Consumer Staples Correlations

XLP Etf

USD 83.51 1.38 1.68%

The current 90-days correlation between Consumer Staples Select and iShares Russell Mid Cap is 0.34 (i.e., Weak diversification). The correlation of Consumer Staples 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Consumer Staples Correlation With Market

Poor diversification

The correlation between Consumer Staples Select and DJI is 0.71 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Consumer Staples Select and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Consumer Etf

Check out Your Current Watchlist to better understand how to build diversified portfolios, which includes a position in Consumer Staples 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 Consumer Etf

1.0	VDC	Vanguard Consumer Staples	Pair Corr
0.82	IYK	iShares Consumer Staples	Pair Corr
0.99	KXI	iShares Global Consumer	Pair Corr
1.0	FSTA	Fidelity MSCI Consumer	Pair Corr
0.9	FTXG	First Trust Nasdaq	Pair Corr
0.94	RHS	Invesco SP 500	Pair Corr
0.82	FXG	First Trust Consumer	Pair Corr
0.96	PBJ	Invesco Dynamic Food	Pair Corr
0.8	PSL	Invesco DWA Consumer	Pair Corr
0.88	AGQ	ProShares Ultra Silver	Pair Corr
0.9	GDXU	MicroSectors Gold Miners	Pair Corr
0.89	JNUG	Direxion Daily Junior	Pair Corr
0.91	NUGT	Direxion Daily Gold	Pair Corr
0.69	FDRR	Fidelity Dividend ETF	Pair Corr
0.84	TAXT	Northern Trust Tax	Pair Corr
0.81	IGSB	iShares 1 5	Pair Corr
0.85	RFDI	First Trust RiverFront	Pair Corr
0.86	AVDE	Avantis International	Pair Corr
0.75	EEMX	SPDR MSCI Emerging	Pair Corr
0.78	VBK	Vanguard Small Cap	Pair Corr
0.69	BRNY	Burney Factor Rotation	Pair Corr
0.88	DISV	Dimensional ETF Trust	Pair Corr
0.84	JMUB	JPMorgan Municipal	Pair Corr
0.78	SCIO	First Trust Structured	Pair Corr
0.68	EUSB	iShares Trust	Pair Corr
0.84	GMUB	Goldman Sachs ETF	Pair Corr
0.81	CPSM	Calamos ETF Trust	Pair Corr
0.76	GJUN	First Trust Exchange	Pair Corr
0.72	FTCB	First Trust Exchange Sell-off Trend	Pair Corr
0.92	ALTY	Global X Alternative	Pair Corr
0.77	XISE	FT Cboe Vest	Pair Corr
0.61	VHT	Vanguard Health Care	Pair Corr

Moving against Consumer Etf

0.45	NVDL	GraniteShares 15x Long Aggressive Push	Pair Corr
0.4	BTF	Valkyrie Bitcoin Strategy	Pair Corr
0.42	GBTC	Grayscale Bitcoin Trust	Pair Corr

Related Correlations Analysis

	VONV	SPMD	IWS	DGRW	SPEM	VFH	ESGU	VHT	VHCIX	IWO
VONV		0.98	0.99	0.85	0.81	0.71	0.77	0.71	0.71	0.88	VONV
SPMD	0.98		0.99	0.83	0.8	0.7	0.8	0.66	0.66	0.94	SPMD
IWS	0.99	0.99		0.84	0.81	0.7	0.79	0.68	0.68	0.92	IWS
DGRW	0.85	0.83	0.84		0.79	0.67	0.84	0.45	0.45	0.82	DGRW
SPEM	0.81	0.8	0.81	0.79		0.38	0.7	0.32	0.31	0.79	SPEM
VFH	0.71	0.7	0.7	0.67	0.38		0.66	0.59	0.58	0.59	VFH
ESGU	0.77	0.8	0.79	0.84	0.7	0.66		0.34	0.34	0.85	ESGU
VHT	0.71	0.66	0.68	0.45	0.32	0.59	0.34		1.0	0.44	VHT
VHCIX	0.71	0.66	0.68	0.45	0.31	0.58	0.34	1.0		0.43	VHCIX
IWO	0.88	0.94	0.92	0.82	0.79	0.59	0.85	0.44	0.43		IWO
	VONV	SPMD	IWS	DGRW	SPEM	VFH	ESGU	VHT	VHCIX	IWO

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Consumer Staples Constituents Risk-Adjusted Indicators

There is a big difference between Consumer Etf performing well and Consumer Staples 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 Consumer Staples' 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
VONV	0.55	0.06	0.08	0.11	0.48	(0.61)	1.34	(1.05)	3.01
SPMD	0.71	0.02	0.02	0.06	0.77	(0.77)	1.80	(1.37)	3.78
IWS	0.63	0.03	0.04	0.07	0.67	(0.68)	1.58	(1.24)	3.47
DGRW	0.44	0.02	(0.01)	0.20	0.51	(0.45)	0.90	(0.94)	2.88
SPEM	0.55	0.03	0.02	0.09	0.62	(0.59)	1.25	(1.07)	2.92
VFH	0.68	0.02	(0.01)	0.20	0.92	(0.67)	1.40	(1.74)	4.47
ESGU	0.55	(0.02)	(0.03)	0.01	0.84	(0.49)	1.00	(1.25)	3.72
VHT	0.66	0.05	0.06	0.12	0.58	(0.81)	1.94	(1.10)	3.84
VHCIX	0.66	0.05	0.06	0.13	0.62	(0.81)	1.96	(1.13)	4.43
IWO	1.03	(0.03)	(0.01)	0.01	1.38	(0.99)	1.91	(2.14)	5.52

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