Financial Select Correlations

XLF Etf

USD 53.01 0.00 0.00%

The current 90-days correlation between Financial Select Sector and iShares Micro Cap ETF is -0.04 (i.e., Good diversification). The correlation of Financial 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.

Financial Select Correlation With Market

Very poor diversification

The correlation between Financial Select Sector 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 Financial Select Sector and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Financial Etf

Check out Your Current Watchlist to better understand how to build diversified portfolios, which includes a position in Financial 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 industry.

Moving together with Financial Etf

0.94	VFH	Vanguard Financials Index	Pair Corr
0.77	KRE	SPDR SP Regional	Pair Corr
0.85	KBE	SPDR SP Bank	Pair Corr
0.97	IYF	iShares Financials ETF	Pair Corr
0.94	FNCL	Fidelity MSCI Financials	Pair Corr
0.99	IYG	iShares Financial	Pair Corr
0.86	FXO	First Trust Financials	Pair Corr
0.82	IAT	iShares Regional Banks	Pair Corr
0.95	IXG	iShares Global Financials	Pair Corr
0.64	JNUG	Direxion Daily Junior	Pair Corr
0.62	NUGT	Direxion Daily Gold	Pair Corr
0.82	LITL	Simplify Exchange Traded	Pair Corr
0.75	IWD	iShares Russell 1000	Pair Corr
0.68	MRK	Merck Company Earnings Call This Week	Pair Corr
0.83	BAC	Bank of America	Pair Corr
0.79	JPM	JPMorgan Chase	Pair Corr
0.64	DD	Dupont De Nemours	Pair Corr

Moving against Financial Etf

0.54	FNGO	MicroSectors FANG Index	Pair Corr
0.41	GBTC	Grayscale Bitcoin Trust	Pair Corr
0.62	PG	Procter Gamble	Pair Corr
0.47	HPQ	HP Inc	Pair Corr
0.32	MMM	3M Company	Pair Corr

Related Correlations Analysis

	HEZU	IAT	IHF	IEO	IYT	EWI	EWS	IGE	IXG	IWC
HEZU		0.8	0.34	0.21	0.86	0.86	0.6	0.87	0.87	0.84	HEZU
IAT	0.8		0.13	0.23	0.94	0.91	0.24	0.84	0.92	0.86	IAT
IHF	0.34	0.13		-0.15	0.2	0.1	0.5	0.23	0.14	0.43	IHF
IEO	0.21	0.23	-0.15		0.32	0.22	0.03	0.5	0.08	0.26	IEO
IYT	0.86	0.94	0.2	0.32		0.89	0.32	0.84	0.89	0.9	IYT
EWI	0.86	0.91	0.1	0.22	0.89		0.46	0.82	0.95	0.75	EWI
EWS	0.6	0.24	0.5	0.03	0.32	0.46		0.48	0.4	0.34	EWS
IGE	0.87	0.84	0.23	0.5	0.84	0.82	0.48		0.77	0.86	IGE
IXG	0.87	0.92	0.14	0.08	0.89	0.95	0.4	0.77		0.76	IXG
IWC	0.84	0.86	0.43	0.26	0.9	0.75	0.34	0.86	0.76		IWC
	HEZU	IAT	IHF	IEO	IYT	EWI	EWS	IGE	IXG	IWC

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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

IXG	+ 0.95	EWI
IYT	+ 0.94	IAT
IXG	+ 0.92	IAT
EWI	+ 0.91	IAT
IWC	+ 0.9	IYT
EWI	+ 0.89	IYT

High negative correlations

IEO

- 0.15

IHF

Financial Select Constituents Risk-Adjusted Indicators

There is a big difference between Financial Etf performing well and Financial 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 Financial 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
HEZU	0.55	0.07	0.01	1.31	0.67	(0.59)	1.28	(1.22)	4.61
IAT	0.87	0.16	0.15	0.23	0.75	(0.99)	2.42	(1.19)	5.68
IHF	0.83	(0.10)	0.00	(0.04)	0.00	0.00	2.08	(1.58)	4.33
IEO	1.19	0.11	0.04	0.46	1.33	(1.25)	2.64	(2.02)	7.00
IYT	0.82	0.02	0.03	0.09	0.87	(0.90)	2.43	(1.40)	5.07
EWI	0.67	0.08	0.08	0.17	0.60	(0.75)	1.32	(1.20)	3.54
EWS	0.61	0.01	(0.02)	0.09	0.78	(0.62)	1.51	(1.37)	3.78
IGE	0.81	0.24	0.20	0.54	0.69	(0.91)	1.58	(1.55)	3.89
IXG	0.56	0.07	0.02	0.53	0.67	(0.56)	1.22	(1.34)	3.52
IWC	1.09	0.05	0.04	0.11	1.40	(1.04)	2.13	(2.07)	5.08

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