Global X Correlations

HFR Etf

CAD 10.05 0.01 0.1%

The current 90-days correlation between Global X Active and Global X Equal is 0.1 (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.

Global X Correlation With Market

Good diversification

The correlation between Global X Active and DJI is -0.03 (i.e., Good 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

0.78	XSH	iShares Core Canadian	Pair Corr
0.78	ZCS	BMO Short Corporate	Pair Corr
0.99	ZST	BMO Ultra Short	Pair Corr
0.66	CBO	iShares 1 5	Pair Corr
0.63	PSB	Invesco 1 5	Pair Corr
0.99	XFR	iShares Floating Rate	Pair Corr
0.9	FHE	First Trust Indxx	Pair Corr
0.82	HBLK	Blockchain Technologies	Pair Corr

Moving against Global Etf

0.96	HXD	BetaPro SPTSX 60	Pair Corr
0.87	HIU	BetaPro SP 500	Pair Corr
0.86	HQD	BetaPro NASDAQ 100	Pair Corr
0.41	HED	BetaPro SPTSX Capped	Pair Corr

Related Correlations Analysis

	HCRE	BKCL	GLCC	ENCC	UBIL-U	BNKL	SAFE	HXS-U	USCC-U
HCRE		0.02	0.36	-0.42	-0.24	0.02	0.27	-0.21	-0.18	HCRE
BKCL	0.02		0.24	0.59	0.95	1.0	-0.3	0.86	0.87	BKCL
GLCC	0.36	0.24		0.15	0.22	0.28	0.14	0.27	0.28	GLCC
ENCC	-0.42	0.59	0.15		0.72	0.6	-0.18	0.78	0.76	ENCC
UBIL-U	-0.24	0.95	0.22	0.72		0.95	-0.33	0.89	0.9	UBIL-U
BNKL	0.02	1.0	0.28	0.6	0.95		-0.29	0.86	0.88	BNKL
SAFE	0.27	-0.3	0.14	-0.18	-0.33	-0.29		-0.42	-0.45	SAFE
HXS-U	-0.21	0.86	0.27	0.78	0.89	0.86	-0.42		0.99	HXS-U
USCC-U	-0.18	0.87	0.28	0.76	0.9	0.88	-0.45	0.99		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	+ 1.0	BKCL
USCC-U	+ 0.99	HXS-U
UBIL-U	+ 0.95	BKCL
BNKL	+ 0.95	UBIL-U
USCC-U	+ 0.9	UBIL-U
HXS-U	+ 0.89	UBIL-U

High negative correlations

USCC-U	- 0.45	SAFE
HXS-U	- 0.42	SAFE
ENCC	- 0.42	HCRE
SAFE	- 0.33	UBIL-U
SAFE	- 0.3	BKCL
SAFE	- 0.29	BNKL

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	0.67	0.02	(0.12)	0.41	0.76	(0.77)	1.75	(1.18)	3.80
BKCL	0.35	0.18	0.16	(9.70)	0.00	(0.47)	0.95	(0.47)	2.19
GLCC	1.49	(0.02)	0.00	0.39	0.00	0.00	3.47	(2.71)	12.03
ENCC	0.82	0.07	(0.03)	0.58	0.95	(0.86)	1.60	(1.53)	4.59
UBIL-U	0.02	0.01	0.00	(3.17)	0.00	0.00	0.06	(0.02)	0.10
BNKL	0.54	0.24	0.31	1.51	0.00	(0.71)	1.78	(0.64)	3.78
SAFE	0.42	0.19	0.00	4.75	0.00	0.00	1.14	(0.63)	1.76
HXS-U	0.51	0.05	(0.02)	0.25	0.74	(0.51)	1.12	(1.42)	4.34
USCC-U	0.40	0.05	(0.05)	0.26	0.37	(0.44)	1.05	(1.12)	3.39

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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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