Global X Correlations

CLIP Etf   100.46  0.02  0.02%   
The current 90-days correlation between Global X Funds and iShares Interest Rate is 0.13 (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

Good diversification

The correlation between Global X Funds and DJI is -0.2 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Global X Funds 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 Funds. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in gross domestic product.

Moving together with Global Etf

  1.0BIL SPDR Bloomberg 1PairCorr
  1.0SHV iShares Short TreasuryPairCorr
  0.97JPST JPMorgan Ultra ShortPairCorr
  1.0USFR WisdomTree Floating RatePairCorr
  0.99ICSH iShares Ultra ShortPairCorr
  0.99FTSM First Trust EnhancedPairCorr
  1.0SGOV iShares 0 3PairCorr
  1.0GBIL Goldman Sachs AccessPairCorr
  1.0TFLO iShares Treasury FloatingPairCorr
  0.99FLRN SPDR Bloomberg InvestmentPairCorr
  0.95SIXD AIM ETF ProductsPairCorr
  0.7CEFD ETRACS Monthly PayPairCorr
  0.96TSJA TSJAPairCorr
  0.97DSJA DSJAPairCorr
  0.77ETH Grayscale Ethereum MiniPairCorr
  0.95EOS Eaton Vance EnhancedPairCorr
  0.82INTC Intel Fiscal Year End 23rd of January 2025 PairCorr
  0.9AXP American Express Fiscal Year End 24th of January 2025 PairCorr
  0.85DIS Walt Disney Sell-off TrendPairCorr
  0.73HPQ HP IncPairCorr
  0.9WMT Walmart Aggressive PushPairCorr
  0.89CVX Chevron Corp Sell-off TrendPairCorr
  0.77HD Home DepotPairCorr
  0.9T ATT Inc Fiscal Year End 22nd of January 2025 PairCorr
  0.77CAT Caterpillar Fiscal Year End 3rd of February 2025 PairCorr
  0.81JPM JPMorgan Chase Sell-off TrendPairCorr

Moving against Global Etf

  0.95VIIX VIIXPairCorr
  0.9YCL ProShares Ultra YenPairCorr
  0.89ULE ProShares Ultra EuroPairCorr
  0.89FXY Invesco CurrencySharesPairCorr
  0.94MRK Merck Company Fiscal Year End 6th of February 2025 PairCorr
  0.9KO Coca Cola Aggressive PushPairCorr
  0.85JNJ Johnson Johnson Sell-off TrendPairCorr
  0.74BA Boeing Fiscal Year End 29th of January 2025 PairCorr

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   
JPMCRM
CRMT
XOMMETA
JPMF
XOMCRM
CRMMETA
  
High negative correlations   
MRKCRM
MRKJPM
MRKT
JPMA
XOMMRK
MRKMETA

Global X Competition 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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
META  1.07  0.07  0.02  0.23  1.41 
 2.62 
 8.02 
MSFT  0.90 (0.04)(0.05) 0.07  1.50 
 2.09 
 8.19 
UBER  1.61 (0.11)(0.04) 0.02  2.32 
 2.69 
 20.10 
F  1.42 (0.15)(0.04) 0.03  2.23 
 2.53 
 11.21 
T  0.92  0.26  0.12 (7.83) 0.86 
 2.56 
 6.47 
A  1.17 (0.09) 0.00 (0.06) 0.00 
 2.71 
 9.02 
CRM  1.31  0.23  0.18  0.34  1.08 
 3.18 
 9.98 
JPM  1.12 (0.04) 0.05  0.11  1.38 
 2.05 
 15.87 
MRK  0.91 (0.24) 0.00 (0.86) 0.00 
 2.00 
 4.89 
XOM  1.00 (0.03)(0.07) 0.06  1.31 
 2.10 
 5.74