Global X Correlations

XTR Etf

USD 33.45 0.12 0.36%

The current 90-days correlation between Global X SP and FT Vest Equity is 0.63 (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

Very poor diversification

The correlation between Global X SP and DJI is 0.82 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Global X SP 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 SP. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in estimate.

Moving together with Global Etf

1.0	ACIO	Aptus Collared Income	Pair Corr
1.0	ADME	Aptus Drawdown Managed	Pair Corr
0.68	SWAN	Amplify BlackSwan Growth	Pair Corr
0.73	PHDG	Invesco SP 500	Pair Corr
0.97	MSTB	ETF Series Solutions	Pair Corr
0.99	HEGD	Swan Hedged Equity	Pair Corr
0.9	VAMO	Cambria Value	Pair Corr
0.99	HEQT	Simplify Exchange Traded	Pair Corr
0.96	GTR	WisdomTree Target Range	Pair Corr
0.99	VTI	Vanguard Total Stock	Pair Corr
1.0	SPY	SPDR SP 500 Aggressive Push	Pair Corr
1.0	IVV	iShares Core SP	Pair Corr
0.96	VTV	Vanguard Value Index	Pair Corr
0.98	VUG	Vanguard Growth Index	Pair Corr
0.98	VO	Vanguard Mid Cap	Pair Corr
0.95	VB	Vanguard Small Cap	Pair Corr
0.96	XLK	Technology Select Sector	Pair Corr
0.87	XLF	Financial Select Sector Aggressive Push	Pair Corr
0.75	IDGT	iShares Trust Symbol Change	Pair Corr
0.96	DIVB	iShares Dividend	Pair Corr
0.78	DISO	Tidal Trust II	Pair Corr
0.87	USFR	WisdomTree Floating Rate	Pair Corr
0.69	IDU	iShares Utilities ETF	Pair Corr
0.79	BTC	Grayscale Bitcoin Mini	Pair Corr
0.92	DIVG	Invesco Exchange Traded	Pair Corr
0.98	PUTW	WisdomTree CBOE SP	Pair Corr
0.83	MSTY	YieldMax MSTR Option	Pair Corr

Moving against Global Etf

0.71	BND	Vanguard Total Bond	Pair Corr
0.64	CCOR	Core Alternative ETF	Pair Corr
0.41	VEA	Vanguard FTSE Developed	Pair Corr

Related Correlations Analysis

	DHDG	MBCC	DIHP	DJAN	MDLV	DJUL	DJUN	SH	VV
DHDG		-0.03	0.44	-0.32	-0.04	-0.23	-0.24	0.13	-0.21	DHDG
MBCC	-0.03		-0.4	0.91	0.68	0.95	0.95	-0.95	0.95	MBCC
DIHP	0.44	-0.4		-0.61	0.03	-0.52	-0.53	0.44	-0.55	DIHP
DJAN	-0.32	0.91	-0.61		0.54	0.99	0.99	-0.96	0.99	DJAN
MDLV	-0.04	0.68	0.03	0.54		0.61	0.6	-0.57	0.56	MDLV
DJUL	-0.23	0.95	-0.52	0.99	0.61		1.0	-0.98	0.99	DJUL
DJUN	-0.24	0.95	-0.53	0.99	0.6	1.0		-0.98	1.0	DJUN
SH	0.13	-0.95	0.44	-0.96	-0.57	-0.98	-0.98		-0.99	SH
VV	-0.21	0.95	-0.55	0.99	0.56	0.99	1.0	-0.99		VV
	DHDG	MBCC	DIHP	DJAN	MDLV	DJUL	DJUN	SH	VV

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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

DJUN	+ 1.0	DJUL
VV	+ 1.0	DJUN
DJUL	+ 0.99	DJAN
DJUN	+ 0.99	DJAN
VV	+ 0.99	DJAN
VV	+ 0.99	DJUL

High negative correlations

VV	- 0.99	SH
SH	- 0.98	DJUN
SH	- 0.98	DJUL
SH	- 0.96	DJAN
SH	- 0.95	MBCC
DJAN	- 0.61	DIHP

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
DHDG	0.29	0.02	(0.14)	0.22	0.31	(0.29)	0.53	(0.68)	2.01
MBCC	0.54	0.00	(0.05)	0.12	0.59	(0.56)	1.12	(1.07)	3.36
DIHP	0.64	(0.15)	0.00	(0.17)	0.00	0.00	1.61	(1.53)	3.83
DJAN	0.18	0.01	(0.26)	0.15	0.17	(0.20)	0.48	(0.34)	1.36
MDLV	0.42	0.01	(0.12)	0.15	0.39	(0.47)	0.86	(0.80)	2.04
DJUL	0.30	0.00	(0.14)	0.12	0.31	(0.34)	0.73	(0.65)	2.11
DJUN	0.30	0.01	(0.13)	0.13	0.30	(0.33)	0.68	(0.67)	2.00
SH	0.55	0.02	0.00	0.10	0.00	0.00	1.37	(1.13)	4.64
VV	0.57	0.00	(0.01)	0.13	0.68	(0.59)	1.19	(1.27)	3.79

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