Global X Correlations

DJIA Etf

USD 22.50 0.16 0.72%

The current 90-days correlation between Global X Dow and Global X SP is 0.78 (i.e., Poor 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

Average diversification

The correlation between Global X Dow and DJI is 0.18 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Global X Dow and DJI in the same portfolio, assuming nothing else is changed.

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Global X Dow. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in gross domestic product.

Moving together with Global Etf

0.89	XYLD	Global X SP	Pair Corr
0.66	DIVO	Amplify CWP Enhanced	Pair Corr
0.89	RYLD	Global X Russell	Pair Corr
0.89	JEPQ	JPMorgan Nasdaq Equity	Pair Corr
0.92	NUSI	NEOS ETF Trust	Pair Corr
0.89	BUYW	Main Buywrite ETF	Pair Corr
0.84	MLPR	ETRACS Quarterly Pay	Pair Corr
0.9	GBTC	Grayscale Bitcoin Trust	Pair Corr
0.72	SGG	Barclays Capital	Pair Corr
0.86	AMZA	InfraCap MLP ETF	Pair Corr
0.89	VOX	Vanguard Communication	Pair Corr
0.84	BAC	Bank of America Fiscal Year End 10th of January 2025	Pair Corr
0.85	CSCO	Cisco Systems	Pair Corr
0.79	T	ATT Inc Fiscal Year End 22nd of January 2025	Pair Corr
0.87	WMT	Walmart	Pair Corr
0.9	DIS	Walt Disney	Pair Corr
0.86	JPM	JPMorgan Chase Fiscal Year End 10th of January 2025	Pair Corr

Moving against Global Etf

0.68	NRGU	Bank Of Montreal	Pair Corr
0.61	IDME	International Drawdown	Pair Corr
0.78	JNJ	Johnson Johnson Fiscal Year End 28th of January 2025	Pair Corr
0.7	KO	Coca Cola Sell-off Trend	Pair Corr
0.62	MRK	Merck Company Sell-off Trend	Pair Corr
0.52	DD	Dupont De Nemours Fiscal Year End 4th of February 2025	Pair Corr
0.4	GE	GE Aerospace Fiscal Year End 28th of January 2025	Pair Corr

Related Correlations Analysis

	XYLD	RYLD	XYLG	QYLG	XRMI
XYLD		0.77	0.93	0.93	1.0	XYLD
RYLD	0.77		0.9	0.84	0.75	RYLD
XYLG	0.93	0.9		0.95	0.91	XYLG
QYLG	0.93	0.84	0.95		0.92	QYLG
XRMI	1.0	0.75	0.91	0.92		XRMI
	XYLD	RYLD	XYLG	QYLG	XRMI

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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
XYLD	0.25	0.09	0.18	0.80	0.00	(0.27)	0.65	(0.43)	2.28
RYLD	0.43	0.05	0.05	0.73	0.59	(0.48)	1.10	(0.77)	5.40
XYLG	0.44	0.07	0.10	0.47	0.47	(0.45)	1.04	(0.92)	3.77
QYLG	0.53	0.10	0.10	0.93	0.66	(0.58)	1.30	(1.15)	3.92
XRMI	0.23	0.07	0.18	0.83	0.00	(0.28)	0.47	(0.43)	2.19

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