Financial Select Correlations

Etfs . USA . 
Etf . Financial Select Sector
XLF Etf  USD 52.78  0.37  0.71%   
The current 90-days correlation between Financial Select Sector and iShares Russell Mid Cap is -0.06 (i.e., Good 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 -0.18 (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.
  
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 inflation.

Moving together with Financial Etf

  0.77VFH Vanguard Financials IndexPairCorr
  0.85KRE SPDR SP Regional Aggressive PushPairCorr
  0.86KBE SPDR SP BankPairCorr
  0.76IYF iShares Financials ETFPairCorr
  0.99FNCL Fidelity MSCI FinancialsPairCorr
  0.68IYG iShares FinancialPairCorr
  0.94FXO First Trust FinancialsPairCorr
  0.76IAT iShares Regional BanksPairCorr
  0.67IXG iShares Global FinancialsPairCorr

Related Correlations Analysis


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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
SPYG  0.65  0.01  0.00  0.10  0.89 
(0.66)
 1.12 
(1.48)
 4.72 
IWR  0.60 (0.07)(0.07) 0.03  0.72 
(0.61)
 1.36 
(0.98)
 4.81 
IWB  0.49  0.00 (0.01) 0.09  0.63 
(0.51)
 1.14 
(1.01)
 4.28 
VDIGX  0.40  0.03 (0.14)(0.11) 0.49 
(0.42)
 0.90 
(0.84)
 2.61 
IXUS  0.50  0.10 (0.01)(0.41) 0.58 
(0.55)
 1.11 
(0.90)
 3.96 
IVE  0.43  0.00 (0.03) 0.09  0.45 
(0.48)
 1.03 
(0.68)
 3.63 
SCHF  0.52  0.09 (0.02)(0.39) 0.58 
(0.56)
 1.00 
(0.97)
 3.46 
VONG  0.67  0.00  0.00  0.09  0.92 
(0.68)
 1.13 
(1.55)
 4.74 
DIA  0.45  0.01  0.01  0.10  0.41 
(0.49)
 1.13 
(0.73)
 3.80 
XLV  0.55  0.13  0.13  0.30  0.38 
(0.64)
 1.68 
(1.15)
 4.53 

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