Global X Correlations

CTEC Etf

USD 61.36 1.89 2.99%

The current 90-days correlation between Global X CleanTech and Sprott Lithium Miners is 0.27 (i.e., Modest 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

Very weak diversification

The correlation between Global X CleanTech and DJI is 0.42 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Global X CleanTech 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 CleanTech. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in real.

Moving together with Global Etf

0.68	INFL	Horizon Kinetics Inf	Pair Corr
0.89	PBD	Invesco Global Clean	Pair Corr
0.62	CBSE	Elevation Series Trust	Pair Corr
0.76	USD	ProShares Ultra Semi	Pair Corr
0.63	INTC	Intel Aggressive Push	Pair Corr

Moving against Global Etf

0.56	GXTG	Global X Thematic Symbol Change	Pair Corr
0.61	TRV	The Travelers Companies	Pair Corr
0.36	CSCO	Cisco Systems Sell-off Trend	Pair Corr
0.33	T	ATT Inc Earnings Call This Week	Pair Corr

Related Correlations Analysis

	ITDG	BTR	JMID	RNRG	LFEQ	CDEI	HFGM	FLOW	MART	LITP
ITDG		0.98	0.8	0.85	0.93	0.81	0.92	0.84	0.96	0.82	ITDG
BTR	0.98		0.78	0.83	0.88	0.77	0.9	0.87	0.96	0.86	BTR
JMID	0.8	0.78		0.57	0.87	0.7	0.68	0.64	0.72	0.47	JMID
RNRG	0.85	0.83	0.57		0.67	0.49	0.95	0.54	0.74	0.74	RNRG
LFEQ	0.93	0.88	0.87	0.67		0.92	0.78	0.8	0.91	0.62	LFEQ
CDEI	0.81	0.77	0.7	0.49	0.92		0.6	0.8	0.86	0.59	CDEI
HFGM	0.92	0.9	0.68	0.95	0.78	0.6		0.64	0.83	0.79	HFGM
FLOW	0.84	0.87	0.64	0.54	0.8	0.8	0.64		0.93	0.8	FLOW
MART	0.96	0.96	0.72	0.74	0.91	0.86	0.83	0.93		0.85	MART
LITP	0.82	0.86	0.47	0.74	0.62	0.59	0.79	0.8	0.85		LITP
	ITDG	BTR	JMID	RNRG	LFEQ	CDEI	HFGM	FLOW	MART	LITP

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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
ITDG	0.52	0.02	0.01	0.06	0.73	(0.48)	1.02	(1.24)	2.94
BTR	0.49	0.01	0.01	0.06	0.54	(0.54)	0.93	(0.93)	2.58
JMID	0.72	(0.10)	0.00	(0.07)	0.00	0.00	1.33	(1.72)	3.46
RNRG	0.68	0.10	0.09	0.23	0.72	(0.75)	1.50	(1.37)	4.06
LFEQ	0.52	(0.02)	(0.03)	0.01	0.78	(0.46)	0.91	(1.23)	3.72
CDEI	0.51	(0.01)	(0.03)	0.02	0.71	(0.52)	1.07	(1.19)	3.63
HFGM	1.18	0.11	0.07	0.13	1.67	(1.24)	2.31	(2.40)	6.28
FLOW	0.67	0.02	0.02	0.06	0.81	(0.69)	1.81	(1.46)	4.12
MART	0.23	0.01	(0.02)	0.07	0.30	(0.23)	0.56	(0.55)	1.93
LITP	2.73	0.52	0.14	0.57	3.20	(2.77)	5.82	(4.93)	14.44

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