Technology Select Correlations

XLK Etf

USD 145.95 0.79 0.54%

The current 90-days correlation between Technology Select Sector and Vanguard Extended Market is -0.18 (i.e., Good diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Technology Select moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Technology Select Sector moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Technology Select Correlation With Market

Poor diversification

The correlation between Technology Select Sector and DJI is 0.61 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Technology Select Sector and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Technology Etf

Check out Your Current Watchlist to better understand how to build diversified portfolios, which includes a position in Technology 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 industry.

Moving together with Technology Etf

0.8	VGT	Vanguard Information	Pair Corr
0.99	IYW	iShares Technology ETF	Pair Corr
0.79	SMH	VanEck Semiconductor ETF	Pair Corr
0.86	SOXX	iShares Semiconductor ETF	Pair Corr
0.95	FTEC	Fidelity MSCI Information	Pair Corr
0.96	IGM	iShares Expanded Tech	Pair Corr
0.65	PTIR	GraniteShares 2x Long	Pair Corr
0.65	PLTU	Direxion Daily PLTR	Pair Corr
0.77	KORU	Direxion Daily South	Pair Corr
0.71	INTC	Intel	Pair Corr

Moving against Technology Etf

0.56	VZ	Verizon Communications	Pair Corr
0.52	T	ATT Inc	Pair Corr
0.31	PG	Procter Gamble	Pair Corr

Related Correlations Analysis

	VHYAX	VYM	SPLG	VXF	ITOT	IJR	VEU	VFWAX	VPMAX	VV
VHYAX		0.99	0.58	0.47	0.62	0.76	0.73	0.73	0.42	0.72	VHYAX
VYM	0.99		0.59	0.49	0.63	0.78	0.75	0.73	0.39	0.73	VYM
SPLG	0.58	0.59		-0.06	0.37	0.2	0.59	0.54	0.31	0.49	SPLG
VXF	0.47	0.49	-0.06		0.75	0.72	0.4	0.38	-0.03	0.44	VXF
ITOT	0.62	0.63	0.37	0.75		0.67	0.65	0.63	0.3	0.75	ITOT
IJR	0.76	0.78	0.2	0.72	0.67		0.61	0.58	0.16	0.6	IJR
VEU	0.73	0.75	0.59	0.4	0.65	0.61		0.97	0.39	0.88	VEU
VFWAX	0.73	0.73	0.54	0.38	0.63	0.58	0.97		0.5	0.89	VFWAX
VPMAX	0.42	0.39	0.31	-0.03	0.3	0.16	0.39	0.5		0.51	VPMAX
VV	0.72	0.73	0.49	0.44	0.75	0.6	0.88	0.89	0.51		VV
	VHYAX	VYM	SPLG	VXF	ITOT	IJR	VEU	VFWAX	VPMAX	VV

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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

VYM	+ 0.99	VHYAX
VFWAX	+ 0.97	VEU
VV	+ 0.89	VFWAX
VV	+ 0.88	VEU
IJR	+ 0.78	VYM
IJR	+ 0.76	VHYAX

High negative correlations

VXF	- 0.06	SPLG
VPMAX	- 0.03	VXF

Technology Select Constituents Risk-Adjusted Indicators

There is a big difference between Technology Etf performing well and Technology 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 Technology 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
VHYAX	0.53	(0.01)	(0.04)	0.04	0.61	(0.61)	1.20	(1.14)	2.82
VYM	0.53	(0.01)	(0.02)	0.05	0.60	(0.60)	1.21	(1.04)	2.72
SPLG	0.52	0.09	0.06	0.82	0.60	(0.57)	1.18	(0.74)	4.21
VXF	0.91	0.03	(0.02)	(0.61)	1.23	(0.92)	1.65	(2.00)	5.05
ITOT	0.61	0.05	0.00	1.34	0.91	(0.56)	1.13	(1.26)	3.41
IJR	0.85	(0.01)	0.01	0.05	1.06	(0.87)	1.97	(1.78)	4.22
VEU	0.57	0.02	0.01	0.08	0.75	(0.57)	1.10	(1.24)	3.18
VFWAX	0.58	(0.01)	(0.03)	0.05	0.76	(0.57)	1.08	(1.10)	3.10
VPMAX	1.04	(0.13)	0.00	(0.04)	0.00	0.00	1.75	(1.77)	17.69
VV	0.59	(0.01)	(0.02)	0.04	0.87	(0.55)	1.24	(1.22)	3.32

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