Utilities Select Correlations

Etfs . USA . 
Etf . Utilities Select Sector
XLU Etf  USD 81.42  0.47  0.57%   
The current 90-days correlation between Utilities Select Sector and Consumer Staples Select is 0.79 (i.e., Poor 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

Poor diversification

The correlation between Utilities Select Sector and DJI is 0.7 (i.e., Poor 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
  0.86JXI iShares Global UtilitiesPairCorr
  0.98PUI Invesco DWA UtilitiesPairCorr
  0.9UTES Virtus Reaves UtilitiesPairCorr
  0.86VTI Vanguard Total StockPairCorr
  0.82SPY SPDR SP 500PairCorr
  0.87IVV iShares Core SPPairCorr
  0.72VTV Vanguard Value IndexPairCorr
  0.88VUG Vanguard Growth IndexPairCorr
  0.9VO Vanguard Mid CapPairCorr
  0.92VEA Vanguard FTSE DevelopedPairCorr
  0.8VB Vanguard Small CapPairCorr
  0.87VWO Vanguard FTSE EmergingPairCorr
  0.88AUGW AIM ETF ProductsPairCorr
  0.61RING iShares MSCI GlobalPairCorr
  0.84IBM International BusinessPairCorr
  0.88GE GE AerospacePairCorr
  0.75CAT CaterpillarPairCorr
  0.94TRV The Travelers CompaniesPairCorr
  0.83BAC Bank of AmericaPairCorr
  0.68T ATT Inc Sell-off TrendPairCorr
  0.86MSFT MicrosoftPairCorr
  0.76WMT WalmartPairCorr
  0.89BA BoeingPairCorr
  0.8CSCO Cisco SystemsPairCorr

Moving against Utilities Etf

  0.36MRK Merck Company Sell-off TrendPairCorr

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   
XLY
+ 0.97
XLI
XLB
+ 0.87
XLI
XLY
+ 0.84
XLB
XLI
+ 0.58
XLP
XLY
+ 0.53
XLP
XLB
+ 0.48
XLP
  
High negative correlations   
XLV
- 0.36
XLI
XLV
- 0.36
XLP
XLY
- 0.35
XLV

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.

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