Global X Correlations

HAL Etf

CAD 26.80 0.01 0.04%

The current 90-days correlation between Global X Active and Purpose Enhanced Dividend is 0.57 (i.e., Very weak 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.

Global X Correlation With Market

Weak diversification

The correlation between Global X Active and DJI is 0.33 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Global X Active and DJI in the same portfolio, assuming nothing else is changed.

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

0.99	ZWC	BMO Canadian High	Pair Corr
0.99	XDV	iShares Canadian Select	Pair Corr
0.86	CDZ	iShares SPTSX Canadian	Pair Corr
0.96	PDC	Invesco Canadian Dividend	Pair Corr
0.94	XEI	iShares SPTSX Composite	Pair Corr
0.99	VDY	Vanguard FTSE Canadian	Pair Corr
0.99	ZDV	BMO Canadian Dividend	Pair Corr
0.93	DGRC	CI Canada Quality	Pair Corr
0.98	CDIV	Manulife Smart Dividend	Pair Corr
0.93	HXH	Global X Canadian	Pair Corr
0.85	HGU	BetaPro Canadian Gold	Pair Corr
0.9	HZU	BetaPro Silver 2x	Pair Corr
0.83	ZGD	BMO Equal Weight	Pair Corr
0.84	GLDX	Global X Gold	Pair Corr
0.85	HGGG	Harvest Global Gold	Pair Corr
0.75	ZJG	BMO Junior Gold	Pair Corr
0.9	SVR	iShares Silver Bullion	Pair Corr
0.8	XGD	iShares SPTSX Global	Pair Corr
0.92	HUZ	Global X Silver	Pair Corr
0.81	HEP	Global X Enhanced	Pair Corr

Related Correlations Analysis

	PDIV	PRA	NXF	XDGH	CNCC	BDIV	RMAX	ETHI	BMAX
PDIV		0.77	0.5	0.91	0.92	0.89	-0.73	0.19	0.85	PDIV
PRA	0.77		0.33	0.72	0.74	0.72	-0.5	0.24	0.73	PRA
NXF	0.5	0.33		0.35	0.3	0.49	-0.45	-0.22	0.32	NXF
XDGH	0.91	0.72	0.35		0.92	0.73	-0.59	0.35	0.81	XDGH
CNCC	0.92	0.74	0.3	0.92		0.81	-0.71	0.35	0.87	CNCC
BDIV	0.89	0.72	0.49	0.73	0.81		-0.71	0.21	0.84	BDIV
RMAX	-0.73	-0.5	-0.45	-0.59	-0.71	-0.71		0.12	-0.55	RMAX
ETHI	0.19	0.24	-0.22	0.35	0.35	0.21	0.12		0.6	ETHI
BMAX	0.85	0.73	0.32	0.81	0.87	0.84	-0.55	0.6		BMAX
	PDIV	PRA	NXF	XDGH	CNCC	BDIV	RMAX	ETHI	BMAX

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

CNCC	+ 0.92	PDIV
CNCC	+ 0.92	XDGH
XDGH	+ 0.91	PDIV
BDIV	+ 0.89	PDIV
BMAX	+ 0.87	CNCC
BMAX	+ 0.85	PDIV

High negative correlations

RMAX	- 0.73	PDIV
RMAX	- 0.71	BDIV
RMAX	- 0.71	CNCC
RMAX	- 0.59	XDGH
BMAX	- 0.55	RMAX
RMAX	- 0.5	PRA

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
PDIV	0.29	0.04	0.01	0.23	0.39	(0.32)	0.65	(0.65)	3.07
PRA	0.61	0.04	(0.01)	0.78	0.74	(0.65)	1.15	(1.07)	4.42
NXF	0.79	(0.04)	0.00	(0.38)	0.00	0.00	1.53	(1.50)	4.54
XDGH	0.47	0.04	0.02	0.14	0.42	(0.56)	1.12	(0.81)	3.02
CNCC	0.43	0.05	0.03	0.18	0.46	(0.45)	0.83	(0.90)	2.26
BDIV	0.52	0.03	(0.02)	0.25	0.57	(0.60)	1.11	(1.25)	2.96
RMAX	0.43	(0.09)	0.00	(0.32)	0.00	0.00	0.79	(1.10)	3.26
ETHI	0.61	(0.01)	(0.03)	0.03	0.82	(0.61)	1.19	(1.50)	3.41
BMAX	0.48	0.02	(0.02)	0.08	0.61	(0.50)	0.92	(1.10)	2.90

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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