Global X Correlations

Etfs USA . 
Etf . Global X Internet
SNSR Etf  USD 35.68  0.32  0.90%   
The current 90-days correlation between Global X Internet and Defiance ETFs is -0.04 (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

Poor diversification

The correlation between Global X Internet and DJI is 0.76 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Global X Internet 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 Internet. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in state.

Moving together with Global Etf

  0.85VGT Vanguard InformationPairCorr
  0.85XLK Technology Select SectorPairCorr
  0.85IYW iShares Technology ETFPairCorr
  0.81SMH VanEck Semiconductor ETFPairCorr
  0.86CIBR First Trust NASDAQPairCorr
  0.85FTEC Fidelity MSCI InformationPairCorr
  0.71IGV iShares Expanded Tech Low VolatilityPairCorr
  0.76FDN First Trust DowPairCorr
  0.84IGM iShares Expanded TechPairCorr
  0.69DIG ProShares Ultra OilPairCorr
  0.83USD ProShares Ultra SemiPairCorr
  0.63YCS ProShares UltraShort YenPairCorr
  0.66TBT ProShares UltraShortPairCorr
  0.63ATMP Barclays ETN SelectPairCorr
  0.75AXP American Express Fiscal Year End 24th of January 2025 PairCorr
  0.66BAC Bank of America Fiscal Year End 10th of January 2025 PairCorr
  0.62XOM Exxon Mobil Corp Sell-off TrendPairCorr
  0.71CAT Caterpillar Fiscal Year End 3rd of February 2025 PairCorr

Moving against Global Etf

  0.38NRGU Bank Of MontrealPairCorr
  0.57MRK Merck Company Fiscal Year End 6th of February 2025 PairCorr
  0.57PG Procter GamblePairCorr
  0.56KO Coca Cola Aggressive PushPairCorr
  0.47PFE Pfizer Inc Aggressive PushPairCorr
  0.32BA Boeing Fiscal Year End 29th of January 2025 PairCorr

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   
CLOU
+ 0.97
FINX
FINX
+ 0.87
FIVG
CLOU
+ 0.81
FIVG
SRVR
+ 0.76
NXTG
SRVR
+ 0.31
FIVG
NXTG
+ 0.13
FIVG
  
High negative correlations   
CLOU
- 0.1
NXTG
FINX
- 0.09
NXTG
SRVR
- 0.08
CLOU
SRVR
- 0.0
FINX

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.

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