Global X Correlations

QTR Etf

USD 29.06 0.17 0.58%

The current 90-days correlation between Global X NASDAQ and Global X NASDAQ is 0.95 (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. If the correlation is 0, the equities are not correlated; they are entirely random.

Global X Correlation With Market

Very weak diversification

The correlation between Global X NASDAQ and DJI is 0.46 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Global X NASDAQ 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 NASDAQ. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in estimate.

Moving together with Global Etf

0.93	ACIO	Aptus Collared Income	Pair Corr
0.95	ADME	Aptus Drawdown Managed	Pair Corr
0.66	SWAN	Amplify BlackSwan Growth Potential Growth	Pair Corr
0.85	PHDG	Invesco SP 500	Pair Corr
0.93	MSTB	ETF Series Solutions	Pair Corr
0.82	HEGD	Swan Hedged Equity	Pair Corr
0.67	VAMO	Cambria Value	Pair Corr
0.89	HEQT	Simplify Exchange Traded	Pair Corr
0.74	GTR	WisdomTree Target Range	Pair Corr
0.76	MSTY	YieldMax MSTR Option	Pair Corr
0.7	MSFT	Microsoft	Pair Corr
0.74	BAC	Bank of America	Pair Corr
0.77	HPQ	HP Inc	Pair Corr
0.65	DIS	Walt Disney	Pair Corr
0.61	BA	Boeing	Pair Corr
0.67	HD	Home Depot	Pair Corr

Moving against Global Etf

0.72	CCOR	Core Alternative ETF	Pair Corr
0.55	JNJ	Johnson Johnson	Pair Corr
0.51	IDOG	ALPS International Sector	Pair Corr
0.46	BABX	GraniteShares 175x Long	Pair Corr
0.42	XPP	ProShares Ultra FTSE	Pair Corr
0.49	VZ	Verizon Communications	Pair Corr
0.45	KO	Coca Cola	Pair Corr
0.35	PFE	Pfizer Inc	Pair Corr

Related Correlations Analysis

	QCLR	QRMI	XTR	XCLR	XRMI
QCLR		0.51	0.93	0.92	0.48	QCLR
QRMI	0.51		0.36	0.32	0.98	QRMI
XTR	0.93	0.36		1.0	0.39	XTR
XCLR	0.92	0.32	1.0		0.35	XCLR
XRMI	0.48	0.98	0.39	0.35		XRMI
	QCLR	QRMI	XTR	XCLR	XRMI

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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
QCLR	0.67	(0.04)	0.00	(0.21)	0.00	0.00	1.12	(1.61)	3.55
QRMI	0.38	0.05	0.19	0.01	0.57	(0.39)	0.59	(0.93)	4.52
XTR	0.68	(0.05)	0.00	(0.20)	0.00	0.00	1.03	(1.62)	4.04
XCLR	0.60	(0.05)	0.00	(0.21)	0.00	0.00	0.94	(1.44)	3.48
XRMI	0.34	0.04	0.22	(0.02)	0.48	(0.34)	0.69	(0.79)	2.84

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