Global X Correlations

NDIA Etf

27.48 0.00 0.00%

The current 90-days correlation between Global X Funds and Freedom Day Dividend is 0.15 (i.e., Average 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

Good diversification

The correlation between Global X Funds 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 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

0.94	GLIN	VanEck India Growth	Pair Corr
0.61	JNJ	Johnson Johnson Earnings Call Today	Pair Corr
0.78	VZ	Verizon Communications Fiscal Year End 28th of January 2025	Pair Corr

Moving against Global Etf

0.67	ICSH	iShares Ultra Short	Pair Corr
0.48	VCAR	Simplify Volt RoboCar Symbol Change	Pair Corr
0.42	TSLL	Direxion Shares ETF Aggressive Push	Pair Corr
0.39	SHYG	iShares 0 5	Pair Corr
0.36	BITX	Volatility Shares Trust Low Volatility	Pair Corr
0.33	FNGU	MicroSectors FANG Index	Pair Corr
0.33	HFGO	Hartford Large Cap	Pair Corr
0.32	XLY	Consumer Discretionary	Pair Corr
0.68	EWV	ProShares UltraShort MSCI	Pair Corr
0.58	SEIX	Virtus ETF Trust	Pair Corr
0.36	BA	Boeing Earnings Call This Week	Pair Corr
0.31	BAC	Bank of America	Pair Corr

Related Correlations Analysis

	MBOX	MCHI	DIVS	DIVY	DIVZ	VT	MEMX	MFDX	MFEM
MBOX		0.01	0.52	0.78	0.92	0.77	0.25	0.51	0.26	MBOX
MCHI	0.01		0.68	0.32	0.16	0.15	0.7	0.67	0.88	MCHI
DIVS	0.52	0.68		0.8	0.61	0.52	0.88	0.94	0.87	DIVS
DIVY	0.78	0.32	0.8		0.83	0.66	0.59	0.78	0.6	DIVY
DIVZ	0.92	0.16	0.61	0.83		0.63	0.38	0.61	0.42	DIVZ
VT	0.77	0.15	0.52	0.66	0.63		0.29	0.46	0.27	VT
MEMX	0.25	0.7	0.88	0.59	0.38	0.29		0.89	0.89	MEMX
MFDX	0.51	0.67	0.94	0.78	0.61	0.46	0.89		0.88	MFDX
MFEM	0.26	0.88	0.87	0.6	0.42	0.27	0.89	0.88		MFEM
	MBOX	MCHI	DIVS	DIVY	DIVZ	VT	MEMX	MFDX	MFEM

Click cells to compare fundamentals

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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
MBOX	0.64	0.00	(0.01)	0.03	0.82	(0.69)	1.27	(1.06)	5.51
MCHI	1.35	(0.05)	0.00	(0.13)	0.00	0.00	2.45	(2.72)	12.27
DIVS	0.50	(0.04)	0.00	(0.09)	0.00	0.00	0.89	(1.22)	3.42
DIVY	0.58	(0.04)	0.00	(0.36)	0.00	0.00	1.18	(1.22)	5.22
DIVZ	0.54	0.01	(0.01)	0.05	0.67	(0.57)	1.12	(0.79)	3.87
VT	0.53	0.01	0.00	0.07	0.80	(0.52)	1.21	(0.99)	4.26
MEMX	0.56	(0.05)	0.00	(0.14)	0.00	0.00	0.96	(1.04)	3.49
MFDX	0.54	(0.06)	0.00	(0.17)	0.00	0.00	1.15	(1.23)	4.03
MFEM	0.60	(0.10)	0.00	(0.28)	0.00	0.00	1.30	(1.62)	4.36

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