Global X MLP ETF Volatility

MLPX ETF

USD 72.49 -0.83 -1.13%

Global X's price history translates into the risk numbers analysts use to compare it with safer or riskier names. Its long-term beta is 0.41, meaning it tends to be less volatile than the market as a whole. The ETF shows very low price volatility over the last 3 months.

Sharpe Ratio = 0.129

Expected Return ↓

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Leading

Strong

Moderate

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Worst

← Lower RiskHigher Risk →

Global X MLP posted a Market Risk Adjusted Performance of -1.7%, a Risk of 1.00, and a Risk Adjusted Performance of 0.2% for the reported period. At roughly 10% of its observed historical range, the ETF is trading within its prior trend boundaries.

Key indicators related to Global X's volatility include:

90 Days Market Risk

Very Low

Chance Of Distress

Low

90 Days Economic Sensitivity

Moves indifferently to market moves

Key risk metrics for Global X (3 Months):

Beta

-0.1

Alpha

0.17

Risk

Sharpe Ratio

0.13

Expected Return

0.13

Assets With Similar Volatility

0.92	EMLP	First Trust North	Pair Corr
0.97	MLPA	Global X MLP	Pair Corr
0.99	TPYP	Tortoise North American	Pair Corr
0.94	AMZA	InfraCap MLP ETF	Pair Corr
0.97	MLPB	UBS AG London	Pair Corr
0.96	ATMP	Barclays ETN Select	Pair Corr
1.0	ENFR	Alerian Energy Infrastructure	Pair Corr
0.9	AMUB	UBS AG London	Pair Corr
0.64	BWET	ETF Managers Group	Pair Corr
0.92	AMJB	Alerian MLP Index	Pair Corr

Sensitivity To Market

Global X MLP exhibits a beta of -0.0971, representing its market-relative sensitivity. This coefficient separates systematic risk from company-specific volatility. Total return dispersion is approximately 1.0%. Global X MLP return patterns over the selected horizon reflect a very low level of variability, based on dispersion and downside-focused statistics. Standard deviation is near 0.98%. Creation/redemption activity keeps price closer to NAV, but volatility still rises during stress. Premium/discount to NAV is often expressed as (Price − NAV) / NAV × 100 when NAV is available.

Current 90-day Global X correlation with market (Dow Jones Industrial)

0.17

-0.0971

Competition

3 Months Beta |Global X MLP Demand Trend

Current 90-day Global X correlation with market (Dow Jones Industrial)

Downside Risk

For Global X, the standard deviation figure expresses the observed spread of daily returns over the selected period. The magnitude of Global X standard deviation determines where it falls on the volatility spectrum relative to peers.

Standard Deviation

1.0

Distinguishing between standard deviation and downside deviation sharpens the risk picture for Global X. Standard deviation reflects total return dispersion for Global X, while downside deviation captures only the adverse portion of Global X's returns. Global X MLP posted a Downside Deviation of 0.84, a Downside Variance of 0.71, and a Maximum Drawdown of 5.40 for the reported period.

ETF Volatility Analysis

For Global X, understanding volatility is essential to assessing portfolio risk contribution. It indicates how dramatically Global X's price swings over a specific time horizon.

Transformation

This analysis covers sixty-one data points across the selected time horizon. The Average Price transformation calculates the mean of Global X MLP's open, high, low, and close for each trading period. By incorporating all four price components equally, it provides a balanced representation of each period's trading activity. Compared to using the closing price alone, the average price reduces the influence of end-of-day positioning and can serve as a smoother input for other technical indicators.

Projected Return Density Against Market

Given a 90-day horizon, Global X MLP has a beta of -0.0971. This indicates that as returns on the benchmark increase, returns on Global X tend to move in the opposite direction, though by a smaller magnitude. During a bear market, however, Global X MLP tends to outperform the market.

The risk profile of Global X includes exposure to market fluctuations and company or sector-specific developments. Systematic components persist despite diversification. Global X MLP posted a Downside Deviation of 0.84, a Mean Deviation of 0.75, and a Semi Deviation of 0.69 for the reported period.

Global X MLP has an alpha of 0.1704, implying that it can generate a 0.1704 percent excess return over Dow Jones Industrial after adjusting for the inherent market risk (beta).

Predicted Return Distribution

Density

Global X's volatility is typically evaluated with standard deviation and beta. Standard deviation reflects how far Global X's returns usually move from the mean over the selected horizon.

What Drives Global X's Price Volatility?

Holdings and Allocation

Global X's volatility can rise when allocation drift or holdings turnover shifts across the Energy Limited Partnership category.

Political and Economic Environment

Changes in fiscal policy, rates, and growth expectations affect market-wide risk premiums and spill into Global X's trading.

Global X's Fund-Specific Factors

Fund flow dynamics, expense-ratio competitiveness, and index reconstitution events can create abrupt price dispersion in Global X.

ETF Risk Measures

Given a 90-day horizon, the coefficient of variation of Global X is 775.49. The daily returns are distributed with a variance of 1.01 and standard deviation of 1.0. The mean deviation of Global X MLP is currently at 0.78. For similar time horizon, the selected benchmark (Dow Jones Industrial) has volatility of 0.96

α	Alpha over Dow Jones	0.17	Details
β	Beta against Dow Jones	-0.0971	Details
σ	Overall volatility	1.00	Details
Ir	Information ratio	0.18	Details

ETF Return Volatility

Global X return volatility captures the typical daily swing in ETF returns relative to the mean over the selected period. The ETF has volatility of 1.0048% on return distribution over a 90-day investment horizon. Meanwhile, Dow Jones Industrial reported 0.9237% volatility on return distribution over a 90-day investment horizon.

Performance

Timeline

Related Correlations Analysis

	VGWLX	VGWAX	COPX	SPGP	INTF	DFGR	NFRA	AOA	GCOW	IVLU
VGWLX		1.0	0.65	0.94	0.94	0.9	0.66	0.97	0.45	0.91	VGWLX
VGWAX	1.0		0.65	0.93	0.94	0.91	0.66	0.97	0.45	0.91	VGWAX
COPX	0.65	0.65		0.63	0.69	0.64	0.63	0.56	0.31	0.75	COPX
SPGP	0.94	0.93	0.63		0.87	0.85	0.53	0.95	0.2	0.81	SPGP
INTF	0.94	0.94	0.69	0.87		0.84	0.6	0.89	0.57	0.97	INTF
DFGR	0.9	0.91	0.64	0.85	0.84		0.82	0.92	0.43	0.75	DFGR
NFRA	0.66	0.66	0.63	0.53	0.6	0.82		0.62	0.52	0.56	NFRA
AOA	0.97	0.97	0.56	0.95	0.89	0.92	0.62		0.33	0.81	AOA
GCOW	0.45	0.45	0.31	0.2	0.57	0.43	0.52	0.33		0.56	GCOW
IVLU	0.91	0.91	0.75	0.81	0.97	0.75	0.56	0.81	0.56		IVLU
	VGWLX	VGWAX	COPX	SPGP	INTF	DFGR	NFRA	AOA	GCOW	IVLU

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Global X Constituents Risk-Adjusted Indicators

Global X ETF can look attractive on recent price action while risk efficiency lags the peer group. Risk-adjusted metrics help compare Global X's efficiency and downside exposure against peers on a like-for-like basis. These indicators are quantitative in nature and measure volatility and risk-adjusted expected returns across different positions.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
VGWLX	0.50	0.04	0.07	-1.38	0.60	-0.51	1.11	-1.06	2.96
VGWAX	0.51	0.04	0.06	-0.77	0.67	-0.51	1.13	-1.05	3.17
COPX	2.75	0.02	0.01	-0.03	3.28	-2.95	6.53	-6.12	13.56
SPGP	0.89	0.03	0.03	-0.23	1.06	-0.93	1.97	-2.02	5.26
INTF	0.99	0.03	0.03	-0.17	1.26	-1.00	2.35	-1.93	5.47
DFGR	0.69	0.10	0.10	-0.96	0.79	-0.67	1.57	-1.41	4.38
NFRA	0.65	0.10	0.12	-0.90	0.68	-0.68	1.40	-1.13	3.66
AOA	0.71	0.06	0.08	-0.92	0.77	-0.78	1.60	-1.46	3.75
GCOW	0.61	0.03	0.04	-0.29	0.77	-0.63	1.32	-1.46	3.76
IVLU	0.97	0.02	0.02	-0.09	1.23	-1.09	2.25	-2.37	6.08

Risk Metrics, Assumptions & Methodology

Drawdown analysis for Global X measures the largest peak-to-trough declines and their duration within the fund's price history. Comparing drawdown depth across market phases shows whether downside risk is regime-dependent.

Global X MLP analytics rely on fund disclosures and market reference feeds, with quality checks and normalization applied. Volatility and downside metrics are estimated from historical return dispersion.

Editorial review and methodology oversight provided by: Ellen Johnson, Member of Macroaxis Editorial Board

Volatility Profile Summary

Recent data suggests that Global X MLP is more volatile than Dow Jones Industrial by approximately 1.09x over the selected horizon. This differential reflects the relative dispersion of returns and frames how the asset responds to broader market conditions. Observed price behavior indicates modest directional movement within the current volatility regime. Across the current 90-day horizon, that places the security below 8% of the broader equity and portfolio universe on a pure volatility basis. This positioning reflects relative dispersion compared to peers rather than extreme instability.

Global X MLP exhibits characteristics that tend to dampen sensitivity to smaller market fluctuations within the current volatility regime. This price-change note interprets the latest move in the context of short-horizon trading behavior. It gives extra weight to the size of the move, the quote level, and whether the instrument trades in a hype-prone venue. a somewhat bearish sentiment with potential for near-term correction. Return distributions derived from historical modeling outline a range of potential outcomes over the selected 90-day horizon. View Global X probability analysis.

Very strong inverse diversification

The correlation between Global X and Dow Jones is -0.57, which Macroaxis classifies as Very strong inverse diversification for the selected horizon. A -0.57 reading means Global X and Dow Jones have partial price overlap, providing moderate risk reduction when paired.

View Details

Additional Risk Indicators

Secondary risk indicators for Global X MLP evaluate exposure beyond standard deviation, beta, or one headline volatility measure. This is most informative when assessing whether the current opportunity is being compensated with reasonable risk.

	Risk Adjusted Performance	0.178
	Market Risk Adjusted Performance	-1.75
	Mean Deviation	0.7527
	Semi Deviation	0.6899
	Downside Deviation	0.8414
	Coefficient Of Variation	542.22
	Standard Deviation	0.9793

Global X Suggested Diversification Pairs

A pair-trading setup around Global X shifts the return benchmark from the broad market to a second position, altering the risk profile. The key question is whether the second leg adds real hedge value instead of just creating a more complex version of the same risk.

While pairing positions reduces portfolio risk, some forms of risk persist no matter which instruments are combined. No matter how well a pair is constructed around Global X, market-wide risk remains. What pair trading can address is Global X's unsystematic risk - the portion driven by company or sector-specific factors rather than broad market forces.

More Resources for Global X ETF Analysis

The market price of Global X MLP is influenced by its net asset value (NAV), which reflects the value of Global X underlying holdings.

Separating Global X's NAV from market price helps frame expectations more clearly. Global X's market quotation reflects the latest level where a willing buyer met a willing seller.

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