Global X Correlations

PFFV Etf

USD 23.86 0.01 0.04%

The current 90-days correlation between Global X Variable and Global X Preferred is 0.85 (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. If the correlation is 0, the equities are not correlated; they are entirely random.

Global X Correlation With Market

Significant diversification

The correlation between Global X Variable and DJI is 0.05 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Global X Variable 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 Variable. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in census.

Moving together with Global Etf

0.92	FPE	First Trust Preferred	Pair Corr
0.82	PGX	Invesco Preferred ETF	Pair Corr
0.68	PFFD	Global X Preferred	Pair Corr
0.73	VRP	Invesco Variable Rate	Pair Corr
0.87	PGF	Invesco Financial	Pair Corr
0.78	PSK	SPDR ICE Preferred	Pair Corr
0.88	FPEI	First Trust Institutional	Pair Corr
0.77	PFFA	Virtus InfraCap Preferred	Pair Corr
0.68	SHLD	Global X Funds	Pair Corr
0.72	GDXU	MicroSectors Gold Miners	Pair Corr
0.66	KO	Coca Cola	Pair Corr
0.66	JNJ	Johnson Johnson	Pair Corr
0.61	IBM	International Business	Pair Corr
0.7	T	ATT Inc Earnings Call Tomorrow	Pair Corr

Moving against Global Etf

0.41

Alcoa Corp

Pair Corr

Related Correlations Analysis

	PFFD	EMBD	ALTY	QDIV	XYLG
PFFD		0.34	0.72	0.48	0.44	PFFD
EMBD	0.34		0.76	0.42	-0.24	EMBD
ALTY	0.72	0.76		0.57	0.22	ALTY
QDIV	0.48	0.42	0.57		0.05	QDIV
XYLG	0.44	-0.24	0.22	0.05		XYLG
	PFFD	EMBD	ALTY	QDIV	XYLG

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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

ALTY	+ 0.76	EMBD
ALTY	+ 0.72	PFFD
QDIV	+ 0.57	ALTY
QDIV	+ 0.48	PFFD
XYLG	+ 0.44	PFFD
QDIV	+ 0.42	EMBD

High negative correlations

XYLG

- 0.24

EMBD

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
PFFD	0.46	0.00	0.12	0.07	0.52	(0.58)	0.92	(0.90)	3.11
EMBD	0.28	0.04	0.34	0.83	0.15	(0.36)	0.71	(0.48)	1.37
ALTY	0.42	0.04	0.21	(1.55)	0.43	(0.46)	0.87	(0.85)	2.23
QDIV	0.64	0.00	0.08	(0.22)	0.82	(0.65)	1.19	(1.35)	3.72
XYLG	0.68	(0.02)	0.00	(0.09)	0.00	0.00	1.28	(1.60)	4.42

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