Select Sector Correlations

XLSI Etf

24.81 0.24 0.98%

The current 90-days correlation between Select Sector SPDR and ProShares UltraShort Consumer is -0.09 (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

Poor diversification

The correlation between Select Sector SPDR and DJI is 0.72 (i.e., 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 real.

Moving together with Select Etf

0.85	JEPI	JPMorgan Equity Premium	Pair Corr
0.78	XYLD	Global X SP	Pair Corr
0.8	RYLD	Global X Russell	Pair Corr
0.69	JEPQ	JPMorgan Nasdaq Equity	Pair Corr
0.65	NUSI	NEOS ETF Trust Symbol Change	Pair Corr
0.9	KNG	FT Cboe Vest	Pair Corr
0.76	BUYW	Main Buywrite ETF	Pair Corr
0.83	IDME	International Drawdown Low Volatility	Pair Corr
0.67	VTI	Vanguard Total Stock	Pair Corr
0.63	SPY	SPDR SP 500	Pair Corr
0.63	IVV	iShares Core SP	Pair Corr
0.86	VTV	Vanguard Value Index	Pair Corr
0.77	VO	Vanguard Mid Cap	Pair Corr
0.85	VEA	Vanguard FTSE Developed	Pair Corr
0.84	VB	Vanguard Small Cap	Pair Corr
0.7	VWO	Vanguard FTSE Emerging	Pair Corr
0.78	AA	Alcoa Corp	Pair Corr
0.74	INTC	Intel Aggressive Push	Pair Corr
0.63	PFE	Pfizer Inc Earnings Call This Week	Pair Corr
0.72	CAT	Caterpillar	Pair Corr
0.85	XOM	Exxon Mobil Corp Aggressive Push	Pair Corr
0.86	WMT	Walmart Common Stock Aggressive Push	Pair Corr
0.81	BA	Boeing Sell-off Trend	Pair Corr

Moving against Select Etf

0.62	MSFT	Microsoft	Pair Corr
0.61	T	ATT Inc Earnings Call This Week	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.31	0.06	0.06	-0.07	-0.27	0.34	-0.03	-0.05	0.04	META
MSFT	0.31		0.75	-0.47	0.48	0.32	0.39	-0.1	-0.81	-0.68	MSFT
UBER	0.06	0.75		-0.45	0.47	0.51	0.07	-0.23	-0.8	-0.52	UBER
F	0.06	-0.47	-0.45		-0.59	-0.33	0.02	0.46	0.64	0.6	F
T	-0.07	0.48	0.47	-0.59		0.61	-0.09	-0.25	-0.46	-0.64	T
A	-0.27	0.32	0.51	-0.33	0.61		-0.13	-0.12	-0.32	-0.52	A
CRM	0.34	0.39	0.07	0.02	-0.09	-0.13		0.62	-0.13	-0.45	CRM
JPM	-0.03	-0.1	-0.23	0.46	-0.25	-0.12	0.62		0.35	-0.05	JPM
MRK	-0.05	-0.81	-0.8	0.64	-0.46	-0.32	-0.13	0.35		0.68	MRK
XOM	0.04	-0.68	-0.52	0.6	-0.64	-0.52	-0.45	-0.05	0.68		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

UBER	+ 0.75	MSFT
XOM	+ 0.68	MRK
MRK	+ 0.64	F
JPM	+ 0.62	CRM
A	+ 0.61	T
XOM	+ 0.6	F

High negative correlations

MRK	- 0.81	MSFT
MRK	- 0.8	UBER
XOM	- 0.68	MSFT
XOM	- 0.64	T
T	- 0.59	F
XOM	- 0.52	A

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	1.60	(0.03)	(0.01)	0.02	2.40	(1.68)	3.43	(2.67)	13.02
MSFT	1.24	(0.29)	0.00	(1.12)	0.00	0.00	1.85	(2.70)	4.90
UBER	1.47	(0.24)	0.00	(0.26)	0.00	0.00	2.50	(3.82)	10.23
F	1.47	0.18	0.10	0.52	1.32	(1.82)	3.65	(2.35)	16.30
T	0.88	(0.03)	0.00	(0.14)	0.00	0.00	1.63	(1.85)	4.30
A	1.19	(0.22)	0.00	(0.12)	0.00	0.00	2.90	(2.58)	7.85
CRM	1.53	(0.30)	0.00	(0.24)	0.00	0.00	2.94	(4.26)	12.37
JPM	1.11	0.04	(0.01)	(0.50)	1.66	(1.09)	2.00	(3.11)	7.38
MRK	1.26	0.30	0.21	0.47	1.14	(1.53)	3.59	(1.98)	8.09
XOM	1.06	0.24	0.18	0.45	0.96	(1.23)	2.38	(1.51)	5.82

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