Global X Correlations

Etfs . USA . 
Etf . Global X SP
XYLG Etf  USD 32.97  0.08  0.24%   
The current 90-days correlation between Global X SP and First Trust BuyWrite is 0.91 (i.e., Almost no 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 poor diversification

The correlation between Global X SP and DJI is 0.83 (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 bureau of economic analysis.

Moving together with Global Etf

  0.96JEPI JPMorgan Equity PremiumPairCorr
  0.99XYLD Global X SPPairCorr
  0.95DIVO Amplify CWP EnhancedPairCorr
  0.95RYLD Global X RussellPairCorr
  0.99JEPQ JPMorgan Nasdaq EquityPairCorr
  0.98NUSI NEOS ETF TrustPairCorr
  0.66KNG FT Cboe VestPairCorr
  0.85SIXH ETC 6 MeridianPairCorr
  0.95BUYW Main Buywrite ETFPairCorr
  0.89DSJA DSJAPairCorr
  0.85RSPY Tuttle Capital ManagementPairCorr
  0.86MEME Roundhill InvestmentsPairCorr
  0.84ITDD iShares TrustPairCorr
  0.84BTC Grayscale Bitcoin MiniPairCorr
  0.91INTC Intel Fiscal Year End 23rd of January 2025 PairCorr
  0.87BAC Bank of America Aggressive PushPairCorr
  0.81HD Home DepotPairCorr
  0.75T ATT Inc Sell-off TrendPairCorr
  0.81DIS Walt Disney Aggressive PushPairCorr
  0.95CSCO Cisco Systems Aggressive PushPairCorr
  0.93AA Alcoa Corp Fiscal Year End 15th of January 2025 PairCorr
  0.95AXP American Express Fiscal Year End 24th of January 2025 PairCorr
  0.85HPQ HP IncPairCorr
  0.79TRV The Travelers Companies Fiscal Year End 17th of January 2025 PairCorr

Moving against Global Etf

  0.83MRK Merck Company Fiscal Year End 6th of February 2025 PairCorr
  0.8JNJ Johnson Johnson Fiscal Year End 28th of January 2025 PairCorr
  0.72BA Boeing Fiscal Year End 29th of January 2025 PairCorr
  0.63PFE Pfizer Inc Aggressive PushPairCorr

Related Correlations Analysis

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