Consumer Discretionary Correlations

Etfs . USA . 
Etf . Consumer Discretionary Select
XLY Etf  USD 233.20  2.26  0.98%   
The current 90-days correlation between Consumer Discretionary and Consumer Staples Select is 0.23 (i.e., Modest diversification). The correlation of Consumer Discretionary 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 Discretionary Correlation With Market

Average diversification

The correlation between Consumer Discretionary Select and DJI is 0.18 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Consumer Discretionary Select and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Your Current Watchlist to better understand how to build diversified portfolios, which includes a position in Consumer Discretionary 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 bureau of economic analysis.

Moving together with Consumer Etf

  1.0VCR Vanguard ConsumerPairCorr
  1.0FDIS Fidelity MSCI ConsumerPairCorr
  0.98IYC iShares Consumer DisPairCorr
  0.82PEJ Invesco Dynamic LeisurePairCorr
  0.79FXD First Trust ConsumerPairCorr
  0.82XRT SPDR SP RetailPairCorr
  0.95MAGS Roundhill Magnificent Sell-off TrendPairCorr
  0.71ENTR ERShares Entrepreneurs Symbol ChangePairCorr
  0.91WMT Walmart Aggressive PushPairCorr
  0.71MSFT Microsoft Downward RallyPairCorr
  0.65BA BoeingPairCorr
  0.79CSCO Cisco SystemsPairCorr
  0.84AXP American ExpressPairCorr
  0.64BAC Bank of America Sell-off TrendPairCorr

Moving against Consumer Etf

  0.54GREI Goldman Sachs FuturePairCorr
  0.48ITB iShares Home ConstructionPairCorr
  0.37RCD Invesco SP 500PairCorr
  0.33XHB SPDR SP HomebuildersPairCorr
  0.81JNJ Johnson JohnsonPairCorr
  0.65KO Coca Cola Earnings Call This WeekPairCorr
  0.64XOM Exxon Mobil Corp Earnings Call TomorrowPairCorr
  0.62PFE Pfizer Inc Earnings Call This WeekPairCorr
  0.55HPQ HP IncPairCorr
  0.42MRK Merck Company Earnings Call This WeekPairCorr
  0.37AA Alcoa CorpPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

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   
XLV
+ 0.86
XLB
XLB
+ 0.68
XLI
XLB
+ 0.64
XLP
XLV
+ 0.56
XLI
XLI
+ 0.49
XLP
XLV
+ 0.41
XLP
  
High negative correlations   
XLK
- 0.25
XLV
XLK
- 0.19
XLB

Consumer Discretionary Constituents Risk-Adjusted Indicators

There is a big difference between Consumer Etf performing well and Consumer Discretionary 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 Discretionary'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.

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions
 
Feedback Blog
Made with optimal in San Francisco
2024 Macroaxis LLC
COMMON DESTINATIONS
MAIN CATEGORIES
COMPANY