Global X Correlations

ALTY Etf

USD 11.94 0.08 0.67%

The current 90-days correlation between Global X Alternative and First Trust Multi Asset is 0.38 (i.e., Weak 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

Very weak diversification

The correlation between Global X Alternative and DJI is 0.43 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Global X Alternative 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 Alternative. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in estimate.

Moving together with Global Etf

0.75	NTSX	WisdomTree 9060 Balanced	Pair Corr
0.79	MDIV	First Trust Multi	Pair Corr
0.82	CVY	Invesco Zacks Multi	Pair Corr
0.83	HIPS	GraniteShares HIPS High	Pair Corr
0.81	MAPP	Harbor ETF Trust	Pair Corr
0.73	EVUS	iShares ESG Aware	Pair Corr
0.68	XOP	SPDR SP Oil	Pair Corr
0.78	VBK	Vanguard Small Cap	Pair Corr
0.81	CEFS	Saba Closed End	Pair Corr
0.71	ITAN	Alpha Architect ETF	Pair Corr
0.68	VIOV	Vanguard SP Small	Pair Corr
0.77	LCF	Touchstone ETF Trust	Pair Corr
0.78	EZM	WisdomTree MidCap	Pair Corr
0.67	RFDA	RiverFront Dynamic	Pair Corr

Moving against Global Etf

0.48	BITI	ProShares Trust	Pair Corr
0.37	GREI	Goldman Sachs Future	Pair Corr

Related Correlations Analysis

	MDIV	MFUL	DRAI	DRSK	DSCF	DUKQ	MPAY	MPRO	DWAT
MDIV		0.91	0.58	0.34	0.78	0.78	0.4	0.74	0.78	MDIV
MFUL	0.91		0.65	0.49	0.79	0.91	0.56	0.7	0.84	MFUL
DRAI	0.58	0.65		0.67	0.81	0.53	0.44	0.69	0.66	DRAI
DRSK	0.34	0.49	0.67		0.53	0.57	0.65	0.34	0.57	DRSK
DSCF	0.78	0.79	0.81	0.53		0.55	0.28	0.93	0.74	DSCF
DUKQ	0.78	0.91	0.53	0.57	0.55		0.75	0.42	0.82	DUKQ
MPAY	0.4	0.56	0.44	0.65	0.28	0.75		0.07	0.64	MPAY
MPRO	0.74	0.7	0.69	0.34	0.93	0.42	0.07		0.68	MPRO
DWAT	0.78	0.84	0.66	0.57	0.74	0.82	0.64	0.68		DWAT
	MDIV	MFUL	DRAI	DRSK	DSCF	DUKQ	MPAY	MPRO	DWAT

Click cells to compare fundamentals

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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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
MDIV	0.38	0.00	(0.16)	0.03	0.51	(0.39)	0.69	(0.68)	2.84
MFUL	0.17	0.00	(0.36)	0.06	0.16	(0.22)	0.32	(0.28)	1.34
DRAI	0.73	(0.03)	0.00	(0.10)	0.00	0.00	1.36	(1.18)	6.91
DRSK	0.40	(0.01)	(0.17)	0.00	0.48	(0.47)	1.05	(0.89)	2.33
DSCF	0.28	(0.02)	(0.23)	(0.08)	0.41	(0.26)	0.66	(0.66)	2.13
DUKQ	0.63	0.03	(0.02)	0.17	0.84	(0.64)	1.36	(1.33)	6.18
MPAY	0.63	0.02	(0.04)	0.16	0.87	(0.68)	1.14	(1.31)	4.64
MPRO	0.37	(0.05)	0.00	(0.11)	0.00	0.00	0.73	(0.68)	2.39
DWAT	0.65	0.00	(0.07)	0.08	0.85	(0.70)	1.22	(1.57)	6.38

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