Global X Correlations

BRAZ Etf

USD 22.32 0.00 0.00%

The current 90-days correlation between Global X Funds and Strategy Shares is 0.12 (i.e., Average 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

Weak diversification

The correlation between Global X Funds and DJI is 0.31 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Global X Funds 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 Funds. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in nation.

Moving together with Global Etf

0.96	EWZ	iShares MSCI Brazil Aggressive Push	Pair Corr
0.94	ILF	iShares Latin America	Pair Corr
0.93	FLBR	Franklin FTSE Brazil	Pair Corr
0.96	EWZS	iShares MSCI Brazil	Pair Corr
0.82	FLLA	Franklin FTSE Latin	Pair Corr
0.93	BRF	VanEck Brazil Small	Pair Corr
0.9	FBZ	First Trust Brazil	Pair Corr
0.8	GDXU	MicroSectors Gold Miners	Pair Corr
0.78	JNUG	Direxion Daily Junior	Pair Corr
0.74	SHNY	Microsectors Gold	Pair Corr
0.73	BKCI	BNY Mellon ETF	Pair Corr
0.7	IBM	International Business	Pair Corr
0.64	CVX	Chevron Corp	Pair Corr
0.61	JPM	JPMorgan Chase Sell-off Trend	Pair Corr

Moving against Global Etf

0.63	WTID	UBS ETRACS	Pair Corr
0.62	MRK	Merck Company	Pair Corr

Related Correlations Analysis

	DHSB	MBOX	HUSV	DINT	MCHI	QOWZ	DIVS	DIVY	DIVZ
DHSB		-0.12	-0.1	-0.06	-0.03	-0.1	-0.07	-0.1	-0.12	DHSB
MBOX	-0.12		0.57	0.25	0.18	0.6	0.54	0.92	0.73	MBOX
HUSV	-0.1	0.57		0.8	0.86	-0.25	0.94	0.72	0.95	HUSV
DINT	-0.06	0.25	0.8		0.93	-0.43	0.86	0.47	0.72	DINT
MCHI	-0.03	0.18	0.86	0.93		-0.58	0.85	0.39	0.77	MCHI
QOWZ	-0.1	0.6	-0.25	-0.43	-0.58		-0.24	0.38	-0.06	QOWZ
DIVS	-0.07	0.54	0.94	0.86	0.85	-0.24		0.69	0.91	DIVS
DIVY	-0.1	0.92	0.72	0.47	0.39	0.38	0.69		0.8	DIVY
DIVZ	-0.12	0.73	0.95	0.72	0.77	-0.06	0.91	0.8		DIVZ
	DHSB	MBOX	HUSV	DINT	MCHI	QOWZ	DIVS	DIVY	DIVZ

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

DIVZ	+ 0.95	HUSV
DIVS	+ 0.94	HUSV
MCHI	+ 0.93	DINT
DIVY	+ 0.92	MBOX
DIVZ	+ 0.91	DIVS
MCHI	+ 0.86	HUSV

High negative correlations

QOWZ	- 0.58	MCHI
QOWZ	- 0.43	DINT
QOWZ	- 0.25	HUSV
DIVS	- 0.24	QOWZ
DIVZ	- 0.12	DHSB
MBOX	- 0.12	DHSB

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
DHSB	0.38	(0.07)	0.00	(0.36)	0.00	0.00	0.82	(0.74)	1.68
MBOX	0.69	0.02	0.00	(0.05)	0.00	0.00	1.08	(1.40)	3.45
HUSV	0.57	0.07	0.15	0.08	0.67	(0.61)	1.10	(1.32)	3.02
DINT	1.01	0.12	0.10	0.10	1.35	(1.06)	2.03	(2.08)	8.79
MCHI	1.33	0.33	0.25	0.82	1.30	(1.55)	2.63	(2.42)	7.91
QOWZ	1.03	(0.05)	0.00	(0.13)	0.00	0.00	1.52	(2.47)	4.92
DIVS	0.61	0.06	0.12	0.05	0.76	(0.63)	1.18	(1.32)	3.19
DIVY	0.64	0.02	0.00	(0.05)	0.00	0.00	1.50	(1.31)	3.13
DIVZ	0.60	0.08	0.15	0.08	0.74	(0.65)	1.20	(1.22)	3.60

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