Financial Select Correlations

Etfs . USA . 
Etf . Financial Select Sector
XLF Etf  USD 49.96  1.04  2.04%   
The current 90-days correlation between Financial Select Sector and Energy Select Sector is 0.86 (i.e., Very poor 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

Almost no diversification

The correlation between Financial Select Sector and DJI is 0.97 (i.e., Almost no 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.
  
Build AI portfolio with Financial Etf
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
  0.93KRE SPDR SP RegionalPairCorr
  0.95KBE SPDR SP BankPairCorr
  1.0IYF iShares Financials ETFPairCorr
  1.0FNCL Fidelity MSCI FinancialsPairCorr
  0.99IYG iShares FinancialPairCorr
  0.88EUFN iShares MSCI EuropePairCorr
  0.98FXO First Trust FinancialsPairCorr
  0.95IAT iShares Regional BanksPairCorr
  0.84ARKW ARK Next GenerationPairCorr
  0.88WTMF WisdomTree ManagedPairCorr
  0.84EWC iShares MSCI Canada Sell-off TrendPairCorr
  0.91BST BlackRock Science TechPairCorr
  0.71IRET iREIT MarketVectorPairCorr
  0.88ARKQ ARK Autonomous Technology Low VolatilityPairCorr
  0.96TOV EA Series TrustPairCorr
  0.91DMCY Democracy InternationalPairCorr
  0.94EAOM iShares ESG AwarePairCorr
  0.78FID First Trust IntlPairCorr
  0.92AGEM abrdn Emerging MarketsPairCorr
  0.91DFEV Dimensional ETF TrustPairCorr
  0.96BUFR First Trust CboePairCorr
  0.75ARKB ARK 21Shares BitcoinPairCorr
  0.94DJUL FT Cboe VestPairCorr
  0.83XAR SPDR SP AerospacePairCorr
  0.73VOLT Tema Electrification ETFPairCorr
  0.79GLOF iShares MSCI GlobalPairCorr
  0.94FMAY First Trust ExchangePairCorr
  0.93XHYT BondBloxx ETF TrustPairCorr
  0.89QVOY Ultimus Managers TrustPairCorr
  0.89IPAC iShares Core MSCIPairCorr
  0.65CBTJ Calamos Bitcoin 80PairCorr
  0.82OBND SSGA Active TrustPairCorr
  0.89CGIE Capital Group InternPairCorr
  0.85FRNW Fidelity Covington Trust Low VolatilityPairCorr

Moving against Financial Etf

  0.61HUM Humana IncPairCorr

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
+ 0.99
XLK
XLV
+ 0.74
XLE
XLP
+ 0.58
XLI
XLP
+ 0.5
XLK
XLK
+ 0.2
XLE
XLI
+ 0.18
XLE
  
High negative correlations   
XLP
- 0.37
XLV
XLI
- 0.35
XLV
XLV
- 0.32
XLK
XLP
- 0.14
XLE

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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