Global X Correlations

Etfs . USA . 
Etf . Global X SP
CATH Etf  USD 68.09  0.75  1.11%   
The current 90-days correlation between Global X SP and Global X Conscious is 0.95 (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.

Global X Correlation With Market

Good diversification

The correlation between Global X SP and DJI is -0.09 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Global X SP 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 SP. 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

  1.0VTI Vanguard Total StockPairCorr
  1.0SPY SPDR SP 500PairCorr
  1.0IVV iShares Core SPPairCorr
  0.82VIG Vanguard DividendPairCorr
  1.0VV Vanguard Large CapPairCorr
  0.89RSP Invesco SP 500PairCorr
  1.0IWB iShares Russell 1000PairCorr
  0.74ESGU iShares ESG AwarePairCorr
  0.99DFAC Dimensional Core EquityPairCorr
  1.0SPLG SPDR Portfolio SPPairCorr
  0.7USD ProShares Ultra SemiPairCorr
  0.8GBTC Grayscale Bitcoin TrustPairCorr
  0.95FNGO MicroSectors FANG IndexPairCorr
  0.69NAIL Direxion Daily HomebPairCorr
  0.72FNGU MicroSectors FANG Index Symbol ChangePairCorr
  0.63GUSH Direxion Daily SPPairCorr
  0.87DUSL Direxion Daily IndusPairCorr
  0.84BA Boeing Buyout TrendPairCorr
  0.83AXP American ExpressPairCorr
  0.82DIS Walt DisneyPairCorr
  0.78JPM JPMorgan ChasePairCorr
  0.75BAC Bank of America Aggressive PushPairCorr
  0.65WMT WalmartPairCorr

Moving against Global Etf

  0.38PG Procter GamblePairCorr
  0.35MCD McDonaldsPairCorr
  0.33MRK Merck CompanyPairCorr
  0.32KO Coca Cola Sell-off TrendPairCorr

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   
CFO
+ 0.92
KRMA
CFO
+ 0.53
ALTY
ALTY
+ 0.44
EFAS
ALTY
+ 0.24
KRMA
BFIT
+ 0.0
KRMA
EFAS
+ 0.0
BFIT
  
High negative correlations   
EFAS
- 0.53
KRMA
CFO
- 0.33
EFAS
CFO
- 0.0
BFIT
ALTY
- 0.0
BFIT
EFAS
- 0.0
BFIT
BFIT
- 0.0
KRMA

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.

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