Global X Correlations

SIL Etf

USD 35.27 1.59 4.72%

The current 90-days correlation between Global X Silver and Amplify ETF Trust is 0.91 (i.e., Almost no diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Global X moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Global X Silver moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Global X Correlation With Market

Significant diversification

The correlation between Global X Silver and DJI is 0.06 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Global X Silver 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 Silver. 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

0.85	SILJ	Amplify ETF Trust	Pair Corr
0.64	GOAU	US Global GO	Pair Corr
0.81	CRIT	Optica Rare Earths	Pair Corr
0.77	DD	Dupont De Nemours Earnings Call This Week	Pair Corr
0.62	HPQ	HP Inc	Pair Corr

Moving against Global Etf

0.46	VCAR	Simplify Volt RoboCar Symbol Change	Pair Corr
0.42	TSLR	GraniteShares 175x Long	Pair Corr
0.55	BA	Boeing	Pair Corr
0.31	AXP	American Express	Pair Corr
0.31	CSCO	Cisco Systems	Pair Corr

Related Correlations Analysis

	SILJ	GDXJ	PAAS	CDE	HL
SILJ		0.62	0.69	0.55	0.69	SILJ
GDXJ	0.62		0.76	0.57	0.75	GDXJ
PAAS	0.69	0.76		0.83	0.88	PAAS
CDE	0.55	0.57	0.83		0.57	CDE
HL	0.69	0.75	0.88	0.57		HL
	SILJ	GDXJ	PAAS	CDE	HL

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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
SILJ	1.82	(0.16)	0.00	(4.39)	0.00	0.00	4.15	(3.94)	9.88
GDXJ	1.66	(0.03)	0.00	(0.16)	0.00	0.00	3.86	(3.44)	9.76
PAAS	2.08	(0.07)	0.00	(1.12)	0.00	0.00	5.69	(3.94)	12.66
CDE	2.97	(0.02)	(0.02)	0.04	3.20	(3.53)	7.70	(4.96)	18.31
HL	2.19	(0.25)	0.00	(2.09)	0.00	0.00	5.48	(4.15)	12.34

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