Utilities Select Correlations

XLU Etf

USD 43.35 0.25 0.58%

The current 90-days correlation between Utilities Select Sector and iShares Russell Mid Cap is 0.27 (i.e., Modest diversification). The correlation of Utilities 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Utilities Select Correlation With Market

Excellent diversification

The correlation between Utilities Select Sector and DJI is -0.59 (i.e., Excellent diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Utilities Select Sector and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Utilities Etf

Check out Your Current Watchlist to better understand how to build diversified portfolios, which includes a position in Utilities 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 metropolitan statistical area.

Moving together with Utilities Etf

1.0	VPU	Vanguard Utilities Index	Pair Corr
1.0	FUTY	Fidelity MSCI Utilities	Pair Corr
0.98	IDU	iShares Utilities ETF	Pair Corr
0.7	FXU	First Trust Utilities	Pair Corr
0.85	PUI	Invesco DWA Utilities	Pair Corr
0.78	UTES	Virtus Reaves Utilities	Pair Corr

Moving against Utilities Etf

0.79	AMPS	Blackrock	Pair Corr
0.67	OASC	OneAscent Small Cap	Pair Corr
0.53	VBK	Vanguard Small Cap	Pair Corr
0.52	JNUG	Direxion Daily Junior	Pair Corr
0.48	NUGT	Direxion Daily Gold	Pair Corr
0.47	GGLL	Direxion Daily GOOGL Downward Rally	Pair Corr
0.43	FBL	GraniteShares 15x Long	Pair Corr
0.41	AGQ	ProShares Ultra Silver	Pair Corr
0.36	RDIV	Invesco SP Ultra	Pair Corr
0.65	AA	Alcoa Corp	Pair Corr
0.64	AHYB	American Century ETF	Pair Corr
0.59	WMT	Walmart Common Stock Aggressive Push	Pair Corr
0.54	BA	Boeing	Pair Corr
0.52	BINC	BlackRock ETF Trust	Pair Corr
0.52	MRK	Merck Company Aggressive Push	Pair Corr
0.5	DD	Dupont De Nemours Earnings Call Today	Pair Corr
0.44	MCD	McDonalds Earnings Call This Week	Pair Corr
0.41	DIS	Walt Disney	Pair Corr
0.38	CAT	Caterpillar	Pair Corr

Related Correlations Analysis

	FNDX	VEXPX	EEM	SDY	IWP	GDX	VOOG	IDEV	EWJ	ACWI
FNDX		0.92	0.87	0.95	0.19	0.9	0.37	0.97	0.94	0.94	FNDX
VEXPX	0.92		0.8	0.81	0.5	0.89	0.57	0.89	0.84	0.92	VEXPX
EEM	0.87	0.8		0.88	0.16	0.85	0.34	0.92	0.94	0.91	EEM
SDY	0.95	0.81	0.88		-0.04	0.86	0.13	0.93	0.94	0.84	SDY
IWP	0.19	0.5	0.16	-0.04		0.23	0.81	0.21	0.16	0.41	IWP
GDX	0.9	0.89	0.85	0.86	0.23		0.36	0.93	0.83	0.88	GDX
VOOG	0.37	0.57	0.34	0.13	0.81	0.36		0.4	0.3	0.61	VOOG
IDEV	0.97	0.89	0.92	0.93	0.21	0.93	0.4		0.95	0.97	IDEV
EWJ	0.94	0.84	0.94	0.94	0.16	0.83	0.3	0.95		0.92	EWJ
ACWI	0.94	0.92	0.91	0.84	0.41	0.88	0.61	0.97	0.92		ACWI
	FNDX	VEXPX	EEM	SDY	IWP	GDX	VOOG	IDEV	EWJ	ACWI

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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

IDEV	+ 0.97	FNDX
ACWI	+ 0.97	IDEV
SDY	+ 0.95	FNDX
EWJ	+ 0.95	IDEV
EWJ	+ 0.94	FNDX
ACWI	+ 0.94	FNDX

High negative correlations

IWP

- 0.04

SDY

Utilities Select Constituents Risk-Adjusted Indicators

There is a big difference between Utilities Etf performing well and Utilities 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 Utilities 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
FNDX	0.55	0.08	0.10	0.18	0.41	(0.61)	1.36	(1.08)	2.98
VEXPX	0.82	0.00	0.01	0.08	0.87	(0.84)	1.64	(1.61)	4.15
EEM	0.72	0.08	0.06	0.20	0.69	(0.77)	1.77	(1.34)	5.01
SDY	0.53	0.14	0.21	0.36	0.12	(0.67)	1.24	(0.80)	2.84
IWP	0.83	(0.16)	0.00	(0.06)	0.00	0.00	1.41	(2.01)	4.02
GDX	2.14	0.41	0.12	0.37	2.97	(2.25)	4.82	(4.48)	18.62
VOOG	0.78	(0.12)	0.00	(0.07)	0.00	0.00	1.32	(1.80)	4.86
IDEV	0.62	0.09	0.08	0.19	0.65	(0.65)	1.22	(1.33)	3.05
EWJ	0.75	0.08	0.07	0.17	0.76	(0.82)	2.11	(1.59)	4.27
ACWI	0.58	(0.01)	(0.03)	0.07	0.75	(0.58)	1.11	(1.28)	3.29

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