Communication Services Correlations

XLC Etf

USD 116.81 0.26 0.22%

The current 90-days correlation between Communication Services and Energy Select Sector is 0.26 (i.e., Modest diversification). The correlation of Communication Services 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.

Communication Services Correlation With Market

Poor diversification

The correlation between Communication Services Select and DJI is 0.64 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Communication Services Select and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Communication Etf

Check out Your Current Watchlist to better understand how to build diversified portfolios, which includes a position in Communication Services 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 Communication Etf

0.79	VOX	Vanguard Communication	Pair Corr
0.76	FCOM	Fidelity MSCI Commun	Pair Corr
0.62	ESPO	VanEck Video Gaming	Pair Corr
0.81	IXP	iShares Global Comm	Pair Corr
0.8	SOCL	Global X Social	Pair Corr
0.82	PSP	Invesco Global Listed	Pair Corr
0.7	BA	Boeing	Pair Corr
0.66	T	ATT Inc	Pair Corr
0.62	HPQ	HP Inc	Pair Corr

Moving against Communication Etf

0.37	CEF	Sprott Physical Gold	Pair Corr
0.52	IBM	International Business	Pair Corr
0.52	KO	Coca Cola	Pair Corr
0.52	DD	Dupont De Nemours	Pair Corr
0.49	JNJ	Johnson Johnson	Pair Corr
0.39	XOM	Exxon Mobil Corp Aggressive Push	Pair Corr
0.38	INTC	Intel	Pair Corr
0.37	MRK	Merck Company	Pair Corr
0.31	TRV	The Travelers Companies	Pair Corr

Related Correlations Analysis

	XLE	EFV	VTCIX	XLI	IUSG	VFTNX	VFTAX	DVY	XLY	OEF
XLE		0.53	0.25	0.17	0.24	0.29	0.2	0.33	0.03	0.31	XLE
EFV	0.53		0.69	0.34	0.46	0.5	0.62	0.51	0.07	0.78	EFV
VTCIX	0.25	0.69		0.48	0.62	0.64	0.99	0.3	0.27	0.78	VTCIX
XLI	0.17	0.34	0.48		0.76	0.77	0.5	0.51	0.63	0.57	XLI
IUSG	0.24	0.46	0.62	0.76		0.99	0.65	0.21	0.42	0.83	IUSG
VFTNX	0.29	0.5	0.64	0.77	0.99		0.65	0.26	0.4	0.83	VFTNX
VFTAX	0.2	0.62	0.99	0.5	0.65	0.65		0.23	0.31	0.78	VFTAX
DVY	0.33	0.51	0.3	0.51	0.21	0.26	0.23		0.41	0.33	DVY
XLY	0.03	0.07	0.27	0.63	0.42	0.4	0.31	0.41		0.26	XLY
OEF	0.31	0.78	0.78	0.57	0.83	0.83	0.78	0.33	0.26		OEF
	XLE	EFV	VTCIX	XLI	IUSG	VFTNX	VFTAX	DVY	XLY	OEF

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Communication Services Constituents Risk-Adjusted Indicators

There is a big difference between Communication Etf performing well and Communication Services 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 Communication Services' 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
XLE	0.87	0.02	(0.04)	0.17	1.02	(0.90)	1.67	(1.40)	4.61
EFV	0.53	0.02	(0.01)	0.12	0.53	(0.56)	1.13	(1.11)	2.57
VTCIX	0.56	0.06	(0.03)	0.56	0.81	(0.54)	1.19	(1.18)	3.33
XLI	0.66	(0.03)	(0.03)	0.07	0.86	(0.61)	1.22	(1.48)	3.27
IUSG	0.71	(0.01)	(0.02)	0.08	1.01	(0.70)	1.46	(1.76)	4.45
VFTNX	0.59	(0.01)	(0.02)	0.08	0.82	(0.58)	1.45	(1.38)	3.68
VFTAX	0.61	0.05	(0.03)	0.61	0.86	(0.60)	1.46	(1.36)	3.55
DVY	0.58	(0.03)	(0.08)	0.05	0.62	(0.61)	1.18	(0.91)	2.81
XLY	0.93	(0.10)	(0.06)	0.01	1.26	(0.87)	1.96	(2.26)	5.14
OEF	0.60	(0.01)	(0.03)	0.09	0.82	(0.58)	1.53	(1.32)	3.71

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