Global X Correlations

BITS Etf

USD 75.75 2.54 3.47%

The current 90-days correlation between Global X Blockchain and iShares Dividend and is 0.5 (i.e., Very weak 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

Good diversification

The correlation between Global X Blockchain and DJI is -0.03 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Global X Blockchain 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 Blockchain. 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

0.97	GBTC	Grayscale Bitcoin Trust	Pair Corr
0.98	BITO	ProShares Bitcoin Aggressive Push	Pair Corr
1.0	BLOK	Amplify Transformational	Pair Corr
0.89	BLCN	Siren Nasdaq NexGen	Pair Corr
0.99	BITQ	Bitwise Crypto Industry	Pair Corr
0.98	SPBC	Simplify Equity PLUS	Pair Corr
0.97	BTC	Grayscale Bitcoin Mini	Pair Corr
0.99	DAPP	VanEck Digital Trans	Pair Corr
0.99	CRPT	First Trust SkyBridge	Pair Corr
0.89	WMT	Walmart	Pair Corr
0.89	CSCO	Cisco Systems	Pair Corr
0.64	MSFT	Microsoft	Pair Corr
0.92	DIS	Walt Disney Sell-off Trend	Pair Corr

Moving against Global Etf

0.87	VXX	iPath Series B	Pair Corr
0.78	EMC	Global X Funds	Pair Corr
0.6	INTL	Main International ETF	Pair Corr
0.36	LUX	Tema ETF Trust	Pair Corr
0.76	JNJ	Johnson Johnson Fiscal Year End 28th of January 2025	Pair Corr
0.56	GE	GE Aerospace Fiscal Year End 28th of January 2025	Pair Corr
0.54	DD	Dupont De Nemours Fiscal Year End 4th of February 2025	Pair Corr
0.49	XOM	Exxon Mobil Corp Aggressive Push	Pair Corr
0.47	MCD	McDonalds Fiscal Year End 3rd of February 2025	Pair Corr

Related Correlations Analysis

	DIVB	MCSE	MDCP	EV	GK	MJ	PP	XT	METV
DIVB		-0.07	0.93	-0.07	0.48	-0.04	0.39	0.49	0.16	DIVB
MCSE	-0.07		0.12	0.75	-0.54	0.81	0.65	0.02	-0.64	MCSE
MDCP	0.93	0.12		0.15	0.28	0.15	0.45	0.4	-0.04	MDCP
EV	-0.07	0.75	0.15		-0.4	0.5	0.53	0.12	-0.42	EV
GK	0.48	-0.54	0.28	-0.4		-0.73	0.07	0.74	0.88	GK
MJ	-0.04	0.81	0.15	0.5	-0.73		0.37	-0.39	-0.89	MJ
PP	0.39	0.65	0.45	0.53	0.07	0.37		0.55	-0.05	PP
XT	0.49	0.02	0.4	0.12	0.74	-0.39	0.55		0.66	XT
METV	0.16	-0.64	-0.04	-0.42	0.88	-0.89	-0.05	0.66		METV
	DIVB	MCSE	MDCP	EV	GK	MJ	PP	XT	METV

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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

MDCP	+ 0.93	DIVB
METV	+ 0.88	GK
MJ	+ 0.81	MCSE
EV	+ 0.75	MCSE
XT	+ 0.74	GK
METV	+ 0.66	XT

High negative correlations

METV	- 0.89	MJ
MJ	- 0.73	GK
METV	- 0.64	MCSE
GK	- 0.54	MCSE
METV	- 0.42	EV
GK	- 0.4	EV

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
DIVB	0.53	(0.02)	0.00	(0.10)	0.00	0.00	1.11	(0.76)	5.73
MCSE	0.74	(0.22)	0.00	2.86	0.00	0.00	1.16	(2.10)	5.39
MDCP	0.68	(0.09)	0.00	(0.21)	0.00	0.00	1.34	(1.15)	5.94
EV	1.20	(0.16)	0.00	6.35	0.00	0.00	2.26	(2.79)	6.73
GK	0.69	0.06	0.04	0.63	1.10	(0.64)	1.23	(1.34)	4.93
MJ	1.98	(0.39)	0.00	7.57	0.00	0.00	3.61	(3.30)	24.25
PP	0.98	(0.16)	0.00	(0.47)	0.00	0.00	2.28	(2.09)	9.37
XT	0.71	0.00	(0.01)	0.03	1.01	(0.70)	1.22	(1.65)	4.92
METV	0.92	0.16	0.13	3.50	0.97	(1.06)	2.09	(1.41)	6.62

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