Global X Correlations

Etfs . USA . 
Etf . Global X NASDAQ
QYLD Etf  USD 16.96  0.01  0.06%   
The current 90-days correlation between Global X NASDAQ and Global X Russell is -0.14 (i.e., Good 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 NASDAQ and DJI is 0.65 (i.e., Poor 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 bureau of economic analysis.

Moving together with Global Etf

  0.9XYLD Global X SPPairCorr
  0.61DIVO Amplify CWP EnhancedPairCorr
  0.91RYLD Global X RussellPairCorr
  0.89JEPQ JPMorgan Nasdaq EquityPairCorr
  0.72BUYW Main Buywrite ETFPairCorr
  0.91UPRO ProShares UltraPro SP500PairCorr
  0.99QTJA Innovator ETFs TrustPairCorr
  0.96QTOC Innovator ETFs TrustPairCorr
  0.96XTOC Innovator ETFs TrustPairCorr
  0.83QTAP Innovator Growth 100 Low VolatilityPairCorr
  0.97XTJA Innovator ETFs TrustPairCorr
  0.64XTAP Innovator Equity Acc Low VolatilityPairCorr
  0.87BAC Bank of America Sell-off TrendPairCorr
  0.82BA BoeingPairCorr
  0.81HD Home DepotPairCorr
  0.8JPM JPMorgan ChasePairCorr
  0.77WMT Walmart Aggressive PushPairCorr
  0.74DIS Walt DisneyPairCorr

Moving against Global Etf

  0.52NUSI NEOS ETF Trust Symbol ChangePairCorr
  0.31T ATT Inc Earnings Call This WeekPairCorr
  0.66TRV The Travelers CompaniesPairCorr
  0.34MCD McDonaldsPairCorr
  0.33PG Procter GamblePairCorr
  0.31MRK Merck CompanyPairCorr

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   
XYLD
+ 0.89
RYLD
SCHD
+ 0.75
JEPI
XYLD
+ 0.68
JEPI
JEPI
+ 0.64
RYLD
SCHD
+ 0.48
NUSI
SCHD
+ 0.2
XYLD
  
High negative correlations   
NUSI
- 0.52
RYLD
NUSI
- 0.31
XYLD

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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