Communication Services Correlations

XLC Etf

USD 114.58 0.06 0.05%

The current 90-days correlation between Communication Services and iShares SP 100 is 0.58 (i.e., Very weak diversification). The correlation of Communication Services 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.

Communication Services Correlation With Market

Poor diversification

The correlation between Communication Services Select and DJI is 0.74 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Communication Services Select and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Communication Etf

Check out Your Current Watchlist to better understand how to build diversified portfolios, which includes a position in Communication Services 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 board of governors.

Moving together with Communication Etf

0.97	VOX	Vanguard Communication	Pair Corr
0.97	FCOM	Fidelity MSCI Commun	Pair Corr
0.86	IXP	iShares Global Comm	Pair Corr
0.83	FBL	GraniteShares 15x Long	Pair Corr
0.84	JANW	AIM ETF Products	Pair Corr
0.63	IBBQ	Invesco Nasdaq Biote	Pair Corr
0.64	XTWO	Bondbloxx ETF Trust	Pair Corr
0.72	FPXE	First Trust IPOX	Pair Corr
0.69	VBK	Vanguard Small Cap	Pair Corr
0.84	TSPX	Twin Oak Active	Pair Corr
0.7	WDNA	WisdomTree BioRevolution	Pair Corr
0.68	ESML	iShares ESG Aware	Pair Corr
0.85	HCOW	Amplify Cash Flow	Pair Corr
0.69	SPVM	Invesco SP 500	Pair Corr
0.61	CTEX	ProShares SP Kensho	Pair Corr

Moving against Communication Etf

0.35	ESPO	VanEck Video Gaming	Pair Corr
0.54	XLU	Utilities Select Sector Aggressive Push	Pair Corr

Related Correlations Analysis

	XLE	EFV	VTCIX	XLI	IUSG	VFTNX	VFTAX	DVY	XLY	OEF
XLE		0.91	0.47	0.92	-0.05	-0.02	-0.02	0.95	0.08	-0.03	XLE
EFV	0.91		0.69	0.98	0.19	0.24	0.24	0.98	0.39	0.22	EFV
VTCIX	0.47	0.69		0.7	0.82	0.86	0.86	0.62	0.82	0.82	VTCIX
XLI	0.92	0.98	0.7		0.19	0.24	0.24	0.98	0.39	0.2	XLI
IUSG	-0.05	0.19	0.82	0.19		0.98	0.98	0.08	0.77	0.95	IUSG
VFTNX	-0.02	0.24	0.86	0.24	0.98		1.0	0.13	0.84	0.98	VFTNX
VFTAX	-0.02	0.24	0.86	0.24	0.98	1.0		0.13	0.84	0.98	VFTAX
DVY	0.95	0.98	0.62	0.98	0.08	0.13	0.13		0.3	0.1	DVY
XLY	0.08	0.39	0.82	0.39	0.77	0.84	0.84	0.3		0.76	XLY
OEF	-0.03	0.22	0.82	0.2	0.95	0.98	0.98	0.1	0.76		OEF
	XLE	EFV	VTCIX	XLI	IUSG	VFTNX	VFTAX	DVY	XLY	OEF

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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

VFTAX	+ 1.0	VFTNX
XLI	+ 0.98	EFV
DVY	+ 0.98	EFV
DVY	+ 0.98	XLI
VFTNX	+ 0.98	IUSG
VFTAX	+ 0.98	IUSG

High negative correlations

IUSG	- 0.05	XLE
OEF	- 0.03	XLE
VFTAX	- 0.02	XLE
VFTNX	- 0.02	XLE

Communication Services Constituents Risk-Adjusted Indicators

There is a big difference between Communication Etf performing well and Communication Services 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 Communication Services' 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	1.12	0.27	0.18	0.85	1.05	(1.26)	2.61	(1.82)	5.38
EFV	0.62	0.17	0.20	0.30	0.44	(0.70)	1.36	(1.23)	3.42
VTCIX	0.56	(0.05)	(0.07)	0.00	0.78	(0.59)	1.03	(1.57)	3.71
XLI	0.76	0.13	0.12	0.19	0.76	(0.79)	1.73	(1.62)	4.05
IUSG	0.74	(0.11)	0.00	(0.08)	0.00	0.00	1.22	(1.75)	4.63
VFTNX	0.60	(0.09)	0.00	(0.06)	0.00	0.00	1.03	(1.73)	3.94
VFTAX	0.60	(0.09)	0.00	(0.06)	0.00	0.00	1.04	(1.73)	3.94
DVY	0.59	0.15	0.19	0.28	0.40	(0.68)	1.43	(0.87)	3.53
XLY	0.81	(0.10)	0.00	(0.05)	0.00	0.00	1.67	(1.84)	4.74
OEF	0.56	(0.09)	0.00	(0.07)	0.00	0.00	0.96	(1.46)	4.14

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