Global X Correlations

MLPX Etf

USD 64.01 1.36 2.17%

The current 90-days correlation between Global X MLP and Alerian Energy Infrastructure is 0.93 (i.e., Almost no 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Global X Correlation With Market

Very weak diversification

The correlation between Global X MLP and DJI is 0.46 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Global X MLP and DJI in the same portfolio, assuming nothing else is changed.

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Global X MLP. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in american community survey.

Moving together with Global Etf

0.98	EMLP	First Trust North	Pair Corr
0.91	AMJ	JPMorgan	Pair Corr
0.85	MLPA	Global X MLP	Pair Corr
1.0	TPYP	Tortoise North American	Pair Corr
0.86	AMZA	InfraCap MLP ETF	Pair Corr
0.82	MLPB	UBS AG London	Pair Corr
0.99	ATMP	Barclays ETN Select Low Volatility	Pair Corr
1.0	ENFR	Alerian Energy Infra	Pair Corr
0.83	AMUB	UBS AG London	Pair Corr
0.9	VTI	Vanguard Total Stock	Pair Corr
0.88	SPY	SPDR SP 500	Pair Corr
0.88	IVV	iShares Core SP	Pair Corr
0.83	VTV	Vanguard Value Index	Pair Corr
0.89	VUG	Vanguard Growth Index	Pair Corr
0.92	VO	Vanguard Mid Cap	Pair Corr
0.91	VB	Vanguard Small Cap	Pair Corr
0.84	PPA	Invesco Aerospace Defense	Pair Corr
0.79	TRV	The Travelers Companies Fiscal Year End 17th of January 2025	Pair Corr
0.89	WMT	Walmart Aggressive Push	Pair Corr
0.73	HPQ	HP Inc	Pair Corr
0.64	XOM	Exxon Mobil Corp Aggressive Push	Pair Corr
0.95	BAC	Bank of America Aggressive Push	Pair Corr
0.9	DIS	Walt Disney Aggressive Push	Pair Corr
0.65	HD	Home Depot	Pair Corr
0.9	AXP	American Express Fiscal Year End 24th of January 2025	Pair Corr
0.9	CSCO	Cisco Systems	Pair Corr
0.85	JPM	JPMorgan Chase Fiscal Year End 10th of January 2025	Pair Corr

Moving against Global Etf

0.77	BND	Vanguard Total Bond Sell-off Trend	Pair Corr
0.69	VEA	Vanguard FTSE Developed	Pair Corr
0.8	PFE	Pfizer Inc Fiscal Year End 4th of February 2025	Pair Corr
0.77	BA	Boeing Fiscal Year End 29th of January 2025	Pair Corr
0.48	PG	Procter Gamble	Pair Corr

Related Correlations Analysis

	ENFR	EMLP	AMZA
ENFR		0.98	0.86	ENFR
EMLP	0.98		0.86	EMLP
AMZA	0.86	0.86		AMZA
	ENFR	EMLP	AMZA

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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
ENFR	0.64	0.22	0.27	0.54	0.22	(0.83)	1.31	(0.90)	3.57
EMLP	0.52	0.16	0.19	0.46	0.23	(0.61)	1.25	(0.82)	2.69
AMZA	0.77	0.11	0.07	0.26	0.80	(0.83)	1.62	(1.62)	4.62

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