Utilities Select Correlations

Etfs . USA . 
Etf . Utilities Select Sector
XLU Etf  USD 91.57  0.32  0.35%   
The current 90-days correlation between Utilities Select Sector and iShares Core SP is 0.35 (i.e., Weak diversification). The correlation of Utilities 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Utilities Select Correlation With Market

Good diversification

The correlation between Utilities Select Sector and DJI is -0.19 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Utilities Select Sector and DJI in the same portfolio, assuming nothing else is changed.
  
Build AI portfolio with Utilities Etf
Check out Your Current Watchlist to better understand how to build diversified portfolios, which includes a position in Utilities 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 Utilities Etf

  1.0VPU Vanguard Utilities IndexPairCorr
  1.0FUTY Fidelity MSCI UtilitiesPairCorr
  1.0IDU iShares Utilities ETFPairCorr
  0.99FXU First Trust UtilitiesPairCorr
  0.99JXI iShares Global UtilitiesPairCorr
  0.95PUI Invesco DWA UtilitiesPairCorr
  0.93UTES Virtus Reaves UtilitiesPairCorr
  0.63TLT iShares 20 YearPairCorr
  0.8DBP Invesco DB PreciousPairCorr
  0.75SGDJ Sprott Junior GoldPairCorr
  0.81LITP Sprott Lithium MinersPairCorr
  0.67FFIU Fieldstone UVA UnconPairCorr
  0.8GLD SPDR Gold SharesPairCorr
  0.64JEPQ JPMorgan Nasdaq EquityPairCorr

Related Correlations Analysis


Utilities Select Constituents Risk-Adjusted Indicators

There is a big difference between Utilities Etf performing well and Utilities 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 Utilities 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
ACWI  0.47  0.10  0.06 (0.40) 0.54 
(0.51)
 1.19 
(0.65)
 4.26 
SDY  0.48  0.02 (0.07)(0.08) 0.49 
(0.57)
 1.35 
(0.95)
 2.54 
IUSV  0.44  0.07  0.02 (0.50) 0.49 
(0.50)
 1.00 
(0.76)
 3.73 
GDX  1.63  0.65  0.27 (1.36) 1.69 
(1.98)
 3.85 
(2.58)
 11.95 
DYNF  0.48  0.10  0.05 (0.38) 0.58 
(0.52)
 1.06 
(0.84)
 4.00 
XLI  0.60  0.02 (0.05)(0.06) 0.75 
(0.61)
 1.13 
(1.14)
 4.01 
FNDX  0.44  0.09  0.06 (0.59) 0.43 
(0.51)
 1.17 
(0.69)
 3.95 
IDEV  0.55  0.10  0.06 (0.43) 0.55 
(0.59)
 1.12 
(0.89)
 3.92 
CGDV  0.45  0.05 (0.01)(0.25) 0.58 
(0.48)
 1.26 
(0.71)
 3.86 
VEXPX  0.74  0.09  0.03 (0.26) 0.80 
(0.83)
 1.88 
(1.29)
 5.99 

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