Global X Correlations

HYLG Etf

24.17 0.09 0.37%

The current 90-days correlation between Global X Funds and Global X Funds is 0.35 (i.e., 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

Weak diversification

The correlation between Global X Funds and DJI is 0.32 (i.e., Weak 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 Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Global X Funds. 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

0.81	KNG	FT Cboe Vest	Pair Corr
0.71	SIXH	ETC 6 Meridian	Pair Corr
0.79	IDME	International Drawdown	Pair Corr
0.66	NVDX	T Rex 2X Buyout Trend	Pair Corr
0.78	GE	GE Aerospace Fiscal Year End 28th of January 2025	Pair Corr
0.66	INTC	Intel Earnings Call Tomorrow	Pair Corr
0.65	VZ	Verizon Communications Sell-off Trend	Pair Corr
0.92	JNJ	Johnson Johnson Fiscal Year End 28th of January 2025	Pair Corr
0.84	DD	Dupont De Nemours Fiscal Year End 4th of February 2025	Pair Corr
0.77	HPQ	HP Inc	Pair Corr
0.78	KO	Coca Cola Fiscal Year End 11th of February 2025	Pair Corr
0.83	XOM	Exxon Mobil Corp Fiscal Year End 7th of February 2025	Pair Corr

Moving against Global Etf

0.91	VCAR	Simplify Volt RoboCar Symbol Change	Pair Corr
0.89	TSLL	Direxion Shares ETF Aggressive Push	Pair Corr
0.8	FNGU	MicroSectors FANG Index	Pair Corr
0.78	XYLD	Global X SP	Pair Corr
0.73	JEPQ	JPMorgan Nasdaq Equity	Pair Corr
0.72	NUSI	NEOS ETF Trust	Pair Corr
0.72	BITX	Volatility Shares Trust Low Volatility	Pair Corr
0.68	BUYW	Main Buywrite ETF	Pair Corr
0.52	CRPT	First Trust SkyBridge	Pair Corr
0.5	WTID	UBS ETRACS	Pair Corr
0.45	RYLD	Global X Russell	Pair Corr
0.69	BA	Boeing Earnings Call This Week	Pair Corr
0.61	AXP	American Express Earnings Call This Week	Pair Corr
0.61	CSCO	Cisco Systems Aggressive Push	Pair Corr
0.4	BAC	Bank of America	Pair Corr

Related Correlations Analysis

	FYLG	TYLG	XYLG	RYLG	QYLG
FYLG		0.55	0.79	0.83	0.59	FYLG
TYLG	0.55		0.85	0.57	0.87	TYLG
XYLG	0.79	0.85		0.6	0.94	XYLG
RYLG	0.83	0.57	0.6		0.46	RYLG
QYLG	0.59	0.87	0.94	0.46		QYLG
	FYLG	TYLG	XYLG	RYLG	QYLG

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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
FYLG	0.55	0.07	0.06	0.30	0.67	(0.61)	0.97	(0.91)	7.77
TYLG	0.67	0.04	0.01	0.76	0.97	(0.61)	1.18	(1.79)	4.44
XYLG	0.46	0.06	0.06	0.24	0.54	(0.46)	1.15	(1.15)	3.77
RYLG	0.69	0.03	0.01	0.23	0.88	(0.78)	1.45	(1.30)	7.74
QYLG	0.60	0.07	0.06	0.34	0.72	(0.64)	1.30	(1.29)	3.92

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