Global X Correlations

CTEK Etf

6.67 0.21 3.05%

The current 90-days correlation between Global X CleanTech and iShares Corp Bond is -0.02 (i.e., Good 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

Poor diversification

The correlation between Global X CleanTech and DJI is 0.69 (i.e., Poor 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.

The ability to find closely correlated positions to Global X could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Global X when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Global X - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Global X CleanTech to buy it.

Moving together with Global Etf

0.77	AUCO	LG Gold Mining	Pair Corr
0.75	GGMUSY	UBS ETF plc	Pair Corr
0.78	GDXJ	VanEck Junior Gold	Pair Corr
0.77	IAUP	iShares Gold Producers	Pair Corr
0.78	GDX	VanEck Gold Miners	Pair Corr
0.76	MAGB	Market Access NYSE	Pair Corr
0.84	SVUSA	UBS ETF Silver	Pair Corr
0.73	IFFF	iShares MSCI AC	Pair Corr
0.73	PLUSA	UBS ETF Palladium	Pair Corr
0.65	FLXK	Franklin FTSE Korea	Pair Corr
0.66	IKOR	iShares MSCI Korea	Pair Corr
0.75	RGLDS	Raiffeisen ETF Solid	Pair Corr
0.7	USFMA	UBS ETF plc	Pair Corr
0.72	IMEA	iShares Core MSCI	Pair Corr
0.78	ISWD	iShares MSCI World	Pair Corr
0.65	HYLC	iShares Global High	Pair Corr
0.73	CSSX5E	iShares VII PLC	Pair Corr
0.85	ZSILEU	ZKB Silver ETF	Pair Corr
0.76	ZGLDEU	ZKB Gold ETF	Pair Corr
0.77	INRG	iShares Global Clean	Pair Corr
0.69	DEM	WisdomTree Emerging	Pair Corr
0.76	ESGO	AuAg Gold Mining	Pair Corr
0.75	XESC	Xtrackers Euro Stoxx	Pair Corr
0.71	USVUSY	UBS ETF plc	Pair Corr
0.79	ACWIE	UBS MSCI ACWI	Pair Corr
0.72	SX5E	Invesco EURO STOXX	Pair Corr

Related Correlations Analysis

	IJPE	0P0001V8QX	PSCF	WKBN	EQAC	GLUG	AQWA	IU0A	HKDU	IEXF
IJPE		0.47	-0.5	0.93	-0.25	0.94	0.89	0.89	0.89	-0.83	IJPE
0P0001V8QX	0.47		-0.41	0.45	-0.39	0.57	0.63	0.34	0.44	-0.44	0P0001V8QX
PSCF	-0.5	-0.41		-0.47	0.44	-0.52	-0.51	-0.43	-0.49	0.58	PSCF
WKBN	0.93	0.45	-0.47		-0.14	0.89	0.8	0.93	0.94	-0.91	WKBN
EQAC	-0.25	-0.39	0.44	-0.14		-0.2	-0.26	-0.18	-0.11	0.28	EQAC
GLUG	0.94	0.57	-0.52	0.89	-0.2		0.95	0.84	0.86	-0.8	GLUG
AQWA	0.89	0.63	-0.51	0.8	-0.26	0.95		0.73	0.76	-0.71	AQWA
IU0A	0.89	0.34	-0.43	0.93	-0.18	0.84	0.73		0.89	-0.86	IU0A
HKDU	0.89	0.44	-0.49	0.94	-0.11	0.86	0.76	0.89		-0.91	HKDU
IEXF	-0.83	-0.44	0.58	-0.91	0.28	-0.8	-0.71	-0.86	-0.91		IEXF
	IJPE	0P0001V8QX	PSCF	WKBN	EQAC	GLUG	AQWA	IU0A	HKDU	IEXF

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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

AQWA	+ 0.95	GLUG
GLUG	+ 0.94	IJPE
HKDU	+ 0.94	WKBN
WKBN	+ 0.93	IJPE
IU0A	+ 0.93	WKBN
AQWA	+ 0.89	IJPE

High negative correlations

IEXF	- 0.91	HKDU
IEXF	- 0.91	WKBN
IEXF	- 0.86	IU0A
IEXF	- 0.83	IJPE
IEXF	- 0.8	GLUG
IEXF	- 0.71	AQWA

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
IJPE	0.59	0.25	0.23	1.25	0.00	(0.90)	1.91	(1.03)	4.36
0P0001V8QX	0.16	0.00	(0.29)	0.08	0.20	(0.17)	0.30	(0.31)	1.18
PSCF	0.41	(0.01)	(0.14)	(0.05)	0.53	(0.46)	0.97	(1.08)	3.00
WKBN	0.39	0.14	0.09	1.76	0.00	(0.65)	1.10	(0.72)	2.58
EQAC	0.72	(0.01)	(0.07)	0.03	0.96	(0.68)	1.45	(1.59)	4.06
GLUG	0.63	0.15	0.08	1.46	0.64	(0.76)	1.43	(1.51)	4.14
AQWA	0.53	0.09	0.03	0.58	0.50	(0.74)	1.62	(1.17)	3.88
IU0A	0.11	0.01	(0.32)	6.67	0.00	(0.19)	0.18	(0.18)	0.70
HKDU	0.79	0.19	0.12	(2.80)	0.67	(0.90)	1.73	(1.41)	4.57
IEXF	0.13	(0.05)	0.00	(1.06)	0.00	0.00	0.20	(0.35)	1.78

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Our tools can tell you how much better you can do entering a position in Global X without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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