Global X Correlations

EMM Etf

26.01 0.00 0.00%

The current 90-days correlation between Global X Funds and SPDR Global Dow is 0.67 (i.e., Poor 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 Funds moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Global X Correlation With Market

Very weak diversification

The correlation between Global X Funds and DJI is 0.41 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Global X Funds 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 Funds. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in population.

Moving together with Global Etf

0.72	MPAY	Akros Monthly Payout	Pair Corr
0.66	HD	Home Depot	Pair Corr
0.85	MSFT	Microsoft	Pair Corr
0.77	HPQ	HP Inc	Pair Corr
0.68	CAT	Caterpillar	Pair Corr
0.69	AXP	American Express	Pair Corr

Moving against Global Etf

0.85	BITI	ProShares Trust	Pair Corr
0.75	PULS	PGIM Ultra Short Sell-off Trend	Pair Corr
0.72	SPAQ	Horizon Kinetics SPAC	Pair Corr
0.45	FNDE	Schwab Fundamental	Pair Corr
0.42	PG	Procter Gamble	Pair Corr
0.39	CVX	Chevron Corp	Pair Corr
0.76	JNJ	Johnson Johnson	Pair Corr
0.68	VZ	Verizon Communications	Pair Corr
0.67	T	ATT Inc Earnings Call This Week	Pair Corr
0.53	MCD	McDonalds	Pair Corr
0.39	GE	GE Aerospace	Pair Corr
0.37	CSCO	Cisco Systems	Pair Corr
0.32	PFE	Pfizer Inc Sell-off Trend	Pair Corr

Related Correlations Analysis

	DGT	FDM	KCE	FDV	PWP
DGT		-0.06	-0.12	0.95	-0.29	DGT
FDM	-0.06		0.96	-0.09	0.87	FDM
KCE	-0.12	0.96		-0.15	0.95	KCE
FDV	0.95	-0.09	-0.15		-0.29	FDV
PWP	-0.29	0.87	0.95	-0.29		PWP
	DGT	FDM	KCE	FDV	PWP

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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

KCE	+ 0.96	FDM
FDV	+ 0.95	DGT
PWP	+ 0.95	KCE
PWP	+ 0.87	FDM

High negative correlations

PWP	- 0.29	FDV
PWP	- 0.29	DGT
FDV	- 0.15	KCE
KCE	- 0.12	DGT
FDV	- 0.09	FDM
FDM	- 0.06	DGT

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
DGT	0.64	0.12	0.15	0.10	0.80	(0.64)	1.37	(1.01)	4.27
FDM	1.01	(0.12)	0.00	(0.21)	0.00	0.00	1.79	(2.24)	5.07
KCE	1.12	(0.08)	0.00	(0.14)	0.00	0.00	1.97	(3.29)	6.86
FDV	0.61	0.07	0.11	0.08	0.88	(0.57)	1.20	(1.28)	3.88
PWP	2.22	(0.22)	0.00	(0.22)	0.00	0.00	4.67	(5.26)	14.41

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