Financial Select Correlations

Etfs . USA . 
Etf . Financial Select Sector
XLF Etf  USD 50.17  0.63  1.27%   
The current 90-days correlation between Financial Select Sector and Energy Select Sector is 0.43 (i.e., Very weak diversification). The correlation of Financial 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.

Financial Select Correlation With Market

Very poor diversification

The correlation between Financial Select Sector and DJI is 0.84 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Financial Select Sector 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 Financial 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 bureau of economic analysis.

Moving together with Financial Etf

  1.0VFH Vanguard Financials IndexPairCorr
  0.96KRE SPDR SP RegionalPairCorr
  0.97KBE SPDR SP BankPairCorr
  1.0IYF iShares Financials ETFPairCorr
  1.0FNCL Fidelity MSCI FinancialsPairCorr
  1.0IYG iShares FinancialPairCorr
  0.99FXO First Trust FinancialsPairCorr
  0.98IAT iShares Regional BanksPairCorr
  0.88PULS PGIM Ultra ShortPairCorr
  0.62MPAY Akros Monthly PayoutPairCorr
  0.9BUFF Innovator LadderedPairCorr
  0.88SPY SPDR SP 500PairCorr
  0.85PPA Invesco Aerospace DefensePairCorr
  0.77INTC Intel Fiscal Year End 23rd of January 2025 PairCorr
  0.75HPQ HP IncPairCorr
  0.65CAT Caterpillar Fiscal Year End 3rd of February 2025 PairCorr
  0.85TRV The Travelers Companies Fiscal Year End 17th of January 2025 PairCorr
  0.71T ATT Inc Aggressive PushPairCorr
  0.82AA Alcoa Corp Fiscal Year End 15th of January 2025 PairCorr
  0.9AXP American Express Fiscal Year End 24th of January 2025 PairCorr

Moving against Financial Etf

  0.93BITI ProShares TrustPairCorr
  0.62GREI Goldman Sachs FuturePairCorr
  0.83KO Coca Cola Aggressive PushPairCorr
  0.76PFE Pfizer Inc Fiscal Year End 4th of February 2025 PairCorr
  0.71JNJ Johnson Johnson Fiscal Year End 28th of January 2025 PairCorr
  0.46PG Procter GamblePairCorr

Related Correlations Analysis

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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   
XLI
+ 0.88
XLK
XLP
+ 0.77
XLV
XLI
+ 0.75
XLE
XLK
+ 0.69
XLE
  
High negative correlations   
XLP
- 0.68
XLE
XLV
- 0.65
XLE
XLI
- 0.63
XLV
XLP
- 0.6
XLK
XLV
- 0.57
XLK
XLP
- 0.5
XLI

Financial Select Constituents Risk-Adjusted Indicators

There is a big difference between Financial Etf performing well and Financial 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 Financial 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.

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