Global X Correlations
| BOSS Etf | USD 28.13 0.00 0.00% |
The current 90-days correlation between Global X and Global X Cloud is -0.03 (i.e., Good 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 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 and DJI in the same portfolio, assuming nothing else is changed.
Global |
Moving together with Global Etf
| 0.67 | IWP | iShares Russell Mid | PairCorr |
| 0.84 | ARKK | ARK Innovation ETF | PairCorr |
| 0.68 | FPX | First Trust Equity | PairCorr |
| 0.96 | DSJA | DSJA | PairCorr |
| 0.98 | RSPY | Tuttle Capital Management | PairCorr |
| 0.97 | MEME | Roundhill Investments | PairCorr |
| 0.81 | AXP | American Express Fiscal Year End 24th of January 2025 | PairCorr |
| 0.69 | JPM | JPMorgan Chase Fiscal Year End 10th of January 2025 | PairCorr |
| 0.76 | CSCO | Cisco Systems | PairCorr |
| 0.83 | WMT | Walmart | PairCorr |
| 0.67 | BA | Boeing Fiscal Year End 29th of January 2025 | PairCorr |
Moving against Global Etf
| 0.82 | XOM | Exxon Mobil Corp Fiscal Year End 7th of February 2025 | PairCorr |
| 0.37 | PMBS | PIMCO Mortgage Backed | PairCorr |
| 0.93 | JNJ | Johnson Johnson Fiscal Year End 28th of January 2025 | PairCorr |
| 0.86 | DD | Dupont De Nemours Fiscal Year End 4th of February 2025 | PairCorr |
| 0.78 | KO | Coca Cola Fiscal Year End 11th of February 2025 | PairCorr |
| 0.73 | GE | GE Aerospace Fiscal Year End 28th of January 2025 | PairCorr |
| 0.72 | PFE | Pfizer Inc Fiscal Year End 4th of February 2025 | PairCorr |
| 0.51 | INTC | Intel Fiscal Year End 23rd of January 2025 | PairCorr |
| 0.34 | MMM | 3M Company Fiscal Year End 28th of January 2025 | PairCorr |
Related Correlations Analysis
| Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| CLOU | 1.04 | 0.29 | 0.22 | 0.88 | 0.98 | 2.43 | 8.82 | |||
| IBUY | 0.91 | 0.12 | 0.09 | 0.50 | 1.13 | 2.34 | 7.69 | |||
| WCLD | 1.23 | 0.31 | 0.20 | 1.13 | 1.20 | 2.69 | 9.74 | |||
| FPX | 1.14 | 0.20 | 0.13 | 0.37 | 1.33 | 2.94 | 8.78 | |||
| ONLN | 0.95 | 0.00 | (0.01) | 0.00 | 1.19 | 1.96 | 7.33 |
Global X Related Equities
One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with Global X etf to make a market-neutral strategy. Peer analysis of Global X could also be used in its relative valuation, which is a method of valuing Global X by comparing valuation metrics with similar companies.
| Risk & Return | Correlation |