Global X Correlations

EDOC Etf

USD 10.08 0.29 2.96%

The current 90-days correlation between Global X Telemedicine and Global X E commerce is 0.69 (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

Good diversification

The correlation between Global X Telemedicine and DJI is -0.04 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Global X Telemedicine 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 Telemedicine. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in persons.

Moving together with Global Etf

0.74	IBB	iShares Biotechnology ETF	Pair Corr
0.89	IHI	iShares Medical Devices	Pair Corr
0.9	ARKG	ARK Genomic Revolution Low Volatility	Pair Corr
0.7	DHF	BNY Mellon High	Pair Corr
0.9	ARP	Advisors Inner Circle	Pair Corr
0.74	PXMV	Invesco SP MidCap	Pair Corr
0.94	JPM	JPMorgan Chase	Pair Corr
0.68	BAC	Bank of America Aggressive Push	Pair Corr
0.61	CSCO	Cisco Systems	Pair Corr
0.63	BA	Boeing	Pair Corr
0.64	HD	Home Depot	Pair Corr
0.7	AXP	American Express	Pair Corr

Moving against Global Etf

0.32

TRV

The Travelers Companies

Pair Corr

Related Correlations Analysis

	EBIZ	GNOM	CLOU	FINX	BUG
EBIZ		0.23	0.6	0.49	0.97	EBIZ
GNOM	0.23		0.85	0.9	0.18	GNOM
CLOU	0.6	0.85		0.97	0.56	CLOU
FINX	0.49	0.9	0.97		0.45	FINX
BUG	0.97	0.18	0.56	0.45		BUG
	EBIZ	GNOM	CLOU	FINX	BUG

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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
EBIZ	1.28	0.05	0.06	(2.15)	1.38	(1.46)	2.45	(2.34)	6.18
GNOM	1.52	(0.18)	0.00	0.97	0.00	0.00	2.41	(3.01)	7.90
CLOU	1.30	(0.15)	0.00	0.90	0.00	0.00	2.14	(2.99)	8.59
FINX	1.30	(0.15)	0.00	3.93	0.00	0.00	2.49	(2.57)	7.96
BUG	1.12	0.06	0.07	(0.54)	1.40	(1.18)	2.91	(2.16)	7.86

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