Global X Correlations

GXTG Etf

USD 23.70 0.16 0.67%

The current 90-days correlation between Global X Thematic and Global X E commerce is 0.83 (i.e., Very poor 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

Significant diversification

The correlation between Global X Thematic and DJI is 0.01 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Global X Thematic and DJI in the same portfolio, assuming nothing else is changed.

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Global X Thematic. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in estimate.

Moving together with Global Etf

0.69	PSP	Invesco Global Listed	Pair Corr
0.67	VRAI	Virtus Real Asset	Pair Corr
0.63	TMAT	Main Thematic Innovation	Pair Corr
0.63	CSCO	Cisco Systems	Pair Corr
0.69	WMT	Walmart	Pair Corr

Related Correlations Analysis

	EBIZ	BFIT	KRMA	GNOM	EDUT
EBIZ		0.0	0.58	0.24	0.0	EBIZ
BFIT	0.0		0.0	0.0	0.0	BFIT
KRMA	0.58	0.0		0.86	0.0	KRMA
GNOM	0.24	0.0	0.86		0.0	GNOM
EDUT	0.0	0.0	0.0	0.0		EDUT
	EBIZ	BFIT	KRMA	GNOM	EDUT

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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

GNOM	+ 0.86	KRMA
KRMA	+ 0.58	EBIZ
GNOM	+ 0.24	EBIZ
BFIT	+ 0.0	EBIZ
EDUT	+ 0.0	EBIZ
KRMA	+ 0.0	BFIT

High negative correlations

EDUT	- 0.0	GNOM
EDUT	- 0.0	KRMA
EDUT	- 0.0	BFIT
GNOM	- 0.0	BFIT
KRMA	- 0.0	BFIT
EDUT	- 0.0	EBIZ

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
EBIZ	1.24	0.02	0.06	0.32	1.39	(1.38)	2.41	(2.34)	6.18
BFIT	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
KRMA	0.76	(0.10)	0.00	1.30	0.00	0.00	1.41	(1.78)	3.96
GNOM	1.49	(0.22)	0.00	1.34	0.00	0.00	2.27	(3.01)	7.90
EDUT	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

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