Technology Select Correlations

XLK Etf

USD 300.68 0.29 0.1%

The current 90-days correlation between Technology Select Sector and Vanguard FTSE All World is 0.69 (i.e., Poor 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

Poor diversification

The correlation between Technology Select Sector and DJI is 0.63 (i.e., Poor 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.

Build AI portfolio with Technology Etf

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 inflation.

Moving together with Technology Etf

1.0	VGT	Vanguard Information	Pair Corr
1.0	IYW	iShares Technology ETF	Pair Corr
0.99	SMH	VanEck Semiconductor ETF	Pair Corr
0.98	SOXX	iShares Semiconductor ETF	Pair Corr
0.79	CIBR	First Trust NASDAQ	Pair Corr
0.76	FTEC	Fidelity MSCI Information	Pair Corr
0.85	IGV	iShares Expanded Tech	Pair Corr
0.98	IGM	iShares Expanded Tech	Pair Corr
0.85	SHLD	Global X Defense	Pair Corr
0.77	LUX	Tema Global	Pair Corr
0.88	SWP	SWP Growth Income	Pair Corr
0.76	DUKH	Ocean Park High	Pair Corr
0.96	WINN	Harbor Long Term	Pair Corr
0.88	SETM	Sprott Energy Transition	Pair Corr
1.0	IXN	iShares Global Tech	Pair Corr
0.8	JNJ	Johnson Johnson Sell-off Trend	Pair Corr
0.62	JPM	JPMorgan Chase	Pair Corr
0.94	INTC	Intel Aggressive Push	Pair Corr
0.62	MMM	3M Company	Pair Corr
0.71	BAC	Bank of America Aggressive Push	Pair Corr
0.77	DD	Dupont De Nemours	Pair Corr

Moving against Technology Etf

0.92	FNGD	MicroSectors FANG Index	Pair Corr
0.79	T	ATT Inc Earnings Call This Week	Pair Corr
0.79	DIS	Walt Disney	Pair Corr
0.78	VZ	Verizon Communications Aggressive Push	Pair Corr
0.69	BA	Boeing	Pair Corr
0.6	PG	Procter Gamble	Pair Corr
0.44	MCD	McDonalds Earnings Call This Week	Pair Corr

Related Correlations Analysis

	VEU	VHYAX	VYM	VFWAX	ITOT	SPLG	VPMAX	VT	RSP	VV
VEU		0.93	0.93	1.0	0.97	0.93	0.97	0.99	0.87	0.97	VEU
VHYAX	0.93		1.0	0.93	0.93	0.86	0.91	0.94	0.94	0.91	VHYAX
VYM	0.93	1.0		0.93	0.93	0.87	0.91	0.94	0.94	0.91	VYM
VFWAX	1.0	0.93	0.93		0.97	0.93	0.97	0.99	0.87	0.97	VFWAX
ITOT	0.97	0.93	0.93	0.97		0.96	0.98	1.0	0.86	1.0	ITOT
SPLG	0.93	0.86	0.87	0.93	0.96		0.96	0.95	0.78	0.96	SPLG
VPMAX	0.97	0.91	0.91	0.97	0.98	0.96		0.98	0.85	0.98	VPMAX
VT	0.99	0.94	0.94	0.99	1.0	0.95	0.98		0.87	0.99	VT
RSP	0.87	0.94	0.94	0.87	0.86	0.78	0.85	0.87		0.84	RSP
VV	0.97	0.91	0.91	0.97	1.0	0.96	0.98	0.99	0.84		VV
	VEU	VHYAX	VYM	VFWAX	ITOT	SPLG	VPMAX	VT	RSP	VV

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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
VEU	0.51	0.05	0.04	0.18	0.48	(0.58)	1.14	(0.88)	4.02
VHYAX	0.43	(0.01)	(0.06)	0.09	0.41	(0.50)	1.13	(0.69)	3.56
VYM	0.42	(0.01)	(0.06)	0.09	0.41	(0.50)	1.14	(0.66)	3.46
VFWAX	0.50	0.06	0.04	0.19	0.50	(0.56)	1.07	(0.80)	3.91
ITOT	0.53	0.01	0.01	0.11	0.62	(0.59)	1.21	(0.78)	4.43
SPLG	0.52	0.12	0.00	(0.53)	0.60	(0.57)	1.18	(0.74)	4.21
VPMAX	0.60	0.09	0.12	0.20	0.58	(0.73)	1.76	(0.90)	5.20
VT	0.48	0.02	0.02	0.13	0.52	(0.53)	1.20	(0.72)	4.29
RSP	0.51	(0.07)	(0.11)	0.04	0.62	(0.57)	1.27	(0.95)	4.21
VV	0.53	0.01	0.01	0.12	0.61	(0.61)	1.24	(0.83)	4.31

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