Global X Correlations

FLOW Etf

USD 33.57 0.36 1.08%

The current 90-days correlation between Global X Funds and Cambria Micro And is 0.89 (i.e., Very 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

Very poor diversification

The correlation between Global X Funds and DJI is 0.81 (i.e., Very poor 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 persons.

Moving together with Global Etf

0.93	VOE	Vanguard Mid Cap	Pair Corr
0.63	SDY	SPDR SP Dividend	Pair Corr
0.96	IWS	iShares Russell Mid	Pair Corr
1.0	COWZ	Pacer Cash Cows Low Volatility	Pair Corr
0.95	IJJ	iShares SP Mid	Pair Corr
0.97	DON	WisdomTree MidCap	Pair Corr
0.95	MDYV	SPDR SP 400	Pair Corr
0.88	PEY	Invesco High Yield	Pair Corr
0.98	ONEY	SPDR Russell 1000	Pair Corr
0.95	IVOV	Vanguard SP Mid	Pair Corr
0.87	DIG	ProShares Ultra Oil	Pair Corr
0.7	MLPR	ETRACS Quarterly Pay	Pair Corr
0.76	USD	ProShares Ultra Semi	Pair Corr
0.75	YCS	ProShares UltraShort Yen	Pair Corr
0.76	TBT	ProShares UltraShort	Pair Corr
0.86	ATMP	Barclays ETN Select Low Volatility	Pair Corr
0.78	AMZA	InfraCap MLP ETF	Pair Corr
0.81	BAC	Bank of America Fiscal Year End 10th of January 2025	Pair Corr
0.75	JPM	JPMorgan Chase Fiscal Year End 10th of January 2025	Pair Corr
0.89	INTC	Intel Fiscal Year End 23rd of January 2025	Pair Corr
0.87	AA	Alcoa Corp Fiscal Year End 15th of January 2025	Pair Corr
0.9	CVX	Chevron Corp Fiscal Year End 7th of February 2025	Pair Corr
0.79	DIS	Walt Disney	Pair Corr
0.93	AXP	American Express Fiscal Year End 24th of January 2025	Pair Corr

Moving against Global Etf

0.56	NRGU	Bank Of Montreal	Pair Corr
0.72	MRK	Merck Company Fiscal Year End 6th of February 2025	Pair Corr
0.67	KO	Coca Cola Aggressive Push	Pair Corr
0.65	PFE	Pfizer Inc Aggressive Push	Pair Corr
0.63	BA	Boeing Fiscal Year End 29th of January 2025	Pair Corr

Related Correlations Analysis

	MYLD	EFAA	EGUS	EMCS	NIXT	EQLT	WEEL	EVLU	EVUS
MYLD		-0.34	0.83	0.15	0.55	0.0	0.66	0.15	0.83	MYLD
EFAA	-0.34		-0.45	0.52	-0.22	0.64	-0.22	0.53	-0.22	EFAA
EGUS	0.83	-0.45		0.32	0.19	0.12	0.89	0.27	0.89	EGUS
EMCS	0.15	0.52	0.32		-0.33	0.96	0.64	0.98	0.5	EMCS
NIXT	0.55	-0.22	0.19	-0.33		-0.23	-0.07	-0.07	0.13	NIXT
EQLT	0.0	0.64	0.12	0.96	-0.23		0.46	0.95	0.36	EQLT
WEEL	0.66	-0.22	0.89	0.64	-0.07	0.46		0.58	0.9	WEEL
EVLU	0.15	0.53	0.27	0.98	-0.07	0.95	0.58		0.47	EVLU
EVUS	0.83	-0.22	0.89	0.5	0.13	0.36	0.9	0.47		EVUS
	MYLD	EFAA	EGUS	EMCS	NIXT	EQLT	WEEL	EVLU	EVUS

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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

EVLU	+ 0.98	EMCS
EQLT	+ 0.96	EMCS
EVLU	+ 0.95	EQLT
EVUS	+ 0.9	WEEL
WEEL	+ 0.89	EGUS
EVUS	+ 0.89	EGUS

High negative correlations

EGUS	- 0.45	EFAA
EFAA	- 0.34	MYLD
NIXT	- 0.33	EMCS
EQLT	- 0.23	NIXT
EVUS	- 0.22	EFAA
WEEL	- 0.22	EFAA

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
MYLD	0.92	(0.05)	0.00	0.09	0.84	(1.08)	1.88	(1.52)	7.48
EFAA	0.51	(0.10)	0.00	(0.13)	0.00	0.00	1.18	(1.23)	3.00
EGUS	0.73	0.01	0.00	0.13	0.96	(0.72)	1.71	(1.94)	4.88
EMCS	0.93	(0.03)	(0.08)	0.06	1.18	(0.97)	2.45	(2.00)	6.67
NIXT	0.88	0.06	0.05	0.18	0.90	(0.94)	1.75	(1.74)	5.90
EQLT	0.81	(0.02)	(0.11)	0.00	1.03	(0.91)	2.09	(2.09)	6.09
WEEL	0.25	0.03	(0.16)	0.26	0.17	(0.29)	0.76	(0.53)	1.67
EVLU	0.96	0.02	(0.06)	0.20	1.14	(1.08)	2.26	(2.31)	6.76
EVUS	0.52	0.00	(0.03)	0.12	0.35	(0.62)	1.02	(0.85)	3.48

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