Global X Correlations

VPN Etf

USD 23.82 0.08 0.34%

The current 90-days correlation between Global X Data and Invesco Bloomberg MVP is -0.14 (i.e., Good 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 Data moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Global X Correlation With Market

Very weak diversification

The correlation between Global X Data and DJI is 0.43 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Global X Data and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Global Etf

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Global X Data. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as various price indices.

Moving together with Global Etf

0.61	IRET	iREIT MarketVector	Pair Corr
0.71	DFEN	Direxion Daily Aerospace	Pair Corr
0.73	URNM	Sprott Uranium Miners	Pair Corr
0.66	INTC	Intel Earnings Call This Week	Pair Corr
0.66	HD	Home Depot	Pair Corr

Moving against Global Etf

0.61	TRV	The Travelers Companies	Pair Corr
0.38	HHH	Howard Hughes Holdings	Pair Corr
0.4	T	ATT Inc Earnings Call This Week	Pair Corr
0.37	VZ	Verizon Communications Earnings Call This Week	Pair Corr

Related Correlations Analysis

	EBLU	IDME	RESP	RNEW	RUFF	ISDX	ABLD	MJUS	TDSD	BMVP
EBLU		0.74	0.0	-0.6	0.0	0.0	0.68	0.1	0.0	0.62	EBLU
IDME	0.74		0.0	-0.41	0.0	0.0	0.69	-0.11	0.0	0.67	IDME
RESP	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	0.0	RESP
RNEW	-0.6	-0.41	0.0		0.0	0.0	-0.67	0.22	0.0	-0.56	RNEW
RUFF	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	RUFF
ISDX	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	ISDX
ABLD	0.68	0.69	0.0	-0.67	0.0	0.0		-0.58	0.0	0.96	ABLD
MJUS	0.1	-0.11	0.0	0.22	0.0	0.0	-0.58		0.0	-0.65	MJUS
TDSD	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0		0.0	TDSD
BMVP	0.62	0.67	0.0	-0.56	0.0	0.0	0.96	-0.65	0.0		BMVP
	EBLU	IDME	RESP	RNEW	RUFF	ISDX	ABLD	MJUS	TDSD	BMVP

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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

BMVP	+ 0.96	ABLD
IDME	+ 0.74	EBLU
ABLD	+ 0.69	IDME
ABLD	+ 0.68	EBLU
BMVP	+ 0.67	IDME
BMVP	+ 0.62	EBLU

High negative correlations

ABLD	- 0.67	RNEW
BMVP	- 0.65	MJUS
RNEW	- 0.6	EBLU
MJUS	- 0.58	ABLD
BMVP	- 0.56	RNEW
RNEW	- 0.41	IDME

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
EBLU	0.64	(0.03)	(0.05)	0.03	0.75	(0.67)	1.70	(1.21)	4.11
IDME	0.49	0.10	0.06	0.92	0.48	(0.56)	1.03	(1.18)	3.28
RESP	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
RNEW	3.32	(1.33)	0.00	1.14	0.00	0.00	2.07	(3.09)	106.78
RUFF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
ISDX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
ABLD	0.58	0.08	0.10	0.20	0.44	(0.71)	1.15	(1.06)	3.10
MJUS	3.08	(0.97)	0.00	16.35	0.00	0.00	5.71	(5.31)	30.14
TDSD	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
BMVP	0.50	0.03	0.02	0.11	0.54	(0.53)	1.11	(0.96)	3.43

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