Global X Correlations

BOTZ Etf

USD 38.36 0.22 0.58%

The current 90-days correlation between Global X Robotics and VanEck UraniumNuclear Energy is 0.15 (i.e., Average 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 poor diversification

The correlation between Global X Robotics and DJI is 0.86 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Global X Robotics and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Global Etf

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Global X Robotics. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in persons.

Moving together with Global Etf

0.65	ICLN	iShares Global Clean	Pair Corr
0.93	XT	iShares Exponential	Pair Corr
0.66	TAN	Invesco Solar ETF	Pair Corr
0.88	QCLN	First Trust NASDAQ	Pair Corr
0.88	DRIV	Global X Autonomous	Pair Corr
0.73	ACES	ALPS Clean Energy	Pair Corr
0.75	USD	ProShares Ultra Semi	Pair Corr
0.7	AGQ	ProShares Ultra Silver	Pair Corr
0.83	DFEN	Direxion Daily Aerospace	Pair Corr
0.65	DGP	DB Gold Double	Pair Corr
0.65	UGL	ProShares Ultra Gold	Pair Corr
0.71	NUGT	Direxion Daily Gold	Pair Corr
0.75	URNM	Sprott Uranium Miners	Pair Corr
0.72	IBMR	iShares Trust	Pair Corr
0.82	OASC	OneAscent Small Cap	Pair Corr
0.82	SPMD	SPDR Russell Small Sell-off Trend	Pair Corr
0.77	SEIX	Virtus ETF Trust	Pair Corr
0.92	VBK	Vanguard Small Cap	Pair Corr
0.79	BBEU	JPMorgan BetaBuilders	Pair Corr
0.75	AHYB	American Century ETF	Pair Corr
0.85	MART	Allianzim Large Cap	Pair Corr
0.63	GSIG	Goldman Sachs Access	Pair Corr
0.74	BINC	BlackRock ETF Trust	Pair Corr
0.81	GAPR	First Trust Exchange	Pair Corr
0.66	IAUM	iShares Gold Trust	Pair Corr

Moving against Global Etf

0.65

FNGU

MicroSectors FANG Index Symbol Change

Pair Corr

Related Correlations Analysis

	SIL	XYLD	ACWV	IXJ	ILCG	ITB	NFRA	USRT	IMCG	NLR
SIL		0.91	0.75	0.8	0.26	0.64	0.61	0.58	0.77	0.7	SIL
XYLD	0.91		0.73	0.86	0.35	0.6	0.64	0.52	0.74	0.53	XYLD
ACWV	0.75	0.73		0.78	0.02	0.64	0.83	0.8	0.57	0.51	ACWV
IXJ	0.8	0.86	0.78		0.11	0.59	0.5	0.57	0.56	0.37	IXJ
ILCG	0.26	0.35	0.02	0.11		0.09	0.04	-0.04	0.67	0.35	ILCG
ITB	0.64	0.6	0.64	0.59	0.09		0.47	0.79	0.68	0.56	ITB
NFRA	0.61	0.64	0.83	0.5	0.04	0.47		0.67	0.48	0.54	NFRA
USRT	0.58	0.52	0.8	0.57	-0.04	0.79	0.67		0.6	0.57	USRT
IMCG	0.77	0.74	0.57	0.56	0.67	0.68	0.48	0.6		0.75	IMCG
NLR	0.7	0.53	0.51	0.37	0.35	0.56	0.54	0.57	0.75		NLR
	SIL	XYLD	ACWV	IXJ	ILCG	ITB	NFRA	USRT	IMCG	NLR

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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

XYLD	+ 0.91	SIL
IXJ	+ 0.86	XYLD
NFRA	+ 0.83	ACWV
IXJ	+ 0.8	SIL
USRT	+ 0.8	ACWV
USRT	+ 0.79	ITB

High negative correlations

USRT

- 0.04

ILCG

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
SIL	2.50	0.70	0.19	0.54	3.15	(2.76)	5.83	(5.29)	21.02
XYLD	0.24	0.04	(0.03)	0.22	0.08	(0.26)	0.80	(0.44)	2.15
ACWV	0.33	0.04	(0.04)	0.20	0.21	(0.38)	0.84	(0.60)	1.82
IXJ	0.69	0.08	0.07	0.20	0.51	(0.80)	1.93	(1.16)	3.76
ILCG	0.76	(0.11)	0.00	(0.04)	0.00	0.00	1.29	(1.86)	4.76
ITB	1.29	0.03	0.05	0.12	1.09	(1.72)	4.22	(2.13)	8.51
NFRA	0.47	0.09	0.00	(18.72)	0.42	(0.54)	1.02	(0.90)	2.22
USRT	0.57	0.05	(0.01)	0.23	0.58	(0.55)	1.51	(1.03)	3.24
IMCG	0.75	(0.05)	(0.05)	0.04	0.92	(0.75)	1.45	(1.78)	3.40
NLR	2.40	(0.02)	(0.02)	0.03	3.19	(2.35)	4.84	(5.39)	13.50

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