Global X Correlations

PTEC Etf

39.56 0.00 0.00%

The current 90-days correlation between Global X and Global X is 0.26 (i.e., Modest 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 and DJI is -0.12 (i.e., 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.

Build AI portfolio with Global Etf

Check out Your Equity Center to better understand how to build diversified portfolios. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in median.

Moving together with Global Etf

0.67	WSML	iShares MSCI World	Pair Corr
0.77	BITI	ProShares Trust	Pair Corr
0.89	PULS	PGIM Ultra Short	Pair Corr
0.8	MDBX	Tradr 2X Long	Pair Corr
0.86	CPSR	Calamos SP 500	Pair Corr
0.88	LABU	Direxion Daily SP	Pair Corr
0.71	TBXU	Direxion Shares ETF	Pair Corr
0.63	IXUS	iShares Core MSCI	Pair Corr
0.7	SPDW	SPDR SP World	Pair Corr
0.89	FGD	First Trust Dow	Pair Corr
0.7	RSSE	First Trust Exchange	Pair Corr
0.87	DJD	Invesco Dow Jones	Pair Corr
0.82	JEPI	JPMorgan Equity Premium	Pair Corr
0.81	FNDF	Schwab Fundamental	Pair Corr
0.7	INOV	Innovator ETFs Trust	Pair Corr

Moving against Global Etf

0.91	JEM	707 Cayman Holdings	Pair Corr
0.63	SWIN	Alps Symbol Change	Pair Corr
0.49	IPAY	Amplify Digital Payments	Pair Corr
0.48	ACES	ALPS Clean Energy	Pair Corr
0.76	MPAY	Exchange Traded Concepts	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.61	0.35	-0.45	0.24	-0.34	0.35	-0.22	-0.36	-0.45	META
MSFT	0.61		0.83	-0.54	0.43	-0.05	0.0	-0.51	-0.82	-0.65	MSFT
UBER	0.35	0.83		-0.51	0.45	0.21	-0.2	-0.52	-0.82	-0.6	UBER
F	-0.45	-0.54	-0.51		-0.69	0.14	0.33	0.65	0.69	0.78	F
T	0.24	0.43	0.45	-0.69		0.24	-0.61	-0.65	-0.48	-0.61	T
A	-0.34	-0.05	0.21	0.14	0.24		-0.55	-0.25	-0.02	0.04	A
CRM	0.35	0.0	-0.2	0.33	-0.61	-0.55		0.55	0.24	0.27	CRM
JPM	-0.22	-0.51	-0.52	0.65	-0.65	-0.25	0.55		0.69	0.67	JPM
MRK	-0.36	-0.82	-0.82	0.69	-0.48	-0.02	0.24	0.69		0.8	MRK
XOM	-0.45	-0.65	-0.6	0.78	-0.61	0.04	0.27	0.67	0.8		XOM
	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM

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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

UBER	+ 0.83	MSFT
XOM	+ 0.8	MRK
XOM	+ 0.78	F
MRK	+ 0.69	F
MRK	+ 0.69	JPM
XOM	+ 0.67	JPM

High negative correlations

MRK	- 0.82	UBER
MRK	- 0.82	MSFT
T	- 0.69	F
JPM	- 0.65	T
XOM	- 0.65	MSFT
XOM	- 0.61	T

Global X Competition 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
META	1.36	(0.24)	0.00	(0.91)	0.00	0.00	2.30	(2.72)	13.46
MSFT	0.93	(0.14)	0.00	1.10	0.00	0.00	1.65	(2.50)	4.90
UBER	1.49	(0.09)	0.00	0.25	0.00	0.00	2.60	(3.82)	10.23
F	1.41	0.31	0.14	1.78	1.26	(1.68)	3.38	(2.35)	16.30
T	0.90	(0.14)	0.00	3.37	0.00	0.00	1.63	(1.85)	5.78
A	1.09	(0.02)	(0.01)	0.09	1.19	(1.20)	2.34	(2.09)	6.50
CRM	1.60	(0.01)	(0.05)	0.55	2.36	(1.55)	3.66	(3.61)	9.91
JPM	1.18	0.02	(0.04)	0.25	1.67	(1.19)	2.34	(2.34)	7.02
MRK	1.22	0.30	0.18	0.88	1.06	(1.52)	3.59	(1.98)	8.09
XOM	1.06	0.12	0.06	0.33	1.05	(1.18)	2.21	(1.93)	5.82

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.

Global X KraneShares WGRO FLZA ETF Managers Group CHIU Regents Park Funds First Trust TGN Amplify American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup

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