Global X Correlations

QDIV Etf

USD 35.24 0.06 0.17%

The current 90-days correlation between Global X SP and Global X Alternative is 0.46 (i.e., Very 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Global X Correlation With Market

Good diversification

The correlation between Global X SP and DJI is -0.03 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Global X SP 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 SP. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in gross domestic product.

Moving together with Global Etf

0.7	DVY	iShares Select Dividend	Pair Corr
0.83	FVD	First Trust Value	Pair Corr
0.86	NOBL	ProShares SP 500	Pair Corr

Related Correlations Analysis

	ALTY	EFAS	SDEM	XYLG	KRMA
ALTY		0.44	0.74	0.29	0.24	ALTY
EFAS	0.44		0.69	-0.5	-0.53	EFAS
SDEM	0.74	0.69		-0.28	-0.31	SDEM
XYLG	0.29	-0.5	-0.28		0.99	XYLG
KRMA	0.24	-0.53	-0.31	0.99		KRMA
	ALTY	EFAS	SDEM	XYLG	KRMA

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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

KRMA	+ 0.99	XYLG
SDEM	+ 0.74	ALTY
SDEM	+ 0.69	EFAS
EFAS	+ 0.44	ALTY
XYLG	+ 0.29	ALTY
KRMA	+ 0.24	ALTY

High negative correlations

KRMA	- 0.53	EFAS
XYLG	- 0.5	EFAS
KRMA	- 0.31	SDEM
XYLG	- 0.28	SDEM

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
ALTY	0.42	0.05	0.23	(0.91)	0.44	(0.45)	0.87	(0.85)	2.23
EFAS	0.64	0.18	0.32	(2.04)	0.48	(0.74)	1.60	(1.01)	3.64
SDEM	0.64	0.15	0.27	(4.75)	0.54	(0.71)	1.29	(1.40)	3.87
XYLG	0.68	(0.07)	0.00	0.48	0.00	0.00	1.16	(1.60)	4.42
KRMA	0.77	(0.08)	0.00	0.59	0.00	0.00	1.41	(1.78)	3.96

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