From: Zero covariation returns
Economic cost reductions in explaining | Â | Economic cost reductions in explaining | ||||||
---|---|---|---|---|---|---|---|---|
exponential variations of ETF’s |  | exponential variations of SPX | ||||||
Numerator | Linear ratio to SPX | Linear plus SPX | rsvm ratio to SPX | rsvm plus SPX | Linear ratio | Linear vector | rsvm ratio | rsvm vector |
XLB | 0.0258 | 0.2144 | 0.0383 | 0.3810 | 0.0070 | 0.1626 | 0.0099 | 0.3389 |
XLE | 0.0518 | 0.2123 | 0.0335 | 0.3524 | 0.0015 | 0.1209 | 0.0708 | 0.3327 |
XLF | 0.0248 | 0.1060 | 0.2361 | 0.3363 | 0.0064 | 0.0502 | 0.0510 | 0.2827 |
XLI | 0.1772 | 0.1298 | 0.1187 | 0.3645 | 0.1277 | 0.1010 | 0.0968 | 0.3205 |
XLK | 0.0788 | 0.0539 | 0.0823 | 0.3788 | 0.0269 | 0.0483 | 0.0781 | 0.2928 |
XLP | 0.0212 | 0.0320 | 0.0002 | 0.0515 | 0.0555 | 0.0818 | 0.1153 | 0.3746 |
XLU | 0.0985 | 0.1970 | 0.0026 | 0.1405 | 0.1331 | 0.0844 | 0.2153 | 0.2949 |
XLV | 0.0026 | 0.1199 | 0.0355 | 0.2565 | 0.0022 | 0.1505 | 0.0497 | 0.3636 |
XLY | 0.0979 | 0.0286 | 0.2210 | 0.2233 | 0.0903 | 0.0551 | 0.2754 | 0.3465 |