Global X Correlations

EDOCDelisted Etf

USD 9.45 0.12 1.29%

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

Good diversification

The correlation between Global X and DJI is -0.01 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Global X and DJI in the same portfolio, assuming nothing else is changed.

Check out Investing Opportunities to better understand how to build diversified portfolios. 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

0.61

IHI

iShares Medical Devices

Pair Corr

Moving against Global Etf

0.31	AIVI	WisdomTree International	Pair Corr
0.31	PCLN	2023 ETF	Pair Corr
0.55	DOGG	First Trust Exchange	Pair Corr
0.45	EMES	Harbor ETF Trust	Pair Corr
0.44	QLV	FlexShares Quality Low	Pair Corr
0.38	LUX	Tema Global	Pair Corr
0.37	GPT	Intelligent Alpha Atlas Symbol Change	Pair Corr
0.35	FNDC	Schwab Fundamental	Pair Corr
0.32	GENW	Spinnaker ETF Series	Pair Corr
0.64	XLU	Utilities Select Sector Aggressive Push	Pair Corr
0.46	SCDV	ETF Series Solutions	Pair Corr
0.37	LVHI	Franklin International	Pair Corr
0.35	PCEM	Litman Gregory Funds	Pair Corr
0.34	XFIX	Fm Investments Symbol Change	Pair Corr
0.33	CHPS	Xtrackers Semiconductor	Pair Corr

Related Correlations Analysis

	IUSS	ABLG	ROOF	RINC	SMCP	CLSA	MDCP	QQQN	TPMN	ADRD
IUSS		0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	IUSS
ABLG	0.0		0.0	0.71	0.0	0.0	-0.7	0.0	0.8	0.0	ABLG
ROOF	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	0.0	ROOF
RINC	0.0	0.71	0.0		0.0	0.0	-0.7	0.0	0.73	0.0	RINC
SMCP	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	SMCP
CLSA	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	CLSA
MDCP	0.0	-0.7	0.0	-0.7	0.0	0.0		0.0	-0.67	0.0	MDCP
QQQN	0.0	0.0	0.0	0.0	0.0	0.0	0.0		0.0	0.0	QQQN
TPMN	0.0	0.8	0.0	0.73	0.0	0.0	-0.67	0.0		0.0	TPMN
ADRD	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0		ADRD
	IUSS	ABLG	ROOF	RINC	SMCP	CLSA	MDCP	QQQN	TPMN	ADRD

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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

TPMN	+ 0.8	ABLG
TPMN	+ 0.73	RINC
RINC	+ 0.71	ABLG
ABLG	+ 0.0	IUSS
ROOF	+ 0.0	IUSS
RINC	+ 0.0	IUSS

High negative correlations

MDCP	- 0.7	RINC
MDCP	- 0.7	ABLG
TPMN	- 0.67	MDCP
ADRD	- 0.0	TPMN
ADRD	- 0.0	QQQN
TPMN	- 0.0	QQQN

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
IUSS	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
ABLG	0.64	0.02	0.00	0.09	0.74	(0.67)	1.10	(1.41)	3.26
ROOF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
RINC	0.81	0.13	0.07	(2.18)	0.72	(0.94)	1.90	(1.54)	4.94
SMCP	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
CLSA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
MDCP	0.99	(0.10)	0.00	1.83	0.00	0.00	1.96	(1.85)	8.17
QQQN	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
TPMN	0.22	0.03	(0.12)	(1.28)	0.16	(0.26)	0.46	(0.42)	1.14
ADRD	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

Delisting Warning - EDOC

Global X was delisted

The entity Global X with a symbol EDOC was delisted from NASDAQ Exchange. Please try Global X HealthTech with a symbol HEAL from now on. Check all delisted instruments accross multiple markets.

Still Interested in Global X?

Investing in delisted delisted etfs can be risky, as the etf is no longer traded on a public exchange and can therefore be difficult to sell. Delisting typically occurs when a company has failed to meet exchange requirements or has been acquired. Before investing, it's important to thoroughly research the company, including its financial health and prospects for the future, as well as the reasons for its delisting. Additionally, it may be difficult to find accurate and up-to-date information on the company and its stock.

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