Global X Correlations

FINX Etf

USD 33.26 0.33 1.00%

The current 90-days correlation between Global X FinTech and SPDR SP Health is 0.71 (i.e., Poor 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 FinTech and DJI is 0.78 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Global X FinTech 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 FinTech. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in board of governors.

Moving together with Global Etf

0.86	VGT	Vanguard Information	Pair Corr
0.79	XLK	Technology Select Sector	Pair Corr
0.86	IYW	iShares Technology ETF	Pair Corr
0.85	CIBR	First Trust NASDAQ	Pair Corr
0.86	FTEC	Fidelity MSCI Information	Pair Corr
0.98	IGV	iShares Expanded Tech	Pair Corr
0.95	FDN	First Trust Dow	Pair Corr
0.87	IGM	iShares Expanded Tech	Pair Corr
0.82	NVDL	GraniteShares 15x Long	Pair Corr
0.81	NVDX	T Rex 2X	Pair Corr
0.88	CONL	GraniteShares ETF Trust	Pair Corr
0.82	NVDU	Direxion Daily NVDA	Pair Corr
0.94	BITX	Volatility Shares Trust Trending	Pair Corr
0.97	CRPT	First Trust SkyBridge	Pair Corr
0.97	DAPP	VanEck Digital Trans	Pair Corr
0.71	USD	ProShares Ultra Semi Potential Growth	Pair Corr
0.94	WGMI	Valkyrie Bitcoin Miners	Pair Corr
0.96	BAC	Bank of America Aggressive Push	Pair Corr
0.92	CSCO	Cisco Systems	Pair Corr
0.84	AA	Alcoa Corp Fiscal Year End 15th of January 2025	Pair Corr
0.81	TRV	The Travelers Companies Fiscal Year End 17th of January 2025	Pair Corr
0.81	INTC	Intel Fiscal Year End 23rd of January 2025	Pair Corr
0.88	JPM	JPMorgan Chase Fiscal Year End 10th of January 2025	Pair Corr
0.61	HD	Home Depot	Pair Corr

Moving against Global Etf

0.87	KO	Coca Cola Aggressive Push	Pair Corr
0.79	PFE	Pfizer Inc Fiscal Year End 4th of February 2025	Pair Corr
0.71	BA	Boeing Fiscal Year End 29th of January 2025	Pair Corr
0.49	PG	Procter Gamble	Pair Corr

Related Correlations Analysis

	XHE	XHS	AQUI	MSTSX	LBHIX	ABHYX	SCAXF	VIASP	RRTLX
XHE		0.44	0.0	0.18	0.32	-0.1	-0.08	0.4	0.27	XHE
XHS	0.44		0.0	-0.25	-0.39	-0.19	0.47	-0.18	-0.09	XHS
AQUI	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	AQUI
MSTSX	0.18	-0.25	0.0		0.72	0.4	0.03	-0.09	0.82	MSTSX
LBHIX	0.32	-0.39	0.0	0.72		0.62	-0.21	0.17	0.73	LBHIX
ABHYX	-0.1	-0.19	0.0	0.4	0.62		-0.01	-0.21	0.47	ABHYX
SCAXF	-0.08	0.47	0.0	0.03	-0.21	-0.01		-0.71	-0.01	SCAXF
VIASP	0.4	-0.18	0.0	-0.09	0.17	-0.21	-0.71		-0.03	VIASP
RRTLX	0.27	-0.09	0.0	0.82	0.73	0.47	-0.01	-0.03		RRTLX
	XHE	XHS	AQUI	MSTSX	LBHIX	ABHYX	SCAXF	VIASP	RRTLX

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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

RRTLX	+ 0.82	MSTSX
RRTLX	+ 0.73	LBHIX
LBHIX	+ 0.72	MSTSX
ABHYX	+ 0.62	LBHIX
SCAXF	+ 0.47	XHS
RRTLX	+ 0.47	ABHYX

High negative correlations

VIASP	- 0.71	SCAXF
LBHIX	- 0.39	XHS
MSTSX	- 0.25	XHS
VIASP	- 0.21	ABHYX
SCAXF	- 0.21	LBHIX
ABHYX	- 0.19	XHS

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
XHE	0.79	(0.02)	(0.03)	0.06	0.96	(0.81)	1.35	(1.68)	4.71
XHS	0.86	(0.14)	0.00	(0.05)	0.00	0.00	1.78	(1.71)	5.95
AQUI	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
MSTSX	0.49	(0.03)	(0.09)	0.05	0.52	(0.59)	1.21	(1.02)	2.80
LBHIX	0.11	0.00	(0.27)	0.00	0.00	(0.29)	0.24	(0.24)	0.96
ABHYX	0.16	0.00	(0.17)	0.11	0.26	(0.23)	0.34	(0.33)	1.91
SCAXF	0.70	(0.40)	0.00	(1.01)	0.00	0.00	0.00	0.00	23.47
VIASP	0.75	0.14	0.04	(6.44)	1.01	(0.84)	2.28	(1.15)	7.18
RRTLX	0.24	0.00	(0.23)	0.89	0.26	(0.27)	0.56	(0.56)	1.37

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