Global X Correlations

Etfs . USA . 
Etf . Global X Infrastructure
PAVE Etf  USD 39.34  0.05  0.13%   
The current 90-days correlation between Global X Infrastructure and iShares Infrastructure ETF is 0.91 (i.e., Almost no 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

Poor diversification

The correlation between Global X Infrastructure and DJI is 0.69 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Global X Infrastructure and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Global X Infrastructure. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in real.

Moving together with Global Etf

  0.92IFRA iShares InfrastructurePairCorr
  0.85SIMS SPDR SP KenshoPairCorr
  0.8XKII SPDR Kensho IntelligentPairCorr
  0.85CAT CaterpillarPairCorr
  0.87BAC Bank of America Aggressive PushPairCorr
  0.62JPM JPMorgan ChasePairCorr
  0.79MSFT Microsoft Aggressive PushPairCorr
  0.9HD Home DepotPairCorr

Moving against Global Etf

  0.71VZ Verizon Communications Sell-off TrendPairCorr
  0.68INFR ClearBridge SustainablePairCorr
  0.65BABX GraniteShares 175x LongPairCorr
  0.64XPP ProShares Ultra FTSEPairCorr
  0.59BLLD JP Morgan ExchangePairCorr
  0.47NFRA FlexShares STOXX GlobalPairCorr
  0.42JNUG Direxion Daily JuniorPairCorr
  0.4TOLZ ProShares DJ BrookfieldPairCorr
  0.4GDXU MicroSectors Gold MinersPairCorr
  0.66TRV The Travelers CompaniesPairCorr
  0.65JNJ Johnson JohnsonPairCorr
  0.63KO Coca Cola Sell-off TrendPairCorr
  0.58T ATT Inc Aggressive PushPairCorr
  0.45PG Procter GamblePairCorr

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   
PEJ
+ 0.91
CLOU
CLOU
+ 0.77
IFRA
PEJ
+ 0.74
BUG
PEJ
+ 0.7
IFRA
BUG
+ 0.55
CLOU
BUG
+ 0.49
IFRA
  
High negative correlations   
ICLN
- 0.46
PEJ
ICLN
- 0.37
CLOU
ICLN
- 0.31
BUG
ICLN
- 0.26
IFRA

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.

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