Global X Correlations

BOTZ Etf

USD 30.34 0.19 0.62%

The current 90-days correlation between Global X Robotics and Robo Global Robotics is 0.93 (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 Robotics and DJI is 0.51 (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 Robotics 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 Robotics. 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

0.86	XT	iShares Exponential	Pair Corr
0.66	DRIV	Global X Autonomous	Pair Corr
0.8	IPAY	Amplify ETF Trust	Pair Corr
0.61	CAT	Caterpillar	Pair Corr
0.7	DIS	Walt Disney	Pair Corr
0.83	HD	Home Depot	Pair Corr
0.77	JPM	JPMorgan Chase	Pair Corr
0.81	HPQ	HP Inc	Pair Corr
0.75	WMT	Walmart	Pair Corr

Moving against Global Etf

0.59	TRV	The Travelers Companies	Pair Corr
0.45	ICLN	iShares Global Clean	Pair Corr
0.37	XPP	ProShares Ultra FTSE	Pair Corr
0.34	BABX	GraniteShares 175x Long	Pair Corr
0.36	KO	Coca Cola	Pair Corr
0.32	MRK	Merck Company	Pair Corr

Related Correlations Analysis

	ROBO	IRBO	CLOU	LIT	ARKQ
ROBO		0.0	0.84	0.31	0.79	ROBO
IRBO	0.0		0.0	0.0	0.0	IRBO
CLOU	0.84	0.0		0.35	0.91	CLOU
LIT	0.31	0.0	0.35		0.35	LIT
ARKQ	0.79	0.0	0.91	0.35		ARKQ
	ROBO	IRBO	CLOU	LIT	ARKQ

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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

ARKQ	+ 0.91	CLOU
CLOU	+ 0.84	ROBO
ARKQ	+ 0.79	ROBO
LIT	+ 0.35	CLOU
ARKQ	+ 0.35	LIT
LIT	+ 0.31	ROBO

High negative correlations

ARKQ	- 0.0	IRBO
LIT	- 0.0	IRBO
CLOU	- 0.0	IRBO
IRBO	- 0.0	ROBO

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	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
ROBO	1.08	(0.01)	(0.07)	1.98	(2.61)	6.81
IRBO	0.00	0.00	0.00	0.00	0.00	0.00
CLOU	1.31	(0.12)	(0.17)	1.92	(3.59)	8.59
LIT	1.02	(0.09)	(0.29)	1.91	(2.12)	5.44
ARKQ	1.83	(0.07)	(0.12)	3.44	(4.01)	11.12

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