Global X Correlations

ALTY Etf

USD 11.84 0.04 0.34%

The current 90-days correlation between Global X Alternative and First Trust Multi Asset is 0.77 (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. If the correlation is 0, the equities are not correlated; they are entirely random.

Global X Correlation With Market

Poor diversification

The correlation between Global X Alternative and DJI is 0.63 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Global X Alternative 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 Alternative. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in estimate.

Moving together with Global Etf

0.96	MDIV	First Trust Multi	Pair Corr
0.71	CVY	Invesco Zacks Multi	Pair Corr
0.95	HIPS	GraniteShares HIPS High	Pair Corr
0.84	XLV	Health Care Select	Pair Corr
0.87	EMLP	First Trust North	Pair Corr
0.66	KBUF	KraneShares Trust	Pair Corr
0.92	AMJB	JPMorgan Chase Financial	Pair Corr
0.7	CGRO	Tidal Trust II	Pair Corr
0.91	FT	Franklin Universal Closed	Pair Corr
0.92	MLPB	UBS AG London	Pair Corr
0.79	VXUS	Vanguard Total Inter	Pair Corr
0.78	ACWV	iShares MSCI Global	Pair Corr
0.68	MYCJ	SPDR SSGA My2030	Pair Corr
0.76	GHMS	Goose Hollow Multi	Pair Corr
0.74	GSEU	Goldman Sachs ActiveBeta	Pair Corr
0.64	LIAE	Stone Ridge 2050	Pair Corr
0.78	BKT	BlackRock Income Closed	Pair Corr
0.73	DFGP	Dimensional Global Core	Pair Corr
0.74	EUSC	WisdomTree Europe Hedged	Pair Corr
0.74	IMAY	Innovator ETFs Trust	Pair Corr
0.68	IIGD	Invesco Investment Grade	Pair Corr
0.73	EEMX	SPDR MSCI Emerging	Pair Corr

Moving against Global Etf

0.33

NAIL

Direxion Daily Homeb Downward Rally

Pair Corr

Related Correlations Analysis

	MDIV	MFUL	MPAY	MPRO	DWAT	MRSK	MSMR	EAOA	EAOK
MDIV		0.84	0.21	0.8	0.52	-0.04	0.12	0.52	0.89	MDIV
MFUL	0.84		0.55	0.93	0.78	0.37	0.47	0.83	0.9	MFUL
MPAY	0.21	0.55		0.53	0.93	0.92	0.94	0.9	0.29	MPAY
MPRO	0.8	0.93	0.53		0.75	0.41	0.42	0.82	0.93	MPRO
DWAT	0.52	0.78	0.93	0.75		0.77	0.85	0.97	0.57	DWAT
MRSK	-0.04	0.37	0.92	0.41	0.77		0.89	0.79	0.12	MRSK
MSMR	0.12	0.47	0.94	0.42	0.85	0.89		0.82	0.16	MSMR
EAOA	0.52	0.83	0.9	0.82	0.97	0.79	0.82		0.65	EAOA
EAOK	0.89	0.9	0.29	0.93	0.57	0.12	0.16	0.65		EAOK
	MDIV	MFUL	MPAY	MPRO	DWAT	MRSK	MSMR	EAOA	EAOK

Click cells to compare fundamentals

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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

EAOA	+ 0.97	DWAT
MSMR	+ 0.94	MPAY
MPRO	+ 0.93	MFUL
DWAT	+ 0.93	MPAY
EAOK	+ 0.93	MPRO
MRSK	+ 0.92	MPAY

High negative correlations

MRSK

- 0.04

MDIV

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
MDIV	0.43	0.03	0.13	0.02	0.54	(0.48)	0.86	(0.85)	2.20
MFUL	0.19	0.00	0.00	(0.08)	0.00	0.00	0.42	(0.37)	1.20
MPAY	0.74	(0.02)	0.00	(0.10)	0.00	0.00	1.13	(2.02)	4.73
MPRO	0.37	0.00	0.00	(0.06)	0.00	0.00	0.74	(0.78)	1.83
DWAT	0.68	0.00	0.00	(0.07)	0.00	0.00	1.22	(1.72)	3.90
MRSK	0.57	(0.07)	0.00	(0.19)	0.00	0.00	1.09	(1.29)	3.38
MSMR	0.47	(0.03)	0.00	(0.16)	0.00	0.00	1.04	(1.03)	3.32
EAOA	0.59	0.00	0.00	(0.07)	0.00	0.00	1.02	(1.32)	3.65
EAOK	0.27	0.01	0.15	(0.02)	0.38	(0.28)	0.55	(0.54)	1.65

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