Consumer Staples Correlations

Etfs . USA . 
Etf . Consumer Staples Select
XLP Etf  USD 82.11  0.26  0.32%   
The current 90-days correlation between Consumer Staples Select and iShares Russell Mid Cap is 0.4 (i.e., Very weak diversification). The correlation of Consumer Staples 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Consumer Staples Correlation With Market

Modest diversification

The correlation between Consumer Staples Select and DJI is 0.23 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Consumer Staples Select and DJI in the same portfolio, assuming nothing else is changed.
  
Build AI portfolio with Consumer Etf
Check out Your Current Watchlist to better understand how to build diversified portfolios, which includes a position in Consumer Staples 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 industry.

Moving together with Consumer Etf

  0.99VDC Vanguard Consumer StaplesPairCorr
  0.76IYK iShares Consumer StaplesPairCorr
  0.97KXI iShares Global ConsumerPairCorr
  0.99FSTA Fidelity MSCI ConsumerPairCorr
  0.8FTXG First Trust NasdaqPairCorr
  0.98RHS Invesco SP 500PairCorr
  0.74FXG First Trust ConsumerPairCorr
  0.91PBJ Invesco Dynamic FoodPairCorr
  0.67WTMF WisdomTree ManagedPairCorr
  0.78PAPI Morgan Stanley ETFPairCorr
  0.64XLI Industrial Select Sector Aggressive PushPairCorr
  0.71IAUM iShares Gold TrustPairCorr
  0.76ESN Essential 40 StockPairCorr
  0.67FALN iShares Fallen AngelsPairCorr
  0.74SCHD Schwab Dividend EquityPairCorr
  0.69JEPI JPMorgan Equity Premium Sell-off TrendPairCorr
  0.67SKOR FlexShares CreditPairCorr

Related Correlations Analysis


Consumer Staples Constituents Risk-Adjusted Indicators

There is a big difference between Consumer Etf performing well and Consumer Staples 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 Consumer Staples' 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
VONV  0.54  0.04  0.04  0.14  0.45 
(0.62)
 1.15 
(1.01)
 2.60 
SPMD  0.71  0.02  0.02  0.11  0.77 
(0.74)
 1.48 
(1.30)
 3.71 
IWS  0.63  0.02  0.02  0.11  0.68 
(0.66)
 1.30 
(1.19)
 3.25 
DGRW  0.43 (0.02)(0.10) 0.06  0.43 
(0.46)
 0.87 
(0.80)
 1.99 
SPEM  0.54  0.04  0.01  0.17  0.45 
(0.62)
 1.25 
(1.01)
 2.79 
VFH  0.67 (0.05)(0.05) 0.04  0.92 
(0.69)
 1.40 
(1.74)
 4.06 
ESGU  0.54 (0.01)(0.04) 0.07  0.72 
(0.51)
 1.06 
(1.18)
 3.36 
VHT  0.61  0.08  0.07  0.23  0.42 
(0.73)
 1.94 
(1.04)
 3.83 
VHCIX  0.61  0.09  0.06  0.25  0.47 
(0.73)
 1.96 
(1.02)
 4.43 
IWO  1.08 (0.04) 0.00  0.06  1.37 
(1.06)
 1.95 
(2.14)
 5.69 

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