Financial Select Correlations
XLF Etf | USD 53.07 0.03 0.06% |
The current 90-days correlation between Financial Select Sector and Energy Select Sector is 0.22 (i.e., Modest 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
Good diversification
The correlation between Financial Select Sector and DJI is -0.14 (i.e., Good 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.
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Moving together with Financial Etf
1.0 | VFH | Vanguard Financials Index | PairCorr |
0.93 | KRE | SPDR SP Regional | PairCorr |
0.8 | KBE | SPDR SP Bank | PairCorr |
0.99 | IYF | iShares Financials ETF | PairCorr |
1.0 | FNCL | Fidelity MSCI Financials | PairCorr |
0.99 | IYG | iShares Financial | PairCorr |
0.91 | EUFN | iShares MSCI Europe | PairCorr |
0.81 | FXO | First Trust Financials | PairCorr |
0.81 | IAT | iShares Regional Banks | PairCorr |
0.88 | DFEN | Direxion Daily Aerospace | PairCorr |
0.86 | TARK | AXS 2X Innovation | PairCorr |
0.78 | BITU | ProShares Trust | PairCorr |
0.78 | BTCL | T Rex 2X | PairCorr |
0.63 | BTFX | Valkyrie Bitcoin Futures | PairCorr |
0.69 | KWEB | KraneShares CSI China Aggressive Push | PairCorr |
0.75 | KEMQ | KraneShares Emerging | PairCorr |
0.68 | DFCF | Dimensional ETF Trust | PairCorr |
Moving against Financial Etf
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
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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.Mean Deviation | Jensen Alpha | Sortino Ratio | Treynor Ratio | Semi Deviation | Expected Shortfall | Potential Upside | Value @Risk | Maximum Drawdown | ||
---|---|---|---|---|---|---|---|---|---|---|
XLE | 0.98 | 0.10 | (0.11) | (4.14) | 1.10 | 1.77 | 5.14 | |||
XLK | 0.75 | 0.37 | 0.18 | (12.15) | 0.00 | 1.80 | 6.52 | |||
XLV | 0.88 | 0.03 | 0.00 | 0.12 | 0.00 | 1.86 | 5.48 | |||
XLI | 0.62 | 0.29 | 0.07 | (3.89) | 0.00 | 1.77 | 4.76 | |||
XLP | 0.53 | 0.05 | (0.31) | (0.13) | 0.64 | 1.14 | 3.39 |