Global X Correlations
FINX Etf | USD 28.65 0.10 0.35% |
The current 90-days correlation between Global X FinTech and Amplify ETF Trust is 0.1 (i.e., Average 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
Good diversification
The correlation between Global X FinTech and DJI is -0.1 (i.e., Good 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.
Global |
Moving together with Global Etf
0.92 | VGT | Vanguard Information | PairCorr |
0.88 | XLK | Technology Select Sector | PairCorr |
0.94 | IYW | iShares Technology ETF | PairCorr |
0.8 | SMH | VanEck Semiconductor ETF | PairCorr |
0.82 | SOXX | iShares Semiconductor ETF | PairCorr |
0.92 | FTEC | Fidelity MSCI Information | PairCorr |
0.93 | IGV | iShares Expanded Tech Low Volatility | PairCorr |
0.94 | FDN | First Trust Dow | PairCorr |
0.96 | IGM | iShares Expanded Tech | PairCorr |
0.72 | USD | ProShares Ultra Semi | PairCorr |
0.87 | GBTC | Grayscale Bitcoin Trust | PairCorr |
0.97 | FNGO | MicroSectors FANG Index | PairCorr |
0.75 | NAIL | Direxion Daily Homeb Downward Rally | PairCorr |
0.97 | FNGU | MicroSectors FANG Index Symbol Change | PairCorr |
0.62 | GUSH | Direxion Daily SP | PairCorr |
0.83 | DUSL | Direxion Daily Indus | PairCorr |
0.84 | HPQ | HP Inc | PairCorr |
0.82 | BAC | Bank of America Sell-off Trend | PairCorr |
0.86 | HD | Home Depot | PairCorr |
0.74 | MSFT | Microsoft | PairCorr |
0.74 | BA | Boeing | PairCorr |
0.83 | DIS | Walt Disney | PairCorr |
0.69 | WMT | Walmart Aggressive Push | PairCorr |
0.86 | AXP | American Express Sell-off Trend | PairCorr |
0.62 | AA | Alcoa Corp | PairCorr |
Moving against Global Etf
0.71 | TRV | The Travelers Companies | PairCorr |
0.48 | T | ATT Inc Earnings Call This Week | PairCorr |
0.36 | CVX | Chevron Corp Sell-off Trend | PairCorr |
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.Mean Deviation | Jensen Alpha | Sortino Ratio | Treynor Ratio | Semi Deviation | Expected Shortfall | Potential Upside | Value @Risk | Maximum Drawdown | ||
---|---|---|---|---|---|---|---|---|---|---|
IPAY | 1.10 | (0.11) | 0.00 | (6.77) | 0.00 | 2.03 | 6.01 | |||
CLOU | 1.32 | (0.14) | 0.00 | (0.20) | 0.00 | 1.92 | 8.59 | |||
SNSR | 1.00 | (0.03) | 0.00 | (0.86) | 0.00 | 2.07 | 5.56 | |||
SKYY | 1.41 | (0.23) | 0.00 | 2.33 | 0.00 | 2.00 | 8.80 | |||
BOTZ | 1.28 | (0.10) | 0.00 | 1.98 | 0.00 | 2.33 | 7.17 |