Technology Select Correlations

Etfs USA . 
Etf . Technology Select Sector
XLK Etf  USD 222.05  1.57  0.70%   
The current 90-days correlation between Technology Select Sector and Vanguard Information Technology is 0.99 (i.e., No risk reduction). 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 0.6 (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.
  
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

  0.99VGT Vanguard InformationPairCorr
  1.0IYW iShares Technology ETFPairCorr
  0.96SMH VanEck Semiconductor ETFPairCorr
  0.95SOXX iShares Semiconductor ETFPairCorr
  0.99FTEC Fidelity MSCI InformationPairCorr
  0.76IGV iShares Expanded TechPairCorr
  0.87FDN First Trust DowPairCorr
  0.99IGM iShares Expanded TechPairCorr
  0.72INTL Main International ETFPairCorr
  0.95EMC Global X FundsPairCorr
  0.87AA Alcoa Corp Fiscal Year End 15th of January 2025 PairCorr
  0.69MRK Merck Company Fiscal Year End 6th of February 2025 PairCorr

Moving against Technology Etf

  0.89FNGD MicroSectors FANG IndexPairCorr
  0.85VXX iPath Series B Potential GrowthPairCorr
  0.54JPST JPMorgan Ultra ShortPairCorr
  0.66JNJ Johnson Johnson Fiscal Year End 28th of January 2025 PairCorr
  0.62MMM 3M Company Fiscal Year End 28th of January 2025 PairCorr
  0.52PFE Pfizer Inc Sell-off TrendPairCorr
  0.49PG Procter GamblePairCorr
  0.45MCD McDonalds Fiscal Year End 3rd of February 2025 PairCorr
  0.43IBM International Business Sell-off TrendPairCorr
  0.35XOM Exxon Mobil Corp Aggressive PushPairCorr

Related Correlations Analysis

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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.

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