Global X Correlations

MILN Etf

USD 43.68 0.03 0.07%

The current 90-days correlation between Global X Millennials and Global X Social is 0.65 (i.e., Poor 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 Millennials 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 Millennials and DJI is -0.04 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Global X Millennials and DJI in the same portfolio, assuming nothing else is changed.

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Global X Millennials. 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

0.67	VUG	Vanguard Growth Index	Pair Corr
0.65	IWF	iShares Russell 1000	Pair Corr
0.72	IVW	iShares SP 500	Pair Corr
0.72	SPYG	SPDR Portfolio SP	Pair Corr
0.72	IUSG	iShares Core SP	Pair Corr
0.65	VONG	Vanguard Russell 1000	Pair Corr
0.65	MGK	Vanguard Mega Cap	Pair Corr
0.65	VRGWX	Vanguard Russell 1000	Pair Corr
0.69	QQQM	Invesco NASDAQ 100	Pair Corr
0.61	IWY	iShares Russell Top	Pair Corr
0.77	AXP	American Express	Pair Corr
0.87	WMT	Walmart	Pair Corr
0.76	BAC	Bank of America	Pair Corr

Moving against Global Etf

0.61	AMPD	Tidal Trust II	Pair Corr
0.37	TRV	The Travelers Companies	Pair Corr

Related Correlations Analysis

	SOCL	MGC	GURU	AOM	BFIT
SOCL		0.19	0.47	0.87	0.0	SOCL
MGC	0.19		0.93	0.35	0.0	MGC
GURU	0.47	0.93		0.57	0.0	GURU
AOM	0.87	0.35	0.57		0.0	AOM
BFIT	0.0	0.0	0.0	0.0		BFIT
	SOCL	MGC	GURU	AOM	BFIT

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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

GURU	+ 0.93	MGC
AOM	+ 0.87	SOCL
AOM	+ 0.57	GURU
GURU	+ 0.47	SOCL
AOM	+ 0.35	MGC
MGC	+ 0.19	SOCL

High negative correlations

BFIT	- 0.0	AOM
BFIT	- 0.0	GURU
BFIT	- 0.0	MGC
BFIT	- 0.0	SOCL

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
SOCL	1.16	0.08	0.10	(0.54)	1.42	(1.21)	2.14	(2.02)	8.03
MGC	0.82	(0.10)	0.00	1.56	0.00	0.00	1.28	(1.75)	4.93
GURU	0.86	(0.05)	0.00	0.55	0.00	0.00	1.56	(2.13)	4.36
AOM	0.36	0.02	0.17	1.32	0.41	(0.41)	0.62	(0.61)	2.22
BFIT	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

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