Utilities Select Correlations

XLU Etf

USD 46.96 0.41 0.87%

The current 90-days correlation between Utilities Select Sector and iShares Russell Mid Cap is 0.1 (i.e., Average 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

Modest diversification

The correlation between Utilities Select Sector and DJI is 0.23 (i.e., Modest 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 board of governors.

Moving together with Utilities Etf

1.0	VPU	Vanguard Utilities Index	Pair Corr
1.0	FUTY	Fidelity MSCI Utilities	Pair Corr
1.0	IDU	iShares Utilities ETF	Pair Corr
0.96	FXU	First Trust Utilities	Pair Corr
0.93	JXI	iShares Global Utilities	Pair Corr
0.94	PUI	Invesco DWA Utilities	Pair Corr
0.85	UTES	Virtus Reaves Utilities	Pair Corr
0.69	SNPD	DBX ETF Trust	Pair Corr
0.82	DOGG	First Trust Exchange	Pair Corr
0.72	VFMV	Vanguard Minimum Vol	Pair Corr
0.91	AGG	iShares Core Aggregate	Pair Corr
0.69	WEEI	Westwood Salient Enhanced	Pair Corr
0.63	ASIA	Matthews International	Pair Corr
0.64	FEM	First Trust Emerging	Pair Corr
0.66	MNZL	Manzil Russell Halal	Pair Corr
0.71	PID	Invesco International	Pair Corr
0.64	SMB	VanEck Short Muni	Pair Corr
0.89	IYR	iShares Real Estate	Pair Corr
0.86	FOPC	Advisors Inner	Pair Corr

Moving against Utilities Etf

0.52	SWIN	Alps Symbol Change	Pair Corr
0.41	CRCO	Tidal Trust II Trending	Pair Corr

Related Correlations Analysis

	FNDX	VEXPX	EEM	SDY	IWP	GDX	VOOG	IDEV	EWJ	ACWI
FNDX		0.82	0.96	0.97	-0.38	0.87	-0.43	0.98	0.95	0.95	FNDX
VEXPX	0.82		0.81	0.72	0.15	0.84	-0.03	0.79	0.71	0.87	VEXPX
EEM	0.96	0.81		0.94	-0.36	0.93	-0.38	0.98	0.94	0.96	EEM
SDY	0.97	0.72	0.94		-0.53	0.86	-0.6	0.96	0.97	0.87	SDY
IWP	-0.38	0.15	-0.36	-0.53		-0.2	0.78	-0.37	-0.47	-0.16	IWP
GDX	0.87	0.84	0.93	0.86	-0.2		-0.31	0.92	0.83	0.91	GDX
VOOG	-0.43	-0.03	-0.38	-0.6	0.78	-0.31		-0.41	-0.55	-0.16	VOOG
IDEV	0.98	0.79	0.98	0.96	-0.37	0.92	-0.41		0.96	0.96	IDEV
EWJ	0.95	0.71	0.94	0.97	-0.47	0.83	-0.55	0.96		0.88	EWJ
ACWI	0.95	0.87	0.96	0.87	-0.16	0.91	-0.16	0.96	0.88		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	+ 0.98	FNDX
IDEV	+ 0.98	EEM
SDY	+ 0.97	FNDX
EWJ	+ 0.97	SDY
EEM	+ 0.96	FNDX
ACWI	+ 0.96	EEM

High negative correlations

VOOG	- 0.6	SDY
EWJ	- 0.55	VOOG
IWP	- 0.53	SDY
EWJ	- 0.47	IWP
VOOG	- 0.43	FNDX
IDEV	- 0.41	VOOG

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	0.49	0.08	0.10	0.18	0.34	(0.55)	1.26	(0.87)	3.15
VEXPX	0.76	0.04	0.05	0.11	0.78	(0.81)	1.43	(1.42)	5.31
EEM	0.74	0.17	0.17	0.33	0.58	(0.84)	1.98	(1.18)	5.01
SDY	0.49	0.16	0.25	0.42	0.00	(0.63)	1.20	(0.80)	2.46
IWP	0.80	(0.06)	(0.05)	0.02	1.01	(0.81)	1.58	(1.76)	5.81
GDX	2.16	0.58	0.15	0.66	3.03	(2.27)	5.35	(5.96)	18.46
VOOG	0.71	(0.08)	0.00	(0.03)	0.00	0.00	1.18	(1.77)	4.28
IDEV	0.55	0.15	0.15	0.29	0.49	(0.61)	1.22	(1.33)	3.19
EWJ	0.76	0.15	0.14	0.27	0.64	(0.88)	2.11	(1.59)	5.94
ACWI	0.52	0.04	0.03	0.13	0.55	(0.56)	0.90	(1.02)	3.54

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