Global X Correlations

Etfs . USA . 
Etf . Global X Video
HERO Etf  USD 23.69  0.22  0.94%   
The current 90-days correlation between Global X Video and Vanguard Industrials Index is 0.38 (i.e., 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 Video 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 Video and DJI is 0.39 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Global X Video and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Global X Video. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in metropolitan statistical area.

Moving together with Global Etf

  0.65VOX Vanguard CommunicationPairCorr
  0.65FCOM Fidelity MSCI CommunPairCorr
  0.61IYZ IShares TelecommunicatioPairCorr
  0.68ESPO VanEck Video GamingPairCorr
  0.79IXP iShares Global CommPairCorr
  0.92SOCL Global X SocialPairCorr
  0.94GAMR Amplify ETF TrustPairCorr
  0.62EWCO InvescoPairCorr
  0.69MPAY Akros Monthly PayoutPairCorr
  0.79DD Dupont De Nemours Fiscal Year End 4th of February 2025 PairCorr
  0.72INTC Intel Fiscal Year End 23rd of January 2025 PairCorr
  0.61XOM Exxon Mobil Corp Sell-off TrendPairCorr
  0.83CAT Caterpillar Fiscal Year End 3rd of February 2025 PairCorr
  0.73HD Home DepotPairCorr

Moving against Global Etf

  0.35BITI ProShares TrustPairCorr
  0.5JNJ Johnson Johnson Sell-off TrendPairCorr
  0.39MRK Merck Company Fiscal Year End 6th of February 2025 PairCorr

Related Correlations Analysis

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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   
VCR
+ 0.92
VIS
VAW
+ 0.76
VIS
VPU
+ 0.76
VAW
VPU
+ 0.66
VIS
VCR
+ 0.55
VAW
VPU
+ 0.55
VCR
  
High negative correlations   
VDC
- 0.26
VIS
VDC
- 0.19
VCR
VDC
- 0.1
VAW

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.

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