Select Sector Correlations

XLUI Etf

24.38 0.10 0.41%

The current 90-days correlation between Select Sector SPDR and Morningstar Unconstrained Allocation is -0.04 (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

Weak diversification

The correlation between Select Sector SPDR and DJI is 0.35 (i.e., Weak 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 manufacturing.

Moving together with Select Etf

0.65	VXX	iPath Series B Sell-off Trend	Pair Corr
0.68	GBTC	Grayscale Bitcoin Trust	Pair Corr
0.79	NFLX	Netflix	Pair Corr

Moving against Select Etf

0.67	FB	ProShares Trust ProShares	Pair Corr
0.6	VTV	Vanguard Value Index	Pair Corr
0.6	DUKH	Ocean Park High	Pair Corr
0.52	VEA	Vanguard FTSE Developed	Pair Corr
0.41	VB	Vanguard Small Cap	Pair Corr
0.37	VTI	Vanguard Total Stock	Pair Corr
0.37	SPY	SPDR SP 500	Pair Corr
0.37	IVV	iShares Core SP	Pair Corr
0.35	TOT	Advisor Managed Port	Pair Corr
0.73	FROG	Jfrog	Pair Corr
0.7	SLX	VanEck Steel ETF	Pair Corr
0.68	ZJAN	Innovator Equity Defined	Pair Corr
0.68	HYSD	Columbia ETF Trust	Pair Corr
0.65	CPER	United States Copper	Pair Corr
0.63	GBUG	Sprott Active Gold	Pair Corr
0.61	QLC	FlexShares Quality Large	Pair Corr
0.54	ZSB	USCF Sustainable Battery	Pair Corr
0.4	QULL	ETRACS 2x Leveraged	Pair Corr
0.39	SCZ	iShares MSCI EAFE	Pair Corr
0.37	VOO	Vanguard SP 500	Pair Corr
0.32	JADE	JP Morgan Exchange	Pair Corr
0.74	SIXS	6 Meridian Small	Pair Corr
0.68	FLCV	Federated Hermes ETF	Pair Corr
0.67	IBTG	iShares iBonds Dec	Pair Corr
0.67	CLOX	Series Portfolios Trust	Pair Corr
0.67	CPSU	Calamos SP 500	Pair Corr
0.61	CSD	Invesco SP Spin	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.66	0.54	-0.62	0.54	-0.57	0.22	-0.15	-0.56	-0.61	META
MSFT	0.66		0.83	-0.51	0.36	-0.2	0.07	-0.32	-0.77	-0.61	MSFT
UBER	0.54	0.83		-0.61	0.57	-0.27	-0.14	-0.27	-0.85	-0.59	UBER
F	-0.62	-0.51	-0.61		-0.7	0.53	0.3	0.41	0.69	0.75	F
T	0.54	0.36	0.57	-0.7		-0.52	-0.5	-0.21	-0.53	-0.47	T
A	-0.57	-0.2	-0.27	0.53	-0.52		-0.18	-0.26	0.46	0.23	A
CRM	0.22	0.07	-0.14	0.3	-0.5	-0.18		0.37	0.07	0.17	CRM
JPM	-0.15	-0.32	-0.27	0.41	-0.21	-0.26	0.37		0.32	0.41	JPM
MRK	-0.56	-0.77	-0.85	0.69	-0.53	0.46	0.07	0.32		0.65	MRK
XOM	-0.61	-0.61	-0.59	0.75	-0.47	0.23	0.17	0.41	0.65		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	+ 0.83	MSFT
XOM	+ 0.75	F
MRK	+ 0.69	F
MSFT	+ 0.66	META
XOM	+ 0.65	MRK
T	+ 0.57	UBER

High negative correlations

MRK	- 0.85	UBER
MRK	- 0.77	MSFT
T	- 0.7	F
F	- 0.62	META
F	- 0.61	UBER
XOM	- 0.61	MSFT

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	1.39	(0.24)	0.00	(0.19)	0.00	0.00	2.30	(2.72)	13.52
MSFT	0.90	(0.11)	0.00	(0.11)	0.00	0.00	1.78	(2.50)	5.08
UBER	1.46	(0.35)	0.00	(0.25)	0.00	0.00	2.60	(3.82)	10.51
F	1.51	0.13	0.08	0.16	1.69	(1.65)	3.38	(2.63)	16.30
T	0.97	(0.24)	0.00	(0.75)	0.00	0.00	1.61	(2.18)	5.75
A	1.25	0.07	0.06	0.13	1.31	(1.37)	2.34	(2.21)	11.03
CRM	1.54	0.06	0.03	0.13	1.97	(1.52)	3.66	(2.92)	9.91
JPM	1.05	0.00	0.01	0.07	1.40	(1.05)	2.00	(1.91)	7.02
MRK	1.45	0.40	0.28	0.53	1.08	(1.84)	4.85	(2.06)	11.45
XOM	0.94	0.06	0.01	0.33	0.99	(1.00)	1.96	(1.51)	4.99

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