Global X Correlations

SLDR Etf

USD 49.99 0.01 0.02%

The current 90-days correlation between Global X Short and Global X Funds is -0.06 (i.e., Good 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

Good diversification

The correlation between Global X Short Term and DJI is -0.16 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Global X Short Term 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 Short Term. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in unemployment.

Moving together with Global Etf

0.65	MRK	Merck Company Fiscal Year End 6th of February 2025	Pair Corr
0.71	KO	Coca Cola Sell-off Trend	Pair Corr
0.69	VZ	Verizon Communications Aggressive Push	Pair Corr

Moving against Global Etf

0.64	QTOC	Innovator ETFs Trust	Pair Corr
0.58	XTOC	Innovator ETFs Trust	Pair Corr
0.56	TSJA	TSJA	Pair Corr
0.55	DSJA	DSJA	Pair Corr
0.47	VUG	Vanguard Growth Index	Pair Corr
0.45	VONG	Vanguard Russell 1000	Pair Corr
0.45	MGK	Vanguard Mega Cap	Pair Corr
0.44	IWF	iShares Russell 1000	Pair Corr
0.44	VRGWX	Vanguard Russell 1000	Pair Corr
0.43	IVW	iShares SP 500	Pair Corr
0.43	SPYG	SPDR Portfolio SP	Pair Corr
0.42	IUSG	iShares Core SP	Pair Corr
0.42	QQQM	Invesco NASDAQ 100	Pair Corr
0.42	XTJA	Innovator ETFs Trust	Pair Corr
0.42	XDJA	Innovator ETFs Trust	Pair Corr
0.41	UPRO	ProShares UltraPro SP500	Pair Corr
0.41	QTAP	Innovator Growth 100	Pair Corr
0.41	XTAP	Innovator Equity Acc	Pair Corr
0.39	QTJA	Innovator ETFs Trust	Pair Corr
0.36	MTUM	iShares MSCI USA	Pair Corr
0.73	JPM	JPMorgan Chase Sell-off Trend	Pair Corr
0.65	BAC	Bank of America Aggressive Push	Pair Corr
0.54	CVX	Chevron Corp Fiscal Year End 7th of February 2025	Pair Corr
0.5	CSCO	Cisco Systems Aggressive Push	Pair Corr
0.43	AXP	American Express Fiscal Year End 24th of January 2025	Pair Corr
0.41	DIS	Walt Disney Aggressive Push	Pair Corr
0.39	TRV	The Travelers Companies Fiscal Year End 17th of January 2025	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.28	0.56	0.02	0.58	0.03	0.65	0.28	-0.54	0.71	META
MSFT	0.28		0.23	0.14	0.19	-0.02	0.03	-0.13	0.11	-0.19	MSFT
UBER	0.56	0.23		-0.04	-0.02	0.27	0.01	-0.13	0.06	0.35	UBER
F	0.02	0.14	-0.04		0.14	-0.4	0.44	0.67	-0.31	0.32	F
T	0.58	0.19	-0.02	0.14		-0.51	0.77	0.56	-0.78	0.37	T
A	0.03	-0.02	0.27	-0.4	-0.51		-0.48	-0.64	0.64	-0.01	A
CRM	0.65	0.03	0.01	0.44	0.77	-0.48		0.85	-0.92	0.66	CRM
JPM	0.28	-0.13	-0.13	0.67	0.56	-0.64	0.85		-0.83	0.49	JPM
MRK	-0.54	0.11	0.06	-0.31	-0.78	0.64	-0.92	-0.83		-0.56	MRK
XOM	0.71	-0.19	0.35	0.32	0.37	-0.01	0.66	0.49	-0.56		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

JPM	+ 0.85	CRM
CRM	+ 0.77	T
XOM	+ 0.71	META
JPM	+ 0.67	F
XOM	+ 0.66	CRM
CRM	+ 0.65	META

High negative correlations

MRK	- 0.92	CRM
MRK	- 0.83	JPM
MRK	- 0.78	T
JPM	- 0.64	A
XOM	- 0.56	MRK
MRK	- 0.54	META

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	1.06	0.06	0.02	0.21	1.39	(1.15)	2.62	(3.15)	8.02
MSFT	0.90	(0.03)	(0.04)	0.07	1.49	(0.86)	2.09	(1.85)	8.19
UBER	1.62	(0.13)	(0.05)	0.00	2.26	(1.79)	2.69	(2.53)	20.10
F	1.43	(0.15)	(0.04)	0.02	2.24	(1.39)	2.53	(2.90)	11.21
T	0.92	0.26	0.12	(9.48)	0.86	(1.06)	2.56	(1.72)	6.47
A	1.14	(0.13)	0.00	(0.12)	0.00	0.00	2.29	(2.42)	9.02
CRM	1.29	0.26	0.22	0.36	0.91	(1.53)	3.18	(1.91)	9.09
JPM	1.12	(0.01)	0.06	0.12	1.42	(1.19)	2.05	(2.00)	15.87
MRK	0.89	(0.23)	0.00	(0.76)	0.00	0.00	2.00	(2.13)	4.89
XOM	1.02	(0.06)	(0.09)	0.00	1.34	(1.07)	2.10	(2.09)	5.74

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