Global X Correlations
| NGE Etf | USD 10.28 0.01 0.1% |
The current 90-days correlation between Global X and EGPT is 0.09 (i.e., Significant 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 good diversification
The correlation between Global X and DJI is -0.21 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Global X and DJI in the same portfolio, assuming nothing else is changed.
Global |
Moving together with Global Etf
| 0.75 | BA | Boeing Earnings Call This Week | PairCorr |
Moving against Global Etf
| 0.75 | EWC | iShares MSCI Canada | PairCorr |
| 0.74 | EWA | iShares MSCI Australia | PairCorr |
| 0.71 | BBCA | JPMorgan BetaBuilders | PairCorr |
| 0.58 | RFDA | RiverFront Dynamic | PairCorr |
| 0.57 | GREI | Goldman Sachs Future | PairCorr |
| 0.88 | AA | Alcoa Corp | PairCorr |
| 0.74 | TRV | The Travelers Companies | PairCorr |
| 0.74 | HPQ | HP Inc | PairCorr |
| 0.7 | DD | Dupont De Nemours Fiscal Year End 4th of February 2025 | PairCorr |
| 0.69 | XOM | Exxon Mobil Corp Earnings Call This Week | PairCorr |
| 0.64 | CAT | Caterpillar Fiscal Year End 3rd of February 2025 | PairCorr |
| 0.63 | CVX | Chevron Corp Earnings Call This Week | PairCorr |
| 0.53 | HD | Home Depot | PairCorr |
| 0.43 | T | ATT Inc Aggressive Push | PairCorr |
| 0.4 | JNJ | Johnson Johnson Fiscal Year End 28th of January 2025 | PairCorr |
| 0.32 | BAC | Bank of America | PairCorr |
Related Correlations Analysis
| 0.09 | 0.53 | 0.32 | 0.31 | EGPT | ||
| 0.09 | -0.14 | 0.42 | 0.39 | PAK | ||
| 0.53 | -0.14 | 0.34 | -0.07 | AFK | ||
| 0.32 | 0.42 | 0.34 | 0.09 | PGAL | ||
| 0.31 | 0.39 | -0.07 | 0.09 | GXG | ||
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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
| High negative correlations
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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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| EGPT | 0.85 | 0.00 | (0.02) | 0.06 | 0.94 | 1.75 | 4.99 | |||
| PAK | 1.15 | 0.10 | 0.04 | (2.52) | 1.27 | 2.02 | 14.94 | |||
| AFK | 0.95 | (0.05) | 0.00 | (0.20) | 0.00 | 1.71 | 6.15 | |||
| PGAL | 0.73 | 0.00 | (0.04) | (0.01) | 0.81 | 1.59 | 3.49 | |||
| GXG | 0.78 | 0.09 | 0.06 | 0.48 | 0.85 | 2.01 | 4.30 |
Global X Related Equities
One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with Global X etf to make a market-neutral strategy. Peer analysis of Global X could also be used in its relative valuation, which is a method of valuing Global X by comparing valuation metrics with similar companies.
| Risk & Return | Correlation |