Technology Select Correlations

XLK Etf

USD 228.51 3.00 1.30%

The current 90-days correlation between Technology Select Sector and Zillow Group Class is 0.3 (i.e., Weak 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

Modest diversification

The correlation between Technology Select Sector and DJI is 0.27 (i.e., Modest 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.

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 bureau of economic analysis.

Moving together with Technology Etf

0.99	VGT	Vanguard Information	Pair Corr
0.99	IYW	iShares Technology ETF	Pair Corr
0.63	SMH	VanEck Semiconductor ETF	Pair Corr
0.63	SOXX	iShares Semiconductor ETF	Pair Corr
0.98	FTEC	Fidelity MSCI Information	Pair Corr
0.7	IGV	iShares Expanded Tech	Pair Corr
0.77	IGM	iShares Expanded Tech	Pair Corr

Moving against Technology Etf

0.32

HUM

Humana Inc

Pair Corr

Related Correlations Analysis

	FTEC	XLK	TCHF	DHDG	Z	MBCC	MBBB	BZDYF	DHSB
FTEC		0.98	0.0	0.54	0.06	0.34	0.25	0.0	-0.08	FTEC
XLK	0.98		0.0	0.63	0.14	0.47	0.34	0.0	-0.11	XLK
TCHF	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	TCHF
DHDG	0.54	0.63	0.0		0.66	0.78	0.49	0.0	-0.16	DHDG
Z	0.06	0.14	0.0	0.66		0.73	0.62	0.0	0.02	Z
MBCC	0.34	0.47	0.0	0.78	0.73		0.84	0.0	-0.15	MBCC
MBBB	0.25	0.34	0.0	0.49	0.62	0.84		0.0	-0.05	MBBB
BZDYF	0.0	0.0	0.0	0.0	0.0	0.0	0.0		0.0	BZDYF
DHSB	-0.08	-0.11	0.0	-0.16	0.02	-0.15	-0.05	0.0		DHSB
	FTEC	XLK	TCHF	DHDG	Z	MBCC	MBBB	BZDYF	DHSB

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

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

XLK	+ 0.98	FTEC
MBBB	+ 0.84	MBCC
MBCC	+ 0.78	DHDG
MBCC	+ 0.73	Z
Z	+ 0.66	DHDG
DHDG	+ 0.63	XLK

High negative correlations

DHSB	- 0.16	DHDG
DHSB	- 0.15	MBCC
DHSB	- 0.11	XLK
DHSB	- 0.08	FTEC
DHSB	- 0.05	MBBB
DHSB	- 0.0	BZDYF

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
FTEC	1.11	(0.03)	0.00	(0.06)	0.00	0.00	2.05	(2.66)	7.36
XLK	1.07	(0.02)	0.00	(0.04)	0.00	0.00	1.99	(2.71)	7.16
TCHF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
DHDG	0.35	0.01	0.02	0.04	0.51	(0.37)	0.68	(0.80)	2.55
Z	1.65	0.09	0.03	0.07	2.64	(1.58)	3.50	(3.63)	14.88
MBCC	0.59	0.00	0.00	0.01	0.85	(0.58)	1.15	(1.26)	3.80
MBBB	0.25	0.00	(0.02)	(0.03)	0.29	(0.26)	0.52	(0.52)	1.33
BZDYF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
DHSB	0.27	(0.10)	0.00	(1.96)	0.00	0.00	0.32	(0.64)	0.96

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC