Global X Correlations

TTTX Etf

28.94 0.36 1.26%

The current 90-days correlation between Global X Innovative and Fidelity Value Currency is 0.07 (i.e., Significant 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 Innovative moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Global X Correlation With Market

Weak diversification

The correlation between Global X Innovative and DJI is 0.3 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Global X Innovative and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Global X could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Global X when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Global X - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Global X Innovative to buy it.

Moving together with Global Etf

0.61	DXG	Dynamic Active Global	Pair Corr
0.64	XWD	iShares MSCI World	Pair Corr
0.65	ZDY	BMO Dividend ETF	Pair Corr
0.61	VGRO	Vanguard Growth Portfolio	Pair Corr
0.67	JEPQ	JPMorgan Nasdaq Equity	Pair Corr
0.77	FHH	First Trust AlphaDEX	Pair Corr
0.67	LIFE	Evolve Global Healthcare	Pair Corr
0.64	HULC	Global X Large	Pair Corr

Related Correlations Analysis

	FCVH	XHD	DRFD	PDF	XMI	GGRO	IQD	FST	RUDH
FCVH		0.23	0.91	0.92	0.5	0.62	0.93	0.94	0.68	FCVH
XHD	0.23		0.18	0.41	0.18	-0.15	0.18	0.2	0.03	XHD
DRFD	0.91	0.18		0.83	0.58	0.66	0.89	0.86	0.65	DRFD
PDF	0.92	0.41	0.83		0.61	0.4	0.84	0.93	0.46	PDF
XMI	0.5	0.18	0.58	0.61		0.36	0.57	0.57	0.12	XMI
GGRO	0.62	-0.15	0.66	0.4	0.36		0.71	0.61	0.54	GGRO
IQD	0.93	0.18	0.89	0.84	0.57	0.71		0.86	0.71	IQD
FST	0.94	0.2	0.86	0.93	0.57	0.61	0.86		0.51	FST
RUDH	0.68	0.03	0.65	0.46	0.12	0.54	0.71	0.51		RUDH
	FCVH	XHD	DRFD	PDF	XMI	GGRO	IQD	FST	RUDH

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

FST	+ 0.94	FCVH
IQD	+ 0.93	FCVH
FST	+ 0.93	PDF
PDF	+ 0.92	FCVH
DRFD	+ 0.91	FCVH
IQD	+ 0.89	DRFD

High negative correlations

GGRO

- 0.15

XHD

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
FCVH	0.69	0.11	0.09	0.21	0.67	(0.77)	1.78	(1.59)	4.11
XHD	0.45	(0.01)	(0.12)	0.00	0.54	(0.45)	0.95	(0.88)	2.59
DRFD	0.50	0.03	(0.01)	0.13	0.46	(0.69)	1.25	(0.86)	3.36
PDF	0.36	0.06	0.02	0.33	0.24	(0.41)	0.87	(0.70)	1.99
XMI	0.38	0.01	(0.07)	0.11	0.46	(0.41)	0.93	(0.78)	3.10
GGRO	0.53	0.02	(0.03)	0.11	0.74	(0.52)	0.94	(1.25)	3.24
IQD	0.48	0.04	0.00	0.19	0.52	(0.54)	1.09	(0.85)	3.27
FST	0.63	0.07	0.02	0.37	0.65	(0.67)	1.41	(1.18)	3.53
RUDH	0.51	0.01	(0.03)	0.10	0.65	(0.58)	1.26	(1.02)	3.44

Be your own money manager

Our tools can tell you how much better you can do entering a position in Global X without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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