Global X Correlations

QDCC Etf   26.43  0.03  0.11%   
The current 90-days correlation between Global X Funds and FT Vest Equity is 0.46 (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

Very weak diversification

The correlation between Global X Funds and DJI is 0.57 (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 Your Equity Center 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 main economic indicators.

Moving together with Global Etf

  0.92JEPI JPMorgan Equity PremiumPairCorr
  0.91XYLD Global X SPPairCorr
  0.9DIVO Amplify CWP EnhancedPairCorr
  0.86RYLD Global X RussellPairCorr
  0.89JEPQ JPMorgan Nasdaq EquityPairCorr
  0.89NUSI NEOS ETF TrustPairCorr
  0.64KNG FT Cboe VestPairCorr
  0.85SIXH ETC 6 MeridianPairCorr
  0.87BUYW Main Buywrite ETFPairCorr
  0.83NVDL GraniteShares 15x LongPairCorr
  0.83NVDX T Rex 2XPairCorr
  0.83NVDU Direxion Daily NVDAPairCorr
  0.84CRPT First Trust SkyBridgePairCorr
  0.75BITX Volatility Shares TrustPairCorr
  0.73CONL GraniteShares ETF TrustPairCorr
  0.82DAPP VanEck Digital TransPairCorr
  0.75DPST Direxion Daily RegionalPairCorr
  0.82WGMI Valkyrie Bitcoin MinersPairCorr
  0.81XOM Exxon Mobil Corp Fiscal Year End 7th of February 2025 PairCorr
  0.92CSCO Cisco Systems Sell-off TrendPairCorr
  0.85CAT Caterpillar Fiscal Year End 3rd of February 2025 PairCorr
  0.9AXP American Express Fiscal Year End 24th of January 2025 PairCorr
  0.81INTC Intel Fiscal Year End 23rd of January 2025 PairCorr
  0.77T ATT Inc Fiscal Year End 22nd of January 2025 PairCorr
  0.77HPQ HP IncPairCorr
  0.82BAC Bank of America Aggressive PushPairCorr
  0.88CVX Chevron Corp Sell-off TrendPairCorr
  0.75DIS Walt Disney Sell-off TrendPairCorr

Moving against Global Etf

  0.76JNJ Johnson Johnson Sell-off TrendPairCorr
  0.75KO Coca Cola Aggressive PushPairCorr
  0.68BA Boeing Fiscal Year End 29th of January 2025 PairCorr
  0.64PFE Pfizer Inc Aggressive PushPairCorr

Related Correlations Analysis

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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   
JPMCRM
CRMT
XOMMETA
JPMF
XOMCRM
CRMMETA
  
High negative correlations   
MRKCRM
MRKJPM
MRKT
JPMA
XOMMRK
MRKMETA

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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
META  1.07  0.07  0.02  0.23  1.41 
 2.62 
 8.02 
MSFT  0.90 (0.04)(0.05) 0.07  1.50 
 2.09 
 8.19 
UBER  1.61 (0.11)(0.04) 0.02  2.32 
 2.69 
 20.10 
F  1.42 (0.15)(0.04) 0.03  2.23 
 2.53 
 11.21 
T  0.92  0.26  0.12 (7.83) 0.86 
 2.56 
 6.47 
A  1.17 (0.09) 0.00 (0.06) 0.00 
 2.71 
 9.02 
CRM  1.31  0.23  0.18  0.34  1.08 
 3.18 
 9.98 
JPM  1.12 (0.04) 0.05  0.11  1.38 
 2.05 
 15.87 
MRK  0.91 (0.24) 0.00 (0.86) 0.00 
 2.00 
 4.89 
XOM  1.00 (0.03)(0.07) 0.06  1.31 
 2.10 
 5.74