Global X Correlations

QDIV Etf

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The current 90-days correlation between Global X SP and Global X Alternative is 0.57 (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. If the correlation is 0, the equities are not correlated; they are entirely random.

Global X Correlation With Market

Very weak diversification

The correlation between Global X SP and DJI is 0.5 (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 SP 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 SP. 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

0.75	VTV	Vanguard Value Index Sell-off Trend	Pair Corr
0.78	IWD	iShares Russell 1000 Sell-off Trend	Pair Corr
0.7	DGRO	iShares Core Dividend	Pair Corr
0.94	IVE	iShares SP 500	Pair Corr
0.93	DVY	iShares Select Dividend	Pair Corr
0.94	SPYV	SPDR Portfolio SP Sell-off Trend	Pair Corr
0.94	FVD	First Trust Value	Pair Corr
0.94	IUSV	iShares Core SP	Pair Corr
0.96	NOBL	ProShares SP 500	Pair Corr
0.91	TRV	The Travelers Companies	Pair Corr
0.66	PG	Procter Gamble	Pair Corr
0.86	AA	Alcoa Corp	Pair Corr
0.8	DD	Dupont De Nemours	Pair Corr
0.7	HD	Home Depot Earnings Call Next Week	Pair Corr
0.74	INTC	Intel Aggressive Push	Pair Corr
0.86	CAT	Caterpillar Sell-off Trend	Pair Corr
0.72	CVX	Chevron Corp	Pair Corr

Moving against Global Etf

0.5	QTAP	Innovator Growth 100	Pair Corr
0.47	QTJA	Innovator ETFs Trust	Pair Corr
0.42	XTJA	Innovator ETFs Trust	Pair Corr
0.41	QTOC	Innovator ETFs Trust	Pair Corr
0.36	XTAP	Innovator Equity Acc	Pair Corr
0.79	BA	Boeing	Pair Corr
0.45	PFE	Pfizer Inc	Pair Corr
0.41	WMT	Walmart Earnings Call This Week	Pair Corr
0.35	CSCO	Cisco Systems Aggressive Push	Pair Corr

Related Correlations Analysis

	ALTY	EFAS	SDEM	XYLG	KRMA
ALTY		0.87	0.68	0.72	0.73	ALTY
EFAS	0.87		0.81	0.66	0.68	EFAS
SDEM	0.68	0.81		0.84	0.5	SDEM
XYLG	0.72	0.66	0.84		0.49	XYLG
KRMA	0.73	0.68	0.5	0.49		KRMA
	ALTY	EFAS	SDEM	XYLG	KRMA

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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
ALTY	0.39	0.03	0.06	0.09	0.40	(0.44)	0.78	(0.60)	2.07
EFAS	0.65	0.05	0.06	0.12	0.76	(0.73)	1.24	(1.11)	4.40
SDEM	0.61	0.09	0.11	0.29	0.64	(0.65)	1.11	(1.20)	5.05
XYLG	0.43	0.05	0.08	0.13	0.56	(0.44)	1.04	(0.98)	2.49
KRMA	0.60	0.00	0.00	(0.01)	0.87	(0.57)	1.13	(1.28)	3.82

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