Global X Correlations

Delisted . USA . 
Etf . Global X Funds
FYLGDelisted Etf   29.63  0.00  0.00%   
The current 90-days correlation between Global X Funds and Global X Funds is 0.41 (i.e., Very weak 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

Average diversification

The correlation between Global X Funds and DJI is 0.12 (i.e., Average 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. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in bureau of economic analysis.

Moving together with Global Etf

  0.76NUSI NEOS ETF Trust Symbol ChangePairCorr
  0.61T ATT Inc Earnings Call This WeekPairCorr
  0.71MCD McDonaldsPairCorr

Moving against Global Etf

  0.67RYLD Global X RussellPairCorr
  0.58UPRO ProShares UltraPro SP500PairCorr
  0.53QTJA Innovator ETFs TrustPairCorr
  0.53XTOC Innovator ETFs TrustPairCorr
  0.53XTJA Innovator ETFs TrustPairCorr
  0.52JEPQ JPMorgan Nasdaq EquityPairCorr
  0.52QTOC Innovator ETFs TrustPairCorr
  0.48XYLD Global X SPPairCorr
  0.36DIVO Amplify CWP EnhancedPairCorr
  0.32BUYW Main Buywrite ETFPairCorr
  0.31QTAP Innovator Growth 100 Low VolatilityPairCorr
  0.78CAT CaterpillarPairCorr
  0.76BAC Bank of America Aggressive PushPairCorr
  0.75HD Home DepotPairCorr
  0.55AA Alcoa CorpPairCorr
  0.41JPM JPMorgan Chase Sell-off TrendPairCorr
  0.41DIS Walt DisneyPairCorr
  0.38BA BoeingPairCorr
  0.33WMT WalmartPairCorr

Related Correlations Analysis

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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   
JPM
+ 0.89
META
CRM
+ 0.89
MSFT
T
+ 0.79
UBER
CRM
+ 0.76
A
A
+ 0.66
MSFT
UBER
+ 0.63
META
  
High negative correlations   
MRK
- 0.86
UBER
T
- 0.78
MSFT
MRK
- 0.76
META
CRM
- 0.69
T
MRK
- 0.67
T
MRK
- 0.65
JPM

Global X Competition 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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
META  1.59 (0.03) 0.00 (0.11) 0.00 
 0.00 
 2.57 
(3.73)
 8.90 
MSFT  1.11 (0.16) 0.00 (0.31) 0.00 
 0.00 
 2.58 
(2.14)
 10.31 
UBER  1.87  0.33  0.15  0.56  2.19 
(2.00)
 4.72 
(3.13)
 12.75 
F  1.44  0.10  0.04  0.02  2.20 
(1.39)
 2.71 
(2.89)
 10.14 
T  1.05  0.27  0.17  0.41  1.61 
(1.12)
 1.90 
(1.75)
 11.66 
A  1.14 (0.14) 0.00 (0.23) 0.00 
 0.00 
 2.92 
(2.59)
 9.03 
CRM  1.40 (0.27) 0.00 (0.32) 0.00 
 0.00 
 2.72 
(3.81)
 8.88 
JPM  1.11  0.06  0.00 (0.02) 0.00 
 0.00 
 1.99 
(3.35)
 6.85 
MRK  1.16 (0.07) 0.00  0.80  0.00 
 0.00 
 2.07 
(1.80)
 11.58 
XOM  1.06  0.09  0.09  0.13  1.38 
(1.10)
 2.55 
(2.36)
 5.89 

Global X Related Equities

One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with Global X etf to make a market-neutral strategy. Peer analysis of Global X could also be used in its relative valuation, which is a method of valuing Global X by comparing valuation metrics with similar companies.
 Risk & Return  Correlation

Still Interested in Global X Funds?

Investing in delisted delisted etfs can be risky, as the etf is no longer traded on a public exchange and can therefore be difficult to sell. Delisting typically occurs when a company has failed to meet exchange requirements or has been acquired. Before investing, it's important to thoroughly research the company, including its financial health and prospects for the future, as well as the reasons for its delisting. Additionally, it may be difficult to find accurate and up-to-date information on the company and its stock.
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