GLOBAL X Correlations

Etfs . Canada . 
Etf . GLOBAL X HIGH
CASH Etf   50.08  0.01  0.02%   
The current 90-days correlation between GLOBAL X HIGH and iShares 1 5 Year is 0.09 (i.e., Significant diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as GLOBAL X moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if GLOBAL X HIGH moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

GLOBAL X Correlation With Market

Significant diversification

The correlation between GLOBAL X HIGH and DJI is 0.06 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding GLOBAL X HIGH and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to GLOBAL X could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace GLOBAL X when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back GLOBAL X - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling GLOBAL X HIGH to buy it.

Moving together with GLOBAL Etf

  1.0CMR iShares Premium MoneyPairCorr
  0.95EBIT Bitcoin ETF CADPairCorr
  0.95BTCQ 3iQ Bitcoin ETFPairCorr
  0.95FBTC Fidelity AdvantagePairCorr
  0.94BTCC Purpose Bitcoin CADPairCorr
  0.94ETC Evolve CryptocurrenciesPairCorr
  0.93CBCX CI Galaxy BlockchainPairCorr
  0.94BTCY Purpose Bitcoin YieldPairCorr
  0.94BITC Ninepoint Bitcoin ETFPairCorr
  0.89CLML CI Global ClimatePairCorr
  0.9FETH Fidelity Advantage EtherPairCorr
  0.67FINC Forstrong Global IncomePairCorr
  0.75TOCC TD One ClickPairCorr
  0.86FSL First Trust SeniorPairCorr
  0.84XCNS iShares Core ConservativePairCorr
  0.88FTN Financial 15 SplitPairCorr
  0.96TUED TD Active EnhancedPairCorr
  0.93EGIF Exemplar GrowthPairCorr
  0.9FHG FT AlphaDEX IndustrialsPairCorr
  0.87GDV Global Dividend GrowthPairCorr
  0.79ZWA BMO Covered CallPairCorr
  0.87PYF-B Purpose Fund CorpPairCorr
  0.97DRMU Desjardins RI USAPairCorr
  0.8VDY Vanguard FTSE CanadianPairCorr
  0.88XMU iShares MSCI MinPairCorr
  0.91PFAA Picton Mahoney FortifiedPairCorr
  0.94FLSA Fidelity LongShortPairCorr
  0.88XCD iShares SP GlobalPairCorr
  0.89MDVD Mackenzie Global SusPairCorr
  0.96VUN Vanguard Total MarketPairCorr
  0.72XSH iShares Core CanadianPairCorr
  0.91CMCX-B CI Galaxy MultiPairCorr

Related Correlations Analysis

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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   
JPM
+ 0.89
CRM
CRM
+ 0.88
T
JPM
+ 0.85
T
MSFT
+ 0.69
META
XOM
+ 0.67
UBER
MRK
+ 0.67
A
  
High negative correlations   
MRK
- 0.84
JPM
MRK
- 0.8
CRM
XOM
- 0.76
MSFT
CRM
- 0.75
UBER
MRK
- 0.72
T
T
- 0.7
UBER

GLOBAL X Competition 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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
META  1.16  0.06  0.03  0.15  1.43 
(1.27)
 2.62 
(3.15)
 7.43 
MSFT  0.87 (0.02)(0.02)(0.01) 1.63 
(0.78)
 1.78 
(2.23)
 8.14 
UBER  1.71 (0.32) 0.00 (0.34) 0.00 
 0.00 
 2.67 
(5.35)
 20.41 
F  1.44 (0.15) 0.00 (0.08) 0.00 
 0.00 
 2.53 
(2.90)
 11.21 
T  0.96  0.11  0.08  0.52  1.12 
(1.02)
 1.93 
(1.99)
 7.95 
A  1.24 (0.09) 0.00 (0.16) 0.00 
 0.00 
 2.71 
(2.42)
 9.02 
CRM  1.48  0.37  0.23  0.30  1.30 
(1.66)
 3.18 
(2.88)
 14.80 
JPM  1.04  0.16  0.14  0.11  1.08 
(1.20)
 1.99 
(1.44)
 15.87 
MRK  0.96 (0.27) 0.00 (1.10) 0.00 
 0.00 
 1.72 
(2.17)
 5.17 
XOM  0.90 (0.14) 0.00 (0.43) 0.00 
 0.00 
 1.83 
(2.14)
 6.06 

Be your own money manager

Our tools can tell you how much better you can do entering a position in GLOBAL X without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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