Utilities Select Correlations

Etfs . USA . 
Etf . Utilities Select Sector
XLU Etf  USD 78.17  0.58  0.74%   
The current 90-days correlation between Utilities Select Sector and Consumer Staples Select is -0.09 (i.e., Good 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

Modest diversification

The correlation between Utilities Select Sector and DJI is 0.28 (i.e., Modest 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.
  
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
  0.85FUTY Fidelity MSCI UtilitiesPairCorr
  0.85IDU iShares Utilities ETFPairCorr
  0.85FXU First Trust UtilitiesPairCorr
  0.84JXI iShares Global UtilitiesPairCorr
  0.66DIG ProShares Ultra OilPairCorr
  0.68GDXU MicroSectors Gold MinersPairCorr
  0.76MMM 3M CompanyPairCorr
  0.69IBM International BusinessPairCorr
  0.81GE GE AerospacePairCorr
  0.7INTC Intel Sell-off TrendPairCorr
  0.69CVX Chevron CorpPairCorr

Moving against Utilities Etf

  0.46RNRG Global X RenewablePairCorr
  0.46YLCO Global X YieldCoPairCorr
  0.69MRK Merck CompanyPairCorr
  0.4MSFT Microsoft Aggressive PushPairCorr

Related Correlations Analysis

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   
XLB
+ 0.75
XLI
XLV
+ 0.6
XLB
XLY
+ 0.55
XLI
XLV
+ 0.52
XLP
XLB
+ 0.34
XLP
XLV
+ 0.27
XLI
  
High negative correlations   
XLY
- 0.43
XLV
XLY
- 0.33
XLP
XLI
- 0.21
XLP

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.

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
COMMON DESTINATIONS
MAIN CATEGORIES
COMPANY