Global X Correlations

BKCH Etf

USD 37.34 0.17 0.45%

The current 90-days correlation between Global X Blockchain and VanEck Digital Transformation is 0.99 (i.e., No risk reduction). 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 Blockchain and DJI is -0.1 (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 main economic indicators.

Moving together with Global Etf

0.72	KRE	SPDR SP Regional Aggressive Push	Pair Corr
0.69	KBE	SPDR SP Bank	Pair Corr
0.65	FXO	First Trust Financials	Pair Corr
0.81	IAT	iShares Regional Banks	Pair Corr
0.63	CPST	Calamos ETF Trust	Pair Corr
0.77	AXP	American Express	Pair Corr
0.63	CAT	Caterpillar	Pair Corr

Moving against Global Etf

0.81	BITI	ProShares Trust Downward Rally	Pair Corr
0.77	SPAQ	Horizon Kinetics SPAC	Pair Corr
0.73	EUFN	iShares MSCI Europe	Pair Corr
0.65	PULS	PGIM Ultra Short Sell-off Trend	Pair Corr
0.55	GDXU	MicroSectors Gold Miners	Pair Corr
0.55	JNJ	Johnson Johnson Sell-off Trend	Pair Corr
0.62	TRV	The Travelers Companies	Pair Corr

Related Correlations Analysis

	DAPP	BITQ	LEGR	CRPT	BITS
DAPP		1.0	-0.55	0.99	0.99	DAPP
BITQ	1.0		-0.47	0.99	0.99	BITQ
LEGR	-0.55	-0.47		-0.46	-0.49	LEGR
CRPT	0.99	0.99	-0.46		1.0	CRPT
BITS	0.99	0.99	-0.49	1.0		BITS
	DAPP	BITQ	LEGR	CRPT	BITS

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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

BITQ	+ 1.0	DAPP
BITS	+ 1.0	CRPT
CRPT	+ 0.99	DAPP
BITS	+ 0.99	DAPP
CRPT	+ 0.99	BITQ
BITS	+ 0.99	BITQ

High negative correlations

LEGR	- 0.55	DAPP
BITS	- 0.49	LEGR
LEGR	- 0.47	BITQ
CRPT	- 0.46	LEGR

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
DAPP	3.22	(0.53)	0.00	0.99	0.00	0.00	6.12	(8.02)	24.23
BITQ	2.82	(0.35)	0.00	0.72	0.00	0.00	5.69	(6.23)	20.53
LEGR	0.65	0.09	0.16	17.94	0.66	(0.71)	1.34	(1.23)	4.17
CRPT	3.06	(0.38)	0.00	0.78	0.00	0.00	6.70	(7.61)	21.68
BITS	2.59	(0.35)	0.00	0.63	0.00	0.00	5.18	(5.76)	16.95

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