Global X Correlations

Etfs . USA . 
Etf . Global X Blockchain
BKCH Etf  USD 65.28  1.10  1.66%   
The current 90-days correlation between Global X Blockchain and Vanguard Industrials Index is 0.64 (i.e., Poor 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

Poor diversification

The correlation between Global X Blockchain and DJI is 0.64 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Global X Blockchain 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 Blockchain. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in main economic indicators.

Moving together with Global Etf

  0.91XLF Financial Select SectorPairCorr
  0.92VFH Vanguard Financials IndexPairCorr
  0.91KRE SPDR SP RegionalPairCorr
  0.91KBE SPDR SP BankPairCorr
  0.92IYF iShares Financials ETFPairCorr
  0.92FNCL Fidelity MSCI FinancialsPairCorr
  0.92IYG iShares FinancialPairCorr
  0.92FXO First Trust FinancialsPairCorr
  0.92IAT iShares Regional BanksPairCorr
  0.65SPAQ Horizon Kinetics SPACPairCorr
  0.79PULS PGIM Ultra ShortPairCorr
  0.64MPAY Akros Monthly PayoutPairCorr
  0.87BUFF Innovator LadderedPairCorr
  0.87SPY SPDR SP 500PairCorr
  0.81PPA Invesco Aerospace DefensePairCorr
  0.75INTC Intel Fiscal Year End 23rd of January 2025 PairCorr
  0.71HPQ HP IncPairCorr
  0.74TRV The Travelers Companies Fiscal Year End 17th of January 2025 PairCorr
  0.79AA Alcoa Corp Fiscal Year End 15th of January 2025 PairCorr
  0.8AXP American Express Fiscal Year End 24th of January 2025 PairCorr

Moving against Global Etf

  0.96BITI ProShares TrustPairCorr
  0.65GREI Goldman Sachs FuturePairCorr
  0.87KO Coca Cola Aggressive PushPairCorr
  0.81JNJ Johnson Johnson Fiscal Year End 28th of January 2025 PairCorr
  0.78PFE Pfizer Inc Fiscal Year End 4th of February 2025 PairCorr
  0.55PG Procter GamblePairCorr
  0.33VZ Verizon Communications 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   
VCR
+ 0.92
VIS
VAW
+ 0.78
VIS
VDC
+ 0.58
VHT
VAW
+ 0.57
VCR
  
High negative correlations   
VHT
- 0.72
VCR
VHT
- 0.62
VIS
VDC
- 0.3
VIS
VDC
- 0.26
VCR
VHT
- 0.21
VAW
VDC
- 0.08
VAW

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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