Global X Correlations

HBGD-U Etf

USD 22.69 1.04 4.80%

The current 90-days correlation between Global X Big and Global X Equal is 0.07 (i.e., Significant 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

Significant diversification

The correlation between Global X Big and DJI is 0.04 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Global X Big 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 Big to buy it.

Moving together with Global Etf

0.69	XIU	iShares SPTSX 60	Pair Corr
0.68	XIC	iShares Core SPTSX	Pair Corr
0.69	ZCN	BMO SPTSX Capped	Pair Corr
0.83	ZSP	BMO SP 500	Pair Corr
0.83	VFV	Vanguard SP 500	Pair Corr
0.89	ZEB	BMO SPTSX Equal	Pair Corr
0.79	CMAG	CI Munro Alternative	Pair Corr
0.77	ZNQ	BMO NASDAQ 100	Pair Corr
0.89	FBTC	Fidelity Advantage	Pair Corr
0.74	ZFC	BMO SIA Focused	Pair Corr
0.68	QCLN	First Trust Nasdaq	Pair Corr
0.89	BTCQ	3iQ Bitcoin ETF	Pair Corr
0.8	QETH-U	Ether Fund	Pair Corr
0.8	MNY	Purpose Cash Management	Pair Corr
0.76	HRAA	Global X ReSolve	Pair Corr
0.81	ZUAG	BMO Aggregate Bond	Pair Corr
0.78	CINV	CI Global Alpha	Pair Corr
0.78	FEQT	Fidelity All in	Pair Corr
0.83	SITU	Scotia Equity Index	Pair Corr
0.64	MCSB	Mackenzie Canadian Short	Pair Corr
0.81	USCL	Global X Enhanced	Pair Corr
0.77	HERO	Evolve E Gaming	Pair Corr
0.65	MPY	Mulvihill Premium Yield	Pair Corr
0.75	ZGRO-T	BMO Growth ETF	Pair Corr
0.77	XDV	iShares Canadian Select	Pair Corr
0.8	HFU	BetaPro SPTSX Capped	Pair Corr
0.74	LEAD	Evolve Future Leadership	Pair Corr
0.76	QQCL	Global X Enhanced	Pair Corr
0.86	UBIL-U	Global X 0	Pair Corr
0.8	CASH	GLOBAL X HIGH	Pair Corr
0.66	ZMBS	BMO Canadian MBS	Pair Corr
0.78	PFAE	Picton Mahoney Fortified	Pair Corr

Related Correlations Analysis

	HCRE	BKCL	GLCC	ENCC	UBIL-U	BNKL	SAFE	HXS-U	USCC-U
HCRE		-0.62	0.67	0.34	-0.87	-0.58	0.14	-0.28	-0.46	HCRE
BKCL	-0.62		-0.64	0.05	0.85	0.97	0.52	0.85	0.87	BKCL
GLCC	0.67	-0.64		0.2	-0.73	-0.6	-0.38	-0.5	-0.56	GLCC
ENCC	0.34	0.05	0.2		-0.35	-0.01	0.44	0.06	0.0	ENCC
UBIL-U	-0.87	0.85	-0.73	-0.35		0.84	0.17	0.62	0.71	UBIL-U
BNKL	-0.58	0.97	-0.6	-0.01	0.84		0.49	0.83	0.83	BNKL
SAFE	0.14	0.52	-0.38	0.44	0.17	0.49		0.6	0.49	SAFE
HXS-U	-0.28	0.85	-0.5	0.06	0.62	0.83	0.6		0.93	HXS-U
USCC-U	-0.46	0.87	-0.56	0.0	0.71	0.83	0.49	0.93		USCC-U
	HCRE	BKCL	GLCC	ENCC	UBIL-U	BNKL	SAFE	HXS-U	USCC-U

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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

BNKL	+ 0.97	BKCL
USCC-U	+ 0.93	HXS-U
USCC-U	+ 0.87	BKCL
UBIL-U	+ 0.85	BKCL
HXS-U	+ 0.85	BKCL
BNKL	+ 0.84	UBIL-U

High negative correlations

UBIL-U	- 0.87	HCRE
UBIL-U	- 0.73	GLCC
GLCC	- 0.64	BKCL
BKCL	- 0.62	HCRE
BNKL	- 0.6	GLCC
BNKL	- 0.58	HCRE

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
HCRE	0.61	(0.19)	0.00	(4.09)	0.00	0.00	1.20	(1.57)	4.02
BKCL	0.29	0.06	0.09	0.30	0.27	(0.32)	0.59	(0.72)	2.37
GLCC	1.59	(0.02)	0.00	0.24	0.00	0.00	3.61	(3.13)	11.29
ENCC	0.70	0.00	(0.02)	0.00	0.91	(0.69)	1.31	(1.48)	3.45
UBIL-U	0.02	0.00	0.00	0.60	0.00	0.00	0.04	(0.02)	0.44
BNKL	0.46	0.09	0.11	4.89	0.44	(0.53)	0.96	(0.73)	4.11
SAFE	0.49	(0.02)	0.00	(0.10)	0.00	0.00	0.82	(0.89)	3.14
HXS-U	0.60	0.03	0.03	0.08	0.84	(0.60)	1.28	(1.57)	5.32
USCC-U	0.50	0.04	0.03	0.11	0.74	(0.52)	1.30	(1.43)	4.24

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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