Global X Correlations

Etfs . USA . 
Etf . Global X Funds
NDIA Etf   30.92  0.06  0.19%   
The current 90-days correlation between Global X Funds and iShares MSCI India is -0.28 (i.e., Very good 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

Very weak diversification

The correlation between Global X Funds and DJI is 0.48 (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 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

  0.98INDA iShares MSCI India Sell-off TrendPairCorr
  0.93EPI WisdomTree India EarningsPairCorr
  0.95INDSX Financial Investors TrustPairCorr
  0.86SMIN iShares MSCI India Low VolatilityPairCorr
  0.94PIN Invesco India ETFPairCorr
  0.99FLIN Franklin FTSE IndiaPairCorr
  0.86GLIN VanEck India GrowthPairCorr
  0.96NFTY First Trust IndiaPairCorr
  0.93INDF Exchange Traded ConceptsPairCorr
  0.91YCL ProShares Ultra YenPairCorr
  0.88VIIX VIIXPairCorr
  0.88ULE ProShares Ultra EuroPairCorr
  0.92FXY Invesco CurrencySharesPairCorr
  0.76PFE Pfizer Inc Aggressive PushPairCorr
  0.74JNJ Johnson Johnson Sell-off TrendPairCorr

Moving against Global Etf

  0.88TSJA TSJAPairCorr
  0.88DSJA DSJAPairCorr
  0.85IXSE IXSEPairCorr
  0.75SIXD AIM ETF ProductsPairCorr
  0.36CEFD ETRACS Monthly PayPairCorr
  0.82BAC Bank of America Aggressive PushPairCorr
  0.81JPM JPMorgan Chase Sell-off TrendPairCorr
  0.78CVX Chevron Corp Sell-off TrendPairCorr
  0.67WMT Walmart Aggressive PushPairCorr
  0.67DIS Walt Disney Sell-off TrendPairCorr
  0.66T ATT Inc Fiscal Year End 22nd of January 2025 PairCorr
  0.66AXP American Express Fiscal Year End 24th of January 2025 PairCorr
  0.59HPQ HP IncPairCorr
  0.56INTC Intel Fiscal Year End 23rd of January 2025 PairCorr
  0.53XOM Exxon Mobil Corp Fiscal Year End 7th of February 2025 PairCorr
  0.43HD Home DepotPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

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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