Global X Correlations

AGNG Etf

USD 31.84 0.20 0.63%

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

Good diversification

The correlation between Global X Aging and DJI is -0.06 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Global X Aging and DJI in the same portfolio, assuming nothing else is changed.

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Global X Aging. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in board of governors.

Moving together with Global Etf

0.95	XLV	Health Care Select	Pair Corr
0.87	VHT	Vanguard Health Care	Pair Corr
0.64	IHI	iShares Medical Devices	Pair Corr
0.9	IXJ	iShares Global Healthcare	Pair Corr
0.87	IYH	iShares Healthcare ETF	Pair Corr
0.72	FHLC	Fidelity MSCI Health	Pair Corr
0.73	PMBS	PIMCO Mortgage Backed	Pair Corr
0.75	YCL	ProShares Ultra Yen Potential Growth	Pair Corr
0.69	FXY	Invesco CurrencyShares	Pair Corr
0.65	KO	Coca Cola	Pair Corr
0.67	JNJ	Johnson Johnson	Pair Corr
0.68	DD	Dupont De Nemours	Pair Corr
0.73	IBM	International Business	Pair Corr
0.61	MCD	McDonalds	Pair Corr
0.61	MMM	3M Company	Pair Corr
0.64	GE	GE Aerospace	Pair Corr

Moving against Global Etf

0.58	MRK	Merck Company	Pair Corr
0.44	AA	Alcoa Corp	Pair Corr

Related Correlations Analysis

	BFIT	AQWA	RNRG	GXTG	KROP
BFIT		0.0	0.0	0.0	0.0	BFIT
AQWA	0.0		-0.41	0.7	0.72	AQWA
RNRG	0.0	-0.41		-0.31	-0.5	RNRG
GXTG	0.0	0.7	-0.31		0.52	GXTG
KROP	0.0	0.72	-0.5	0.52		KROP
	BFIT	AQWA	RNRG	GXTG	KROP

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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

KROP	+ 0.72	AQWA
GXTG	+ 0.7	AQWA
KROP	+ 0.52	GXTG
AQWA	+ 0.0	BFIT
RNRG	+ 0.0	BFIT
GXTG	+ 0.0	BFIT

High negative correlations

KROP	- 0.5	RNRG
RNRG	- 0.41	AQWA
GXTG	- 0.31	RNRG
KROP	- 0.0	BFIT
GXTG	- 0.0	BFIT
RNRG	- 0.0	BFIT

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
BFIT	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
AQWA	0.72	0.06	0.11	0.02	0.69	(0.91)	1.64	(1.05)	3.39
RNRG	0.74	(0.02)	0.00	0.67	0.00	0.00	1.31	(2.18)	4.26
GXTG	0.86	0.06	0.08	0.02	1.03	(0.90)	1.97	(1.71)	4.49
KROP	1.04	0.10	0.14	(6.33)	1.10	(1.15)	2.33	(2.01)	6.06

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