Global X Correlations

URNU Etf

17.03 0.30 1.79%

The current 90-days correlation between Global X Uranium and Global X Data is 0.64 (i.e., Poor 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

Significant diversification

The correlation between Global X Uranium and DJI is 0.01 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Global X Uranium 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 Uranium to buy it.

Moving together with Global Etf

0.68	2AMD	Leverage Shares 2x	Pair Corr
0.65	WATL	Amundi MSCI Water	Pair Corr
0.72	BYBU	Amundi SP 500	Pair Corr

Moving against Global Etf

0.7	2GOO	Leverage Shares 2x	Pair Corr
0.54	1AMZ	LS 1x Amazon	Pair Corr
0.52	TR3X	INVESCO MARKETS II	Pair Corr
0.44	FCBR	First Trust Nasdaq	Pair Corr
0.42	AAP2	Leverage Shares 2x	Pair Corr
0.39	VUCP	Vanguard USD Corporate	Pair Corr
0.35	NGAG	UBS AG UBS	Pair Corr

Related Correlations Analysis

	VPN	COPG	SPQH	PAVE	URNU	HERG	URND	FINX	BKCG
VPN		0.62	0.09	0.55	0.72	-0.19	0.68	0.27	0.48	VPN
COPG	0.62		-0.46	0.45	0.68	-0.31	0.57	-0.26	-0.02	COPG
SPQH	0.09	-0.46		0.3	-0.11	0.43	0.02	0.84	0.66	SPQH
PAVE	0.55	0.45	0.3		0.73	-0.04	0.71	0.62	0.67	PAVE
URNU	0.72	0.68	-0.11	0.73		-0.07	0.94	0.22	0.34	URNU
HERG	-0.19	-0.31	0.43	-0.04	-0.07		0.04	0.23	-0.06	HERG
URND	0.68	0.57	0.02	0.71	0.94	0.04		0.33	0.43	URND
FINX	0.27	-0.26	0.84	0.62	0.22	0.23	0.33		0.87	FINX
BKCG	0.48	-0.02	0.66	0.67	0.34	-0.06	0.43	0.87		BKCG
	VPN	COPG	SPQH	PAVE	URNU	HERG	URND	FINX	BKCG

Click cells to compare fundamentals

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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

URND	+ 0.94	URNU
BKCG	+ 0.87	FINX
FINX	+ 0.84	SPQH
URNU	+ 0.73	PAVE
URNU	+ 0.72	VPN
URND	+ 0.71	PAVE

High negative correlations

SPQH	- 0.46	COPG
HERG	- 0.31	COPG
FINX	- 0.26	COPG
HERG	- 0.19	VPN
URNU	- 0.11	SPQH
HERG	- 0.07	URNU

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
VPN	1.11	(0.12)	0.00	(0.29)	0.00	0.00	2.17	(3.25)	9.42
COPG	1.30	(0.13)	0.00	(1.14)	0.00	0.00	2.68	(2.74)	10.62
SPQH	0.30	0.02	(0.09)	0.28	0.48	(0.29)	0.78	(0.88)	2.62
PAVE	0.93	0.01	(0.04)	0.13	1.19	(1.04)	1.93	(1.60)	10.52
URNU	1.92	(0.09)	0.00	(3.19)	0.00	0.00	4.43	(3.38)	16.49
HERG	1.99	1.01	1.11	0.91	0.00	(2.51)	1.64	(1.43)	64.60
URND	1.81	(0.01)	0.00	0.16	0.00	0.00	4.95	(3.48)	15.42
FINX	1.12	0.17	0.07	0.55	1.31	(1.20)	2.37	(2.23)	8.45
BKCG	3.99	0.22	0.03	0.45	5.12	(4.15)	6.82	(8.32)	34.31

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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