
0.88	IEO	iShares Oil Gas Low Volatility	Pair Corr
0.79	XOM	Exxon Mobil Corp Aggressive Push	Pair Corr
0.7	DD	Dupont De Nemours	Pair Corr
0.62	PFE	Pfizer Inc Sell-off Trend	Pair Corr

Moving against Energy Etf

0.52	GBTC	Grayscale Bitcoin Trust	Pair Corr
0.55	HPQ	HP Inc	Pair Corr
0.52	MSFT	Microsoft Sell-off Trend	Pair Corr
0.5	PG	Procter Gamble	Pair Corr

Related Correlations Analysis

	XLC	EFV	VTCIX	DVY	IUSG	XLI	VFTNX	VFTAX	SPYV	SPDW
XLC		0.54	0.65	0.79	0.55	0.82	0.6	0.61	0.64	0.7	XLC
EFV	0.54		0.76	0.75	0.55	0.69	0.65	0.65	0.93	0.94	EFV
VTCIX	0.65	0.76		0.64	0.94	0.81	0.98	0.98	0.91	0.86	VTCIX
DVY	0.79	0.75	0.64		0.41	0.76	0.52	0.52	0.8	0.78	DVY
IUSG	0.55	0.55	0.94	0.41		0.72	0.98	0.98	0.73	0.69	IUSG
XLI	0.82	0.69	0.81	0.76	0.72		0.77	0.78	0.78	0.86	XLI
VFTNX	0.6	0.65	0.98	0.52	0.98	0.77		1.0	0.83	0.78	VFTNX
VFTAX	0.61	0.65	0.98	0.52	0.98	0.78	1.0		0.83	0.78	VFTAX
SPYV	0.64	0.93	0.91	0.8	0.73	0.78	0.83	0.83		0.93	SPYV
SPDW	0.7	0.94	0.86	0.78	0.69	0.86	0.78	0.78	0.93		SPDW
	XLC	EFV	VTCIX	DVY	IUSG	XLI	VFTNX	VFTAX	SPYV	SPDW

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Energy Select Constituents Risk-Adjusted Indicators

There is a big difference between Energy Etf performing well and Energy Select 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 Energy Select'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
XLC	0.61	(0.06)	0.00	(0.03)	0.00	0.00	1.14	(1.41)	3.08
EFV	0.52	0.08	0.09	0.17	0.49	(0.55)	1.13	(1.11)	2.57
VTCIX	0.58	(0.01)	(0.02)	0.04	0.85	(0.55)	1.19	(1.18)	3.31
DVY	0.55	(0.03)	(0.06)	0.02	0.66	(0.58)	1.10	(0.91)	2.82
IUSG	0.75	(0.03)	(0.02)	0.03	1.10	(0.72)	1.45	(1.79)	4.45
XLI	0.69	(0.02)	(0.02)	0.04	0.89	(0.66)	1.25	(1.55)	3.45
VFTNX	0.62	(0.02)	(0.03)	0.03	0.94	(0.61)	1.45	(1.38)	3.57
VFTAX	0.63	(0.02)	(0.03)	0.03	0.95	(0.60)	1.46	(1.35)	3.52
SPYV	0.50	0.00	(0.02)	0.06	0.58	(0.53)	1.00	(1.03)	2.57
SPDW	0.56	0.05	0.05	0.12	0.69	(0.58)	1.17	(1.21)	2.90

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