Global X Correlations

Etfs . USA . 
Etf . Global X Artificial
AIQ Etf  USD 37.84  0.09  0.24%   
The current 90-days correlation between Global X Artificial and First Trust Nasdaq is 0.94 (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. If the correlation is 0, the equities are not correlated; they are entirely random.

Global X Correlation With Market

Very weak diversification

The correlation between Global X Artificial and DJI is 0.58 (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 Artificial 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 Artificial. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in gross domestic product.

Moving together with Global Etf

  0.77VGT Vanguard InformationPairCorr
  0.81XLK Technology Select SectorPairCorr
  0.81IYW iShares Technology ETFPairCorr
  0.71SMH VanEck Semiconductor ETFPairCorr
  0.73SOXX iShares Semiconductor ETFPairCorr
  0.85CIBR First Trust NASDAQPairCorr
  0.77FTEC Fidelity MSCI InformationPairCorr
  0.89IGV iShares Expanded Tech Low VolatilityPairCorr
  0.93FDN First Trust DowPairCorr
  0.89IGM iShares Expanded TechPairCorr
  0.61GBTC Grayscale Bitcoin TrustPairCorr
  0.84FNGO MicroSectors FANG IndexPairCorr
  0.76FNGU MicroSectors FANG Index Symbol ChangePairCorr
  0.79DUSL Direxion Daily IndusPairCorr
  0.72HPQ HP IncPairCorr
  0.74BAC Bank of America Sell-off TrendPairCorr
  0.73HD Home DepotPairCorr
  0.8BA BoeingPairCorr
  0.61DIS Walt DisneyPairCorr
  0.84WMT Walmart Aggressive PushPairCorr
  0.76AXP American Express Sell-off TrendPairCorr
  0.81JPM JPMorgan ChasePairCorr

Moving against Global Etf

  0.48TRV The Travelers CompaniesPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

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   
FINX
+ 0.92
BOTZ
SNSR
+ 0.9
BOTZ
BOTZ
+ 0.78
ROBT
FINX
+ 0.77
ROBT
SNSR
+ 0.77
FINX
SNSR
+ 0.74
ROBT
  
High negative correlations   
SNSR
- 0.0
IRBO
FINX
- 0.0
IRBO
BOTZ
- 0.0
IRBO
IRBO
- 0.0
ROBT

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.

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions
 
Feedback Blog
Made with optimal in San Francisco
2024 Macroaxis LLC
COMMON DESTINATIONS
MAIN CATEGORIES
COMPANY