Global X Correlations

Etfs . USA . 
Etf . Global X FinTech
FINX Etf  USD 30.68  0.48  1.59%   
The current 90-days correlation between Global X FinTech and Amplify ETF Trust 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Global X Correlation With Market

Very weak diversification

The correlation between Global X FinTech and DJI is 0.4 (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 FinTech 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 FinTech. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in board of governors.

Moving together with Global Etf

  0.68VGT Vanguard InformationPairCorr
  0.68XLK Technology Select SectorPairCorr
  0.72IYW iShares Technology ETFPairCorr
  0.68FTEC Fidelity MSCI InformationPairCorr
  0.92IGV iShares Expanded TechPairCorr
  0.66FDN First Trust DowPairCorr
  0.73IGM iShares Expanded TechPairCorr
  0.74ARKW ARK Next GenerationPairCorr
  0.76WTMF WisdomTree ManagedPairCorr
  0.66EWC iShares MSCI CanadaPairCorr
  0.61IRET iREIT MarketVectorPairCorr

Related Correlations Analysis

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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.

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