Cross-asset · 23 assets · 60-day returns
Macro Correlations & Relative Strength
Cross-asset view across S&P sector ETFs, major indices, commodities, and crypto -- for the whole-market breadth and sector-breadth breakdowns, see the home page and distribution.
Last updated: Oct 28, 2026, 7:40 AM UTC
Asset Correlation Matrix
23 assets, 60-day returnsHow closely each sector, index, commodity, and crypto asset has moved together over the last 60 trading days. Green = move together, red = move opposite.
Move togetherPositive trendNeutralSlight divergenceInverse
Scroll the matrix sideways →
Sector | Index | Commodity | Crypto | ||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| XLB | XLC | XLE | XLF | XLI | XLK | XLP | XLRE | XLU | XLV | XLY | DIA | IWM | QQQ | SPY | GLD | SLV | UNG | USO | BTC | ETH | SOL | XRP | |
| XLB | — | 0.14 | -0.05 | 0.36 | 0.43 | -0.02 | 0.38 | 0.35 | 0.17 | 0.37 | 0.54 | 0.59 | 0.54 | 0.17 | 0.36 | 0.49 | 0.46 | 0.04 | -0.27 | 0.15 | 0.20 | 0.14 | 0.16 |
| XLC | 0.14 | — | -0.19 | 0.37 | 0.02 | 0.02 | 0.19 | 0.20 | -0.07 | 0.20 | 0.48 | 0.38 | 0.29 | 0.27 | 0.43 | 0.04 | 0.06 | 0.13 | -0.22 | 0.25 | 0.21 | 0.17 | 0.25 |
| XLE | -0.05 | -0.19 | — | 0.02 | -0.12 | -0.29 | 0.03 | -0.12 | -0.02 | -0.16 | -0.34 | -0.28 | -0.32 | -0.35 | -0.31 | -0.14 | -0.08 | 0.08 | 0.65 | -0.29 | -0.23 | -0.24 | -0.26 |
| XLF | 0.36 | 0.37 | 0.02 | — | 0.41 | -0.12 | 0.45 | 0.52 | 0.27 | 0.37 | 0.47 | 0.76 | 0.35 | 0.04 | 0.39 | 0.26 | 0.18 | -0.11 | -0.17 | 0.11 | 0.02 | 0.11 | 0.09 |
| XLI | 0.43 | 0.02 | -0.12 | 0.41 | — | 0.46 | 0.01 | 0.34 | 0.34 | -0.10 | 0.44 | 0.63 | 0.60 | 0.53 | 0.62 | 0.39 | 0.41 | -0.17 | -0.42 | 0.18 | 0.16 | 0.22 | 0.15 |
| XLK | -0.02 | 0.02 | -0.29 | -0.12 | 0.46 | — | -0.61 | -0.03 | -0.06 | -0.35 | 0.25 | 0.37 | 0.60 | 0.95 | 0.81 | 0.31 | 0.50 | -0.08 | -0.45 | 0.32 | 0.22 | 0.31 | 0.23 |
| XLP | 0.38 | 0.19 | 0.03 | 0.45 | 0.01 | -0.61 | — | 0.44 | 0.34 | 0.54 | 0.27 | 0.35 | 0.02 | -0.41 | -0.12 | -0.11 | -0.27 | 0.01 | -0.11 | -0.20 | -0.11 | -0.12 | -0.10 |
| XLRE | 0.35 | 0.20 | -0.12 | 0.52 | 0.34 | -0.03 | 0.44 | — | 0.55 | 0.29 | 0.43 | 0.52 | 0.40 | 0.06 | 0.30 | 0.26 | 0.25 | -0.09 | -0.21 | 0.15 | 0.18 | 0.06 | 0.17 |
| XLU | 0.17 | -0.07 | -0.02 | 0.27 | 0.34 | -0.06 | 0.34 | 0.55 | — | 0.01 | 0.15 | 0.21 | 0.20 | -0.08 | 0.07 | 0.04 | 0.01 | -0.06 | -0.16 | -0.18 | -0.11 | -0.07 | -0.12 |
| XLV | 0.37 | 0.20 | -0.16 | 0.37 | -0.10 | -0.35 | 0.54 | 0.29 | 0.01 | — | 0.39 | 0.43 | 0.17 | -0.17 | 0.08 | 0.23 | 0.10 | 0.15 | -0.14 | 0.13 | 0.21 | 0.13 | 0.09 |
| XLY | 0.54 | 0.48 | -0.34 | 0.47 | 0.44 | 0.25 | 0.27 | 0.43 | 0.15 | 0.39 | — | 0.70 | 0.57 | 0.43 | 0.65 | 0.44 | 0.38 | 0.03 | -0.44 | 0.35 | 0.38 | 0.34 | 0.34 |
| DIA | 0.59 | 0.38 | -0.28 | 0.76 | 0.63 | 0.37 | 0.35 | 0.52 | 0.21 | 0.43 | 0.70 | — | 0.66 | 0.47 | 0.76 | 0.43 | 0.41 | -0.12 | -0.48 | 0.29 | 0.23 | 0.28 | 0.23 |
| IWM | 0.54 | 0.29 | -0.32 | 0.35 | 0.60 | 0.60 | 0.02 | 0.40 | 0.20 | 0.17 | 0.57 | 0.66 | — | 0.67 | 0.74 | 0.42 | 0.52 | 0.02 | -0.44 | 0.31 | 0.30 | 0.30 | 0.27 |
| QQQ | 0.17 | 0.27 | -0.35 | 0.04 | 0.53 | 0.95 | -0.41 | 0.06 | -0.08 | -0.17 | 0.43 | 0.47 | 0.67 | — | 0.90 | 0.34 | 0.52 | -0.04 | -0.54 | 0.40 | 0.30 | 0.37 | 0.31 |
| SPY | 0.36 | 0.43 | -0.31 | 0.39 | 0.62 | 0.81 | -0.12 | 0.30 | 0.07 | 0.08 | 0.65 | 0.76 | 0.74 | 0.90 | — | 0.42 | 0.54 | -0.03 | -0.55 | 0.40 | 0.32 | 0.39 | 0.32 |
| GLD | 0.49 | 0.04 | -0.14 | 0.26 | 0.39 | 0.31 | -0.11 | 0.26 | 0.04 | 0.23 | 0.44 | 0.43 | 0.42 | 0.34 | 0.42 | — | 0.88 | 0.00 | -0.19 | 0.48 | 0.47 | 0.43 | 0.38 |
| SLV | 0.46 | 0.06 | -0.08 | 0.18 | 0.41 | 0.50 | -0.27 | 0.25 | 0.01 | 0.10 | 0.38 | 0.41 | 0.52 | 0.52 | 0.54 | 0.88 | — | 0.01 | -0.19 | 0.51 | 0.46 | 0.49 | 0.43 |
| UNG | 0.04 | 0.13 | 0.08 | -0.11 | -0.17 | -0.08 | 0.01 | -0.09 | -0.06 | 0.15 | 0.03 | -0.12 | 0.02 | -0.04 | -0.03 | 0.00 | 0.01 | — | 0.13 | -0.09 | -0.10 | 0.05 | -0.04 |
| USO | -0.27 | -0.22 | 0.65 | -0.17 | -0.42 | -0.45 | -0.11 | -0.21 | -0.16 | -0.14 | -0.44 | -0.48 | -0.44 | -0.54 | -0.55 | -0.19 | -0.19 | 0.13 | — | -0.23 | -0.17 | -0.24 | -0.21 |
| BTC | 0.15 | 0.25 | -0.29 | 0.11 | 0.18 | 0.32 | -0.20 | 0.15 | -0.18 | 0.13 | 0.35 | 0.29 | 0.31 | 0.40 | 0.40 | 0.48 | 0.51 | -0.09 | -0.23 | — | 0.93 | 0.85 | 0.90 |
| ETH | 0.20 | 0.21 | -0.23 | 0.02 | 0.16 | 0.22 | -0.11 | 0.18 | -0.11 | 0.21 | 0.38 | 0.23 | 0.30 | 0.30 | 0.32 | 0.47 | 0.46 | -0.10 | -0.17 | 0.93 | — | 0.89 | 0.88 |
| SOL | 0.14 | 0.17 | -0.24 | 0.11 | 0.22 | 0.31 | -0.12 | 0.06 | -0.07 | 0.13 | 0.34 | 0.28 | 0.30 | 0.37 | 0.39 | 0.43 | 0.49 | 0.05 | -0.24 | 0.85 | 0.89 | — | 0.86 |
| XRP | 0.16 | 0.25 | -0.26 | 0.09 | 0.15 | 0.23 | -0.10 | 0.17 | -0.12 | 0.09 | 0.34 | 0.23 | 0.27 | 0.31 | 0.32 | 0.38 | 0.43 | -0.04 | -0.21 | 0.90 | 0.88 | 0.86 | — |
Most Correlated
1XLK ↔ QQQ
0.95
2BTC ↔ ETH
0.93
3QQQ ↔ SPY
0.90
4BTC ↔ XRP
0.90
5ETH ↔ SOL
0.89
6GLD ↔ SLV
0.88
7ETH ↔ XRP
0.88
8SOL ↔ XRP
0.86
Most Inverse
1XLK ↔ XLP
-0.61
2SPY ↔ USO
-0.55
3QQQ ↔ USO
-0.54
4DIA ↔ USO
-0.48
5XLK ↔ USO
-0.45
6XLY ↔ USO
-0.44
7IWM ↔ USO
-0.44
8XLI ↔ USO
-0.42
S&P 500 Correlation Leaderboard →
Most and least correlated pairs across all 498 S&P 500 stocks with price history.
123,253pairs scoredtop pair KMB ↔ KVUE 0.98
Nasdaq-100 Correlation Leaderboard →
Most and least correlated pairs across Nasdaq-100 constituents with price history.
4,185pairs scoredtop pair CRWD ↔ PANW 0.91
Relative Strength Leaderboard
23 assetsSectors, indices, commodities, and crypto ranked by trend strength vs. their own 200-day MA and peers -- not total return, so a top rank means trending furthest above its own MA, not necessarily the best-performing asset over any fixed period.
Sectors
11 assets- 2XLEEnergy+17.0%Very StrongTop 5%
- 4XLVHealthcare+13.5%Very StrongTop 14%
- 5XLKTechnology+12.9%Very StrongTop 18%
- 10XLFFinancials+4.5%Moderate59th percentile
- 13XLPConsumer Staples+2.9%Moderate45th percentile
- 14XLBMaterials+1.6%Moderate41st percentile
- 16XLYConsumer Discretionary-0.3%Weak32nd percentile
- 18XLIIndustrials-2.8%Very WeakBottom 23%
- 18XLREReal Estate-2.8%Very WeakBottom 23%
- 19XLUUtilities-4.1%Very WeakBottom 18%
- 20XLCCommunication Services-8.8%Very WeakBottom 14%
Indices
4 assets- 8QQQNasdaq-100+6.3%Strong68th percentile
- 9SPYS&P 500+5.8%Strong64th percentile
- 12DIADow Jones+3.5%Moderate50th percentile
- 15IWMRussell 2000+0.6%Weak36th percentile
Commodities
4 assets- 1USOOil+33.7%Very StrongTop 1%
- 21GLDGold-10.0%Very WeakBottom 9%
- 22UNGNatural Gas-14.1%Very WeakBottom 5%
- 23SLVSilver-24.1%Very WeakBottom 1%
Crypto
4 assets- 3SOLSolana+14.3%Very StrongTop 9%
- 6BTCBitcoin+10.7%Very StrongTop 23%
- 7ETHEthereum+8.7%Strong73rd percentile
- 11XRPXRP+3.9%Moderate55th percentile
About This Data
- Correlation is computed on daily returns over the trailing ~60 trading days, aligned by calendar date across assets (crypto trades every day; equities only on trading days).
- Relative strength ranks each asset by its own trend vs. its 200-day moving average, relative to the full sector/index/commodity/crypto universe -- not to individual stocks.
