Global X Correlations

Etfs . USA . 
Etf . Global X Clean
AQWA Etf  USD 17.30  0.06  0.35%   
The current 90-days correlation between Global X Clean and Ecofin Global Water is 0.06 (i.e., Significant 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.

Global X Correlation With Market

Average diversification

The correlation between Global X Clean and DJI is 0.15 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Global X Clean 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 Clean. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in housing.

Moving together with Global Etf

  0.73EV Mast Global BatteryPairCorr
  0.88XLB Materials Select SectorPairCorr
  0.87VAW Vanguard Materials IndexPairCorr
  0.92XME SPDR SP MetalsPairCorr
  0.97PHO Invesco Water ResourcesPairCorr
  0.75MOO VanEck Agribusiness ETFPairCorr
  0.86FXZ First Trust MaterialsPairCorr
  0.96FIW First Trust WaterPairCorr
  0.76URNM Sprott Uranium MinersPairCorr
  0.87IYM iShares Basic MaterialsPairCorr
  0.75PMBS PIMCO Mortgage Backed Sell-off TrendPairCorr
  0.61WGMI Valkyrie Bitcoin MinersPairCorr
  0.62HD Home DepotPairCorr
  0.83VZ Verizon CommunicationsPairCorr
  0.71CAT Caterpillar Earnings Call This WeekPairCorr
  0.9DD Dupont De Nemours Earnings Call This WeekPairCorr
  0.77HPQ HP IncPairCorr
  0.66INTC IntelPairCorr
  0.71XOM Exxon Mobil Corp Fiscal Year End 7th of February 2025 PairCorr

Moving against Global Etf

  0.72RSPY Tuttle Capital ManagementPairCorr
  0.69DSJA DSJAPairCorr
  0.67MEME Roundhill InvestmentsPairCorr
  0.52AMPD Tidal Trust IIPairCorr
  0.67BA BoeingPairCorr
  0.35PFE Pfizer Inc Earnings Call This WeekPairCorr

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   
AGNG
+ 0.8
KROP
FIW
+ 0.69
KROP
AGNG
+ 0.65
RNRG
AGNG
+ 0.63
FIW
FIW
+ 0.46
RNRG
KROP
+ 0.28
RNRG
  
High negative correlations   
RNRG
- 0.73
EBLU
AGNG
- 0.33
EBLU
FIW
- 0.14
EBLU
KROP
- 0.03
EBLU

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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