Global X Correlations

Etfs . USA . 
Etf . Global X CleanTech
CTEC Etf  USD 7.42  0.14  1.92%   
The current 90-days correlation between Global X CleanTech and Quadratic Interest Rate is 0.08 (i.e., Significant 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 CleanTech and DJI is -0.05 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Global X CleanTech 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 CleanTech. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in income.

Moving together with Global Etf

  0.94PBD Invesco Global CleanPairCorr
  0.65KROP Global X AgTechPairCorr
  0.69PFE Pfizer Inc Aggressive PushPairCorr
  0.72MRK Merck Company Fiscal Year End 6th of February 2025 PairCorr
  0.76KO Coca Cola Aggressive PushPairCorr

Moving against Global Etf

  0.72RSPY Tuttle Capital ManagementPairCorr
  0.72MEME Roundhill InvestmentsPairCorr
  0.67DSJA DSJAPairCorr
  0.65EOS Eaton Vance EnhancedPairCorr
  0.63ETH Grayscale Ethereum MiniPairCorr
  0.61TMAT Main Thematic Innovation Low VolatilityPairCorr
  0.59DIS Walt Disney Sell-off TrendPairCorr
  0.56INFL Horizon Kinetics InfPairCorr
  0.32PSP Invesco Global ListedPairCorr
  0.79JPM JPMorgan Chase Sell-off TrendPairCorr
  0.79BAC Bank of America Aggressive PushPairCorr
  0.75TRV The Travelers Companies Fiscal Year End 17th of January 2025 PairCorr
  0.63CSCO Cisco Systems Sell-off TrendPairCorr
  0.52T ATT Inc Fiscal Year End 22nd of January 2025 PairCorr
  0.52AXP American Express Fiscal Year End 24th of January 2025 PairCorr
  0.41HPQ HP IncPairCorr
  0.37INTC Intel Fiscal Year End 23rd of January 2025 PairCorr

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   
SVAL
+ 0.65
PFIX
PDBC
+ 0.52
FRDM
FRDM
+ 0.45
IVOL
PDBC
+ 0.39
PFIX
PDBC
+ 0.1
SVAL
  
High negative correlations   
PFIX
- 0.9
IVOL
SVAL
- 0.83
IVOL
FRDM
- 0.44
SVAL
PDBC
- 0.25
IVOL
FRDM
- 0.18
PFIX

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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