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.
  
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

  0.92VGT Vanguard InformationPairCorr
  0.88XLK Technology Select SectorPairCorr
  0.94IYW iShares Technology ETFPairCorr
  0.8SMH VanEck Semiconductor ETFPairCorr
  0.82SOXX iShares Semiconductor ETFPairCorr
  0.92FTEC Fidelity MSCI InformationPairCorr
  0.93IGV iShares Expanded Tech Low VolatilityPairCorr
  0.94FDN First Trust DowPairCorr
  0.96IGM iShares Expanded TechPairCorr
  0.72USD ProShares Ultra SemiPairCorr
  0.87GBTC Grayscale Bitcoin TrustPairCorr
  0.97FNGO MicroSectors FANG IndexPairCorr
  0.75NAIL Direxion Daily Homeb Downward RallyPairCorr
  0.97FNGU MicroSectors FANG Index Symbol ChangePairCorr
  0.62GUSH Direxion Daily SPPairCorr
  0.83DUSL Direxion Daily IndusPairCorr
  0.84HPQ HP IncPairCorr
  0.82BAC Bank of America Sell-off TrendPairCorr
  0.86HD Home DepotPairCorr
  0.74MSFT MicrosoftPairCorr
  0.74BA BoeingPairCorr
  0.83DIS Walt DisneyPairCorr
  0.69WMT Walmart Aggressive PushPairCorr
  0.86AXP American Express Sell-off TrendPairCorr
  0.62AA Alcoa CorpPairCorr

Moving against Global Etf

  0.71TRV The Travelers CompaniesPairCorr
  0.48T ATT Inc Earnings Call This WeekPairCorr
  0.36CVX Chevron Corp Sell-off TrendPairCorr

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.