High Correlation Stock Scalps For February 11

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By Stock Scalper | Published 02/8/2013 | Stocks | Unrated

High Correlation Stock Scalps For February 11

If the stock market can move sectors and stocks, which sectors and stocks are most likely to move in step with the stock market? Sectors and individual stocks most highly correlated to the overall market can use the S&P 500 SPDR ETF (SPY) as a directional indicator.

The following sectors are most correlated the S&P 500 SPDR ETF (SPY).

XLI Industrial Select Sector SPDR Fund
XLY Consumer Discretionary Sector SPDR Fund
XLV Health Care Select Sector SPDR Fund
XLK Technology Select Sector SPDR Fund
XLE Energy Select Sector SPDR Fund

The following individual stocks are most correlated the S&P 500 SPDR ETF (SPY).

MDT Medtronic Inc
GOOG Google Inc
JPM JPMorgan Chase & Co
JNJ Johnson and Johnson
UPS United Parcel Service Inc
USB US Bancorp
PM Philip Morris International Inc

Dave Mecklenburg is the Editor-in-Chief of TigerSharkTrading.com.

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