Financial Select Correlations

XLF Etf

USD 51.65 0.04 0.08%

The current 90-days correlation between Financial Select Sector and iShares Russell Mid Cap is 0.75 (i.e., Poor 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 weak diversification

The correlation between Financial Select Sector and DJI is 0.54 (i.e., Very weak 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 board of governors.

Moving together with Financial Etf

0.99	VFH	Vanguard Financials Index	Pair Corr
0.97	IYF	iShares Financials ETF	Pair Corr
0.99	FNCL	Fidelity MSCI Financials	Pair Corr
0.99	IYG	iShares Financial	Pair Corr
0.71	FXO	First Trust Financials	Pair Corr
0.71	IXG	iShares Global Financials	Pair Corr

Moving against Financial Etf

0.69

XLU

Utilities Select Sector Aggressive Push

Pair Corr

Related Correlations Analysis

	SPYG	IWR	IWB	VDIGX	IXUS	IVE	SCHF	VONG	DIA	XLV
SPYG		0.35	0.74	0.45	0.16	0.25	0.16	0.83	0.37	0.19	SPYG
IWR	0.35		0.87	0.9	0.93	0.97	0.94	-0.17	0.97	0.63	IWR
IWB	0.74	0.87		0.88	0.73	0.83	0.74	0.3	0.89	0.52	IWB
VDIGX	0.45	0.9	0.88		0.76	0.9	0.79	-0.01	0.92	0.75	VDIGX
IXUS	0.16	0.93	0.73	0.76		0.94	1.0	-0.38	0.9	0.54	IXUS
IVE	0.25	0.97	0.83	0.9	0.94		0.96	-0.26	0.97	0.61	IVE
SCHF	0.16	0.94	0.74	0.79	1.0	0.96		-0.39	0.92	0.55	SCHF
VONG	0.83	-0.17	0.3	-0.01	-0.38	-0.26	-0.39		-0.12	-0.15	VONG
DIA	0.37	0.97	0.89	0.92	0.9	0.97	0.92	-0.12		0.62	DIA
XLV	0.19	0.63	0.52	0.75	0.54	0.61	0.55	-0.15	0.62		XLV
	SPYG	IWR	IWB	VDIGX	IXUS	IVE	SCHF	VONG	DIA	XLV

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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

SCHF	+ 1.0	IXUS
IVE	+ 0.97	IWR
DIA	+ 0.97	IWR
DIA	+ 0.97	IVE
SCHF	+ 0.96	IVE
SCHF	+ 0.94	IWR

High negative correlations

VONG	- 0.39	SCHF
VONG	- 0.38	IXUS
VONG	- 0.26	IVE
VONG	- 0.17	IWR
XLV	- 0.15	VONG
DIA	- 0.12	VONG

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
SPYG	0.75	(0.11)	0.00	(0.09)	0.00	0.00	1.22	(1.77)	5.81
IWR	0.65	0.03	0.03	0.09	0.75	(0.68)	1.61	(1.54)	4.18
IWB	0.56	(0.05)	(0.07)	0.00	0.79	(0.55)	1.06	(1.57)	3.61
VDIGX	0.50	0.01	(0.01)	0.08	0.49	(0.55)	1.12	(0.84)	3.27
IXUS	0.59	0.12	0.12	0.23	0.58	(0.62)	1.33	(1.23)	3.30
IVE	0.52	0.03	0.03	0.10	0.52	(0.58)	1.05	(1.06)	3.06
SCHF	0.62	0.14	0.15	0.25	0.61	(0.66)	1.46	(1.29)	3.11
VONG	0.72	(0.16)	0.00	(0.15)	0.00	0.00	1.26	(1.99)	4.63
DIA	0.63	0.01	0.01	0.07	0.69	(0.63)	1.27	(1.18)	3.81
XLV	0.75	0.06	0.06	0.16	0.59	(0.94)	1.97	(1.19)	3.98

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