Global X Correlations

Etfs . USA . 
Etf . Global X Artificial
AIQ Etf  USD 38.69  0.19  0.49%   
The current 90-days correlation between Global X Artificial and First Trust Nasdaq is 0.9 (i.e., Almost no diversification). The correlation of Global X is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak. If the correlation is 0, the equities are not correlated; they are entirely random.

Global X Correlation With Market

Poor diversification

The correlation between Global X Artificial and DJI is 0.69 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Global X Artificial and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Global X Artificial. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in gross domestic product.

Moving together with Global Etf

  0.96VGT Vanguard InformationPairCorr
  0.95XLK Technology Select SectorPairCorr
  0.96IYW iShares Technology ETFPairCorr
  0.84SMH VanEck Semiconductor ETFPairCorr
  0.92CIBR First Trust NASDAQPairCorr
  0.96FTEC Fidelity MSCI InformationPairCorr
  0.84IGV iShares Expanded Tech Low VolatilityPairCorr
  0.93FDN First Trust DowPairCorr
  0.98IGM iShares Expanded TechPairCorr
  0.71DIG ProShares Ultra OilPairCorr
  0.88USD ProShares Ultra SemiPairCorr
  0.82YCS ProShares UltraShort YenPairCorr
  0.82TBT ProShares UltraShortPairCorr
  0.78ATMP Barclays ETN Select Low VolatilityPairCorr
  0.63AMZA InfraCap MLP ETFPairCorr
  0.92AXP American Express Fiscal Year End 24th of January 2025 PairCorr
  0.73BAC Bank of America Fiscal Year End 10th of January 2025 PairCorr
  0.87HD Home DepotPairCorr
  0.8WMT Walmart Aggressive PushPairCorr
  0.76XOM Exxon Mobil Corp Sell-off TrendPairCorr
  0.93CAT Caterpillar Fiscal Year End 3rd of February 2025 PairCorr
  0.7DIS Walt DisneyPairCorr
  0.69T ATT Inc Aggressive PushPairCorr
  0.63GE GE Aerospace Fiscal Year End 28th of January 2025 PairCorr

Moving against Global Etf

  0.72NRGU Bank Of MontrealPairCorr
  0.79MRK Merck Company Fiscal Year End 6th of February 2025 PairCorr
  0.71BA Boeing Fiscal Year End 29th of January 2025 PairCorr
  0.67KO Coca Cola Aggressive PushPairCorr
  0.59PG Procter GamblePairCorr
  0.5PFE Pfizer Inc Aggressive PushPairCorr

Related Correlations Analysis

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.
High positive correlations   
BOTZ
+ 0.97
ROBT
SNSR
+ 0.92
BOTZ
SNSR
+ 0.91
ROBT
FINX
+ 0.89
ROBT
FINX
+ 0.79
BOTZ
SNSR
+ 0.68
FINX
  
High negative correlations   
FINX
- 0.63
IRBO
IRBO
- 0.5
ROBT
BOTZ
- 0.43
IRBO
SNSR
- 0.29
IRBO

Global X Constituents Risk-Adjusted Indicators

There is a big difference between Global Etf performing well and Global X 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 Global X'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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