Global X Correlations

XYLD Etf

USD 42.82 0.04 0.09%

The current 90-days correlation between Global X SP and Global X Russell is 0.79 (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.

Global X Correlation With Market

Very weak diversification

The correlation between Global X SP and DJI is 0.45 (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 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 bureau of economic analysis.

Moving together with Global Etf

0.69	RYLD	Global X Russell	Pair Corr
0.8	JEPQ	JPMorgan Nasdaq Equity	Pair Corr
0.82	NUSI	NEOS ETF Trust	Pair Corr
0.93	BUYW	Main Buywrite ETF	Pair Corr
0.65	GE	GE Aerospace Sell-off Trend	Pair Corr
0.75	WMT	Walmart Earnings Call This Week	Pair Corr
0.8	JPM	JPMorgan Chase	Pair Corr
0.64	IBM	International Business	Pair Corr
0.84	CSCO	Cisco Systems Aggressive Push	Pair Corr
0.86	BA	Boeing	Pair Corr
0.82	AXP	American Express	Pair Corr

Moving against Global Etf

0.6	KNG	FT Cboe Vest	Pair Corr
0.47	CRPT	First Trust SkyBridge	Pair Corr
0.78	AA	Alcoa Corp	Pair Corr
0.69	XOM	Exxon Mobil Corp	Pair Corr
0.63	TRV	The Travelers Companies	Pair Corr
0.56	INTC	Intel Aggressive Push	Pair Corr
0.42	PG	Procter Gamble	Pair Corr

Related Correlations Analysis

	RYLD	QYLD	NUSI	JEPI	DIVO
RYLD		0.73	0.76	0.59	0.77	RYLD
QYLD	0.73		0.86	0.0	0.3	QYLD
NUSI	0.76	0.86		0.14	0.35	NUSI
JEPI	0.59	0.0	0.14		0.91	JEPI
DIVO	0.77	0.3	0.35	0.91		DIVO
	RYLD	QYLD	NUSI	JEPI	DIVO

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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

DIVO	+ 0.91	JEPI
NUSI	+ 0.86	QYLD
DIVO	+ 0.77	RYLD
NUSI	+ 0.76	RYLD
QYLD	+ 0.73	RYLD
JEPI	+ 0.59	RYLD

High negative correlations

JEPI

- 0.0

QYLD

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
RYLD	0.40	0.03	0.04	0.10	0.66	(0.43)	0.86	(0.72)	3.55
QYLD	0.35	0.07	0.10	0.25	0.48	(0.38)	0.99	(0.71)	3.29
NUSI	0.46	0.06	0.08	0.29	0.61	(0.50)	0.92	(0.98)	3.12
JEPI	0.37	0.00	0.00	0.00	0.57	(0.39)	0.76	(0.85)	3.00
DIVO	0.43	0.03	0.04	0.05	0.54	(0.48)	0.83	(0.60)	3.21

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