Global X Correlations

Etfs . USA . 
Etf . Global X SP
CEFA Etf  USD 30.64  0.13  0.43%   
The current 90-days correlation between Global X SP and Global X SP is 0.34 (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.

Global X Correlation With Market

Modest diversification

The correlation between Global X SP and DJI is 0.25 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Global X SP 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 SP. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in census.

Moving together with Global Etf

  0.97VEA Vanguard FTSE DevelopedPairCorr
  0.97IEFA iShares Core MSCIPairCorr
  0.9VEU Vanguard FTSE AllPairCorr
  0.97EFA iShares MSCI EAFEPairCorr
  0.9IXUS iShares Core MSCIPairCorr
  0.97SPDW SPDR SP WorldPairCorr
  0.97IDEV iShares Core MSCIPairCorr
  0.97ESGD iShares ESG AwarePairCorr
  0.96JIRE JP Morgan ExchangePairCorr
  0.9DFAX Dimensional WorldPairCorr
  0.66GREI Goldman Sachs FuturePairCorr
  0.76MRK Merck Company Fiscal Year End 6th of February 2025 PairCorr
  0.66MMM 3M Company Fiscal Year End 28th of January 2025 PairCorr
  0.62JNJ Johnson Johnson Fiscal Year End 28th of January 2025 PairCorr
  0.83KO Coca Cola Sell-off TrendPairCorr

Moving against Global Etf

  0.76FNTC DirexionPairCorr
  0.61IGA Voya Global AdvantagePairCorr
  0.59MAGS Roundhill MagnificentPairCorr
  0.59PXMV Invesco SP MidCapPairCorr
  0.35IVH IVHPairCorr
  0.77BAC Bank of America Aggressive PushPairCorr
  0.75JPM JPMorgan Chase Sell-off TrendPairCorr
  0.71TRV The Travelers Companies Fiscal Year End 17th of January 2025 PairCorr
  0.69WMT Walmart Aggressive PushPairCorr
  0.69DIS Walt Disney Aggressive PushPairCorr
  0.63T ATT Inc Aggressive PushPairCorr
  0.61CVX Chevron Corp Sell-off TrendPairCorr
  0.59CSCO Cisco Systems Aggressive PushPairCorr
  0.51AXP American Express Fiscal Year End 24th of January 2025 PairCorr
  0.35HPQ HP IncPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

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   
KRMA
+ 0.98
CATH
EDUT
+ 0.62
CATH
KRMA
+ 0.57
EDUT
BFIT
+ 0.25
EDUT
  
High negative correlations   
EFAS
- 0.75
CATH
KRMA
- 0.68
EFAS
EFAS
- 0.59
EDUT
KRMA
- 0.23
BFIT
BFIT
- 0.2
CATH
BFIT
- 0.03
EFAS

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.

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions
 
Feedback Blog
Made with optimal in San Francisco
2024 Macroaxis LLC
COMMON DESTINATIONS
MAIN CATEGORIES
COMPANY