Global X Correlations

HERO Etf

USD 25.79 0.05 0.19%

The current 90-days correlation between Global X Video and GameSquare Holdings is 0.01 (i.e., Significant diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Global X moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Global X Video moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Global X Correlation With Market

Good diversification

The correlation between Global X Video and DJI is -0.02 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Global X Video 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 Video. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in metropolitan statistical area.

Moving together with Global Etf

0.72	IYZ	IShares Telecommunicatio	Pair Corr
0.95	ESPO	VanEck Video Gaming	Pair Corr
0.72	IXP	iShares Global Comm	Pair Corr
0.91	SOCL	Global X Social	Pair Corr
0.89	GAMR	Amplify ETF Trust	Pair Corr
0.8	PSLV	Sprott Physical Silver Earnings Call This Week	Pair Corr
0.69	SPPP	Sprott Physical Platinum	Pair Corr
0.77	HART	IQ Healthy Hearts	Pair Corr
0.87	VPL	Vanguard FTSE Pacific	Pair Corr
0.83	QLTI	2023 ETF	Pair Corr
0.72	JNJ	Johnson Johnson	Pair Corr
0.62	GE	GE Aerospace	Pair Corr
0.69	VZ	Verizon Communications	Pair Corr
0.67	CSCO	Cisco Systems	Pair Corr
0.65	PG	Procter Gamble	Pair Corr
0.73	MCD	McDonalds	Pair Corr

Moving against Global Etf

0.43	TINY	ProShares Nanotechnology	Pair Corr
0.75	MRK	Merck Company	Pair Corr
0.47	MSFT	Microsoft	Pair Corr
0.41	AA	Alcoa Corp	Pair Corr

Related Correlations Analysis

	ESPO	NERD	GAMR	BNGE	GAME
ESPO		0.98	0.98	0.98	0.14	ESPO
NERD	0.98		0.98	0.96	0.25	NERD
GAMR	0.98	0.98		0.96	0.22	GAMR
BNGE	0.98	0.96	0.96		0.13	BNGE
GAME	0.14	0.25	0.22	0.13		GAME
	ESPO	NERD	GAMR	BNGE	GAME

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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
ESPO	1.09	0.09	0.13	(1.07)	1.20	(1.24)	2.13	(1.87)	6.45
NERD	1.10	0.09	0.13	(0.77)	1.23	(1.33)	2.26	(1.98)	8.08
GAMR	1.11	0.04	0.09	(0.26)	1.33	(1.25)	2.38	(1.89)	7.55
BNGE	1.02	0.10	0.13	(1.18)	1.17	(1.13)	2.04	(1.62)	6.40
GAME	3.68	(0.10)	0.00	(0.27)	0.00	0.00	6.10	(10.00)	26.81

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