Global X Correlations

WNDY Etf

USD 10.14 0.12 1.17%

The current 90-days correlation between Global X Wind and Global X Solar is 0.82 (i.e., Very 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

Average diversification

The correlation between Global X Wind and DJI is 0.11 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Global X Wind and DJI in the same portfolio, assuming nothing else is changed.

Check out Your Current Watchlist to better understand how to build diversified portfolios, which includes a position in Global X Wind. 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

0.94	ICLN	iShares Global Clean	Pair Corr
0.81	TAN	Invesco Solar ETF	Pair Corr
0.63	ACES	ALPS Clean Energy	Pair Corr
0.88	MSOS	AdvisorShares Pure	Pair Corr
0.92	MJ	Amplify ETF Trust	Pair Corr
0.75	KO	Coca Cola Sell-off Trend	Pair Corr
0.7	XOM	Exxon Mobil Corp Fiscal Year End 7th of February 2025	Pair Corr
0.69	HPQ	HP Inc	Pair Corr
0.65	VZ	Verizon Communications Fiscal Year End 28th of January 2025	Pair Corr

Moving against Global Etf

0.8	GBTC	Grayscale Bitcoin Trust	Pair Corr
0.8	YCS	ProShares UltraShort Yen Potential Growth	Pair Corr
0.79	TBT	ProShares UltraShort	Pair Corr
0.74	ATMP	Barclays ETN Select Low Volatility	Pair Corr
0.68	MLPR	ETRACS Quarterly Pay	Pair Corr
0.67	SGG	Barclays Capital	Pair Corr
0.58	IPAY	Amplify ETF Trust	Pair Corr
0.55	DRIV	Global X Autonomous	Pair Corr
0.39	QCLN	First Trust NASDAQ	Pair Corr
0.76	CSCO	Cisco Systems Aggressive Push	Pair Corr
0.72	WMT	Walmart	Pair Corr
0.7	JPM	JPMorgan Chase	Pair Corr
0.64	DIS	Walt Disney	Pair Corr
0.6	BA	Boeing Earnings Call This Week	Pair Corr
0.58	BAC	Bank of America	Pair Corr

Related Correlations Analysis

	RAYS	RNRG	AQWA	KROP	AGNG
RAYS		0.78	0.63	0.68	0.8	RAYS
RNRG	0.78		0.64	0.6	0.9	RNRG
AQWA	0.63	0.64		0.81	0.73	AQWA
KROP	0.68	0.6	0.81		0.77	KROP
AGNG	0.8	0.9	0.73	0.77		AGNG
	RAYS	RNRG	AQWA	KROP	AGNG

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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
RAYS	2.06	(0.14)	0.00	(0.62)	0.00	0.00	3.47	(4.21)	15.79
RNRG	0.80	(0.22)	0.00	(0.89)	0.00	0.00	1.41	(2.18)	7.62
AQWA	0.73	(0.09)	0.00	(0.15)	0.00	0.00	1.40	(1.45)	6.05
KROP	0.80	0.00	(0.01)	0.03	1.04	(0.82)	2.26	(1.51)	5.26
AGNG	0.59	(0.08)	0.00	(0.49)	0.00	0.00	1.03	(1.56)	3.54

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