Global X Correlations

NDIA Etf

26.41 0.03 0.11%

The current 90-days correlation between Global X Funds and Davis Select International is 0.41 (i.e., Very weak 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

Modest diversification

The correlation between Global X Funds and DJI is 0.28 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Global X Funds 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 Funds. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in gross domestic product.

Moving together with Global Etf

0.98	INDA	iShares MSCI India	Pair Corr
1.0	EPI	WisdomTree India Earnings	Pair Corr
0.88	INDSX	Financial Investors Trust	Pair Corr
0.97	SMIN	iShares MSCI India Low Volatility	Pair Corr
0.99	PIN	Invesco India ETF	Pair Corr
1.0	FLIN	Franklin FTSE India	Pair Corr
0.97	GLIN	VanEck India Growth	Pair Corr
0.99	NFTY	First Trust India	Pair Corr
0.94	INDF	Exchange Traded Concepts	Pair Corr
0.69	MSTY	YieldMax MSTR Option	Pair Corr

Moving against Global Etf

0.94	JAAA	Janus Detroit Street Sell-off Trend	Pair Corr
0.92	ULST	SPDR SSgA Ultra	Pair Corr
0.89	KWT	iShares MSCI Kuwait	Pair Corr
0.88	COMB	GraniteShares Bloomberg	Pair Corr
0.86	SPSB	SPDR Barclays Short	Pair Corr
0.83	VTIP	Vanguard Short Term Sell-off Trend	Pair Corr
0.77	SHNY	Microsectors Gold	Pair Corr
0.74	IPKW	Invesco International	Pair Corr
0.72	HYUP	Xtrackers High Beta	Pair Corr
0.71	BABX	GraniteShares 175x Long	Pair Corr
0.66	RING	iShares MSCI Global	Pair Corr
0.65	MYY	ProShares Short MidCap400	Pair Corr
0.63	HYDW	Xtrackers Low Beta	Pair Corr
0.63	EFAS	Global X MSCI	Pair Corr
0.62	INOV	Innovator ETFs Trust	Pair Corr
0.61	UIVM	VictoryShares International	Pair Corr
0.51	HDGE	AdvisorShares Ranger	Pair Corr
0.96	PULS	PGIM Ultra Short	Pair Corr
0.96	BIL	SPDR Bloomberg 1	Pair Corr
0.96	ARCM	Arrow Reserve Capital	Pair Corr
0.95	RAVI	FlexShares Ready Access	Pair Corr
0.95	FTSM	First Trust Enhanced	Pair Corr
0.9	LDUR	PIMCO Enhanced Low	Pair Corr
0.88	BCI	abrdn Bloomberg All	Pair Corr
0.86	FTGC	First Trust Global	Pair Corr
0.84	MSD	Morgan Stanley Emerging	Pair Corr
0.83	DBC	Invesco DB Commodity	Pair Corr

Related Correlations Analysis

	DINT	PY	XC	MGMT	VFVA	DSMC	DSTX	DWMF	DWLD
DINT		0.53	0.16	0.14	0.25	-0.11	0.74	0.65	0.9	DINT
PY	0.53		0.46	0.75	0.89	0.55	0.39	0.26	0.68	PY
XC	0.16	0.46		0.81	0.63	0.79	-0.23	-0.43	0.1	XC
MGMT	0.14	0.75	0.81		0.93	0.93	-0.17	-0.33	0.21	MGMT
VFVA	0.25	0.89	0.63	0.93		0.84	0.04	-0.1	0.39	VFVA
DSMC	-0.11	0.55	0.79	0.93	0.84		-0.46	-0.6	-0.09	DSMC
DSTX	0.74	0.39	-0.23	-0.17	0.04	-0.46		0.95	0.88	DSTX
DWMF	0.65	0.26	-0.43	-0.33	-0.1	-0.6	0.95		0.77	DWMF
DWLD	0.9	0.68	0.1	0.21	0.39	-0.09	0.88	0.77		DWLD
	DINT	PY	XC	MGMT	VFVA	DSMC	DSTX	DWMF	DWLD

Click cells to compare fundamentals

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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

DWMF	+ 0.95	DSTX
VFVA	+ 0.93	MGMT
DSMC	+ 0.93	MGMT
DWLD	+ 0.9	DINT
VFVA	+ 0.89	PY
DWLD	+ 0.88	DSTX

High negative correlations

DWMF	- 0.6	DSMC
DSTX	- 0.46	DSMC
DWMF	- 0.43	XC
DWMF	- 0.33	MGMT
DSTX	- 0.23	XC
DSTX	- 0.17	MGMT

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
DINT	0.93	0.13	0.13	0.21	1.07	(1.01)	1.99	(1.96)	6.23
PY	0.57	(0.03)	0.00	(0.12)	0.00	0.00	1.11	(1.51)	3.16
XC	0.70	(0.04)	0.00	(0.18)	0.00	0.00	1.26	(1.54)	4.47
MGMT	0.79	(0.11)	0.00	(0.22)	0.00	0.00	1.21	(1.77)	5.42
VFVA	0.69	(0.11)	0.00	(0.21)	0.00	0.00	1.08	(1.89)	3.62
DSMC	0.71	(0.22)	0.00	(0.36)	0.00	0.00	0.99	(1.90)	4.65
DSTX	0.59	0.15	0.24	0.36	0.59	(0.63)	1.29	(1.16)	3.45
DWMF	0.38	0.13	0.37	0.35	0.19	(0.44)	0.82	(0.53)	2.18
DWLD	0.78	0.08	0.11	0.07	0.88	(0.86)	1.56	(1.32)	4.65

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