Global X Correlations

BUG Etf

USD 36.60 0.14 0.38%

The current 90-days correlation between Global X Cybersecurity and iShares Cybersecurity and is 0.89 (i.e., Very 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

Modest diversification

The correlation between Global X Cybersecurity and DJI is 0.29 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Global X Cybersecurity 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 Cybersecurity. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in employment.

Moving together with Global Etf

0.81	CIBR	First Trust NASDAQ	Pair Corr
0.75	IGV	iShares Expanded Tech	Pair Corr
0.73	FDN	First Trust Dow	Pair Corr
0.63	IGM	iShares Expanded Tech	Pair Corr
0.93	MAPP	Harbor ETF Trust	Pair Corr
0.81	HART	IQ Healthy Hearts	Pair Corr
0.66	CSCO	Cisco Systems Aggressive Push	Pair Corr
0.66	JNJ	Johnson Johnson	Pair Corr
0.89	T	ATT Inc Aggressive Push	Pair Corr
0.68	JPM	JPMorgan Chase	Pair Corr
0.7	GE	GE Aerospace Sell-off Trend	Pair Corr
0.75	WMT	Walmart Earnings Call This Week	Pair Corr
0.66	MCD	McDonalds	Pair Corr

Moving against Global Etf

0.63

MRK

Merck Company

Pair Corr

Related Correlations Analysis

	IHAK	CIBR	CLOU	HACK	WCLD
IHAK		0.76	0.71	0.71	0.77	IHAK
CIBR	0.76		0.78	0.99	0.69	CIBR
CLOU	0.71	0.78		0.79	0.96	CLOU
HACK	0.71	0.99	0.79		0.68	HACK
WCLD	0.77	0.69	0.96	0.68		WCLD
	IHAK	CIBR	CLOU	HACK	WCLD

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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
IHAK	0.84	0.05	0.04	0.10	1.10	(0.88)	1.70	(1.33)	6.15
CIBR	0.97	0.17	0.12	0.33	1.18	(0.97)	2.10	(1.98)	6.89
CLOU	1.15	0.19	0.13	0.27	1.23	(1.28)	2.43	(2.08)	8.82
HACK	1.00	0.16	0.10	0.32	1.27	(0.96)	2.30	(2.27)	7.41
WCLD	1.30	0.15	0.09	0.19	1.48	(1.38)	2.65	(2.48)	8.71

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