Global X Correlations

Etfs . USA . 
Etf . Global X SuperDividend
SDIV Etf  USD 21.74  0.10  0.46%   
The current 90-days correlation between Global X SuperDividend and Global X SuperDividend is 0.47 (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

Weak diversification

The correlation between Global X SuperDividend and DJI is 0.38 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Global X SuperDividend and DJI in the same portfolio, assuming nothing else is changed.
  
Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Global X SuperDividend. 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

  0.77PBD Invesco Global CleanPairCorr
  0.67CTEC Global X CleanTechPairCorr
  0.87KROP Global X AgTechPairCorr
  0.64IVEG iShares Emergent FoodPairCorr
  0.68IBM International Business Fiscal Year End 22nd of January 2025 PairCorr
  0.84DD Dupont De Nemours Fiscal Year End 4th of February 2025 PairCorr
  0.71GE GE Aerospace Fiscal Year End 28th of January 2025 PairCorr
  0.72MMM 3M Company Fiscal Year End 28th of January 2025 PairCorr
  0.71VZ Verizon Communications Aggressive PushPairCorr

Moving against Global Etf

  0.78BFIT BFITPairCorr
  0.34QTOC Innovator ETFs TrustPairCorr
  0.32XTOC Innovator ETFs TrustPairCorr
  0.52JPM JPMorgan Chase Fiscal Year End 10th of January 2025 PairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

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   
SPHD
+ 0.86
DIV
KBWD
+ 0.64
DIV
PGX
+ 0.63
SRET
PGX
+ 0.55
SPHD
SPHD
+ 0.45
KBWD
PGX
+ 0.24
DIV
  
High negative correlations   
SRET
- 0.24
DIV

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.

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions
 
Feedback Blog
Made with optimal in San Francisco
2024 Macroaxis LLC
COMMON DESTINATIONS
MAIN CATEGORIES
COMPANY