Global X Correlations

HAF Etf

CAD 7.25 0.04 0.55%

The current 90-days correlation between Global X Active and Purpose Total Return is 0.19 (i.e., Average diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Global X moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Global X Active moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

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 Active to buy it.

Moving together with Global Etf

0.89	ZGSB	BMO Global Strategic	Pair Corr
0.77	XSE	iShares Conservative	Pair Corr
0.63	ZMSB	BMO Sustainable Global	Pair Corr

Moving against Global Etf

0.45	BITC	Ninepoint Bitcoin ETF	Pair Corr
0.44	CBCX	CI Galaxy Blockchain	Pair Corr
0.43	FBTC	Fidelity Advantage	Pair Corr
0.43	BTCQ	3iQ Bitcoin ETF	Pair Corr
0.43	EBIT	Bitcoin ETF CAD	Pair Corr
0.42	ETC	Evolve Cryptocurrencies	Pair Corr
0.42	BTCY	Purpose Bitcoin Yield	Pair Corr
0.41	BTCC	Purpose Bitcoin CAD	Pair Corr

Related Correlations Analysis

	PBD	PINC	SYLD	ZUAG-U	XHB	EDGF	SOLR	0P0000OXA6	ALA-PA	ECO
PBD		0.64	0.22	0.48	0.54	0.36	0.13	0.01	-0.17	0.47	PBD
PINC	0.64		0.78	-0.16	0.81	0.62	-0.31	0.6	-0.57	0.5	PINC
SYLD	0.22	0.78		-0.65	0.76	0.42	-0.58	0.89	-0.63	0.08	SYLD
ZUAG-U	0.48	-0.16	-0.65		-0.24	-0.17	0.52	-0.83	0.45	0.3	ZUAG-U
XHB	0.54	0.81	0.76	-0.24		0.47	-0.45	0.65	-0.62	0.14	XHB
EDGF	0.36	0.62	0.42	-0.17	0.47		-0.08	0.44	-0.36	0.32	EDGF
SOLR	0.13	-0.31	-0.58	0.52	-0.45	-0.08		-0.61	0.26	0.02	SOLR
0P0000OXA6	0.01	0.6	0.89	-0.83	0.65	0.44	-0.61		-0.58	-0.06	0P0000OXA6
ALA-PA	-0.17	-0.57	-0.63	0.45	-0.62	-0.36	0.26	-0.58		-0.19	ALA-PA
ECO	0.47	0.5	0.08	0.3	0.14	0.32	0.02	-0.06	-0.19		ECO
	PBD	PINC	SYLD	ZUAG-U	XHB	EDGF	SOLR	0P0000OXA6	ALA-PA	ECO

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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

0P0000OXA6	+ 0.89	SYLD
XHB	+ 0.81	PINC
SYLD	+ 0.78	PINC
XHB	+ 0.76	SYLD
0P0000OXA6	+ 0.65	XHB
PINC	+ 0.64	PBD

High negative correlations

0P0000OXA6	- 0.83	ZUAG-U
ZUAG-U	- 0.65	SYLD
ALA-PA	- 0.63	SYLD
ALA-PA	- 0.62	XHB
0P0000OXA6	- 0.61	SOLR
ALA-PA	- 0.58	0P0000OXA6

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
PBD	0.21	(0.01)	(0.47)	0.05	0.18	(0.26)	0.42	(0.36)	1.21
PINC	0.34	0.00	(0.07)	0.00	0.20	(0.38)	0.78	(0.69)	2.11
SYLD	0.20	0.07	(0.21)	(8.79)	0.00	(0.25)	0.48	(0.37)	1.38
ZUAG-U	0.14	(0.03)	0.00	(2.52)	0.00	0.00	0.46	(0.46)	2.35
XHB	0.19	0.02	(0.44)	(0.96)	0.06	(0.26)	0.46	(0.31)	1.07
EDGF	0.81	0.00	(0.05)	0.13	1.11	(1.20)	2.20	(1.86)	6.42
SOLR	6.27	0.33	0.00	(0.10)	8.35	(26.04)	25.00	(20.00)	50.00
0P0000OXA6	0.51	0.09	(0.01)	0.77	0.50	(0.54)	1.07	(1.18)	4.34
ALA-PA	0.50	0.01	(0.17)	0.07	0.67	(0.60)	1.15	(1.45)	3.73
ECO	1.49	(0.04)	(0.06)	0.02	1.88	(1.71)	3.84	(3.00)	11.63

Be your own money manager

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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