Global X Correlations

EMC Etf   26.53  0.02  0.08%   
The current 90-days correlation between Global X Funds and Invesco PureBeta MSCI is 0.5 (i.e., Very 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

Weak diversification

The correlation between Global X Funds and DJI is 0.36 (i.e., Weak 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 Investing Opportunities 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 population.

Moving together with Global Etf

  0.93VWO Vanguard FTSE EmergingPairCorr
  0.98IEMG iShares Core MSCIPairCorr
  0.97EEM iShares MSCI EmergingPairCorr
  0.93SPEM SPDR Portfolio Emerging Sell-off TrendPairCorr
  0.91FNDE Schwab Fundamental Sell-off TrendPairCorr
  0.97ESGE iShares ESG AwarePairCorr
  0.72DGS WisdomTree EmergingPairCorr
  0.96XSOE WisdomTree EmergingPairCorr
  0.65EMXC iShares MSCI EmergingPairCorr
  0.63HD Home DepotPairCorr
  0.72GE GE Aerospace Fiscal Year End 28th of January 2025 PairCorr
  0.68IBM International Business Fiscal Year End 22nd of January 2025 PairCorr
  0.73MCD McDonalds Fiscal Year End 3rd of February 2025 PairCorr

Moving against Global Etf

  0.62HUM Humana Inc Fiscal Year End 23rd of January 2025 PairCorr
  0.37IAUF ISharesPairCorr
  0.35WTMF WisdomTree ManagedPairCorr

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   
JRBEXRRTLX
JRBEXMSTSX
RRTLXMSTSX
OSHDFVIASP
MSTSXPBUS
RRTLXLBHIX
  
High negative correlations   
OSHDFSCAXF
VIASPSCAXF
SCAXFPBUS
SCAXFLBHIX
VIASPABHYX
VIASPMSTSX

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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
PBUS  0.57  0.01 (0.01) 0.13  0.68 
 1.19 
 3.99 
AQUI  0.00  0.00  0.00  0.00  0.00 
 0.00 
 0.00 
MSTSX  0.48 (0.04)(0.13) 0.06  0.50 
 1.21 
 2.80 
ABHYX  0.17  0.02 (0.25)(0.03) 0.26 
 0.34 
 1.91 
LBHIX  0.11  0.01 (0.41) 0.46  0.00 
 0.24 
 0.96 
SCAXF  0.70 (0.37) 0.00 (25.57) 0.00 
 0.00 
 23.47 
VIASP  0.72  0.00 (0.02) 0.00  1.05 
 2.28 
 7.18 
RRTLX  0.24 (0.02)(0.31) 0.05  0.24 
 0.56 
 1.37 
OSHDF  39.65  20.22  0.00 (24.88) 0.00 
 0.00 
 1,329 
JRBEX  0.35 (0.03)(0.21) 0.05  0.40 
 0.79 
 2.14