Global X Correlations

RBOT Etf

CAD 31.79 0.10 0.31%

The current 90-days correlation between Global X Robotics and iShares Canadian HYBrid is -0.17 (i.e., Good diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Global X moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Global X Robotics moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Global X Correlation With Market

Modest diversification

The correlation between Global X Robotics and DJI is 0.22 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Global X Robotics and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Global X could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Global X when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Global X - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Global X Robotics to buy it.

Moving together with Global Etf

0.8	XIT	iShares SPTSX Capped	Pair Corr
0.86	TXF	First Asset Tech	Pair Corr
0.88	TEC	TD Global Technology	Pair Corr
0.74	CWW	iShares Global Water	Pair Corr
0.81	CBCX	CI Galaxy Blockchain	Pair Corr
0.76	FBTC	Fidelity Advantage	Pair Corr
0.76	EBIT	Bitcoin ETF CAD	Pair Corr
0.76	BTCQ	3iQ Bitcoin ETF	Pair Corr
0.76	BTCC	Purpose Bitcoin CAD	Pair Corr
0.76	ETC	Evolve Cryptocurrencies	Pair Corr
0.78	BTCY	Purpose Bitcoin Yield	Pair Corr
0.76	BITC	Ninepoint Bitcoin ETF	Pair Corr
0.82	HFU	BetaPro SPTSX Capped	Pair Corr
0.75	ETHQ	3iQ CoinShares Ether	Pair Corr

Moving against Global Etf

0.72	XHC	iShares Global Healthcare	Pair Corr
0.71	HHL	Harvest Healthcare	Pair Corr
0.58	ZUH	BMO Equal Weight	Pair Corr

Related Correlations Analysis

	XHB	EDGF	SOLR	0P0000OXA6	HFP	ALA-PA	ECO	FTN-PA	ROMJ	VO
XHB		0.28	-0.51	0.69	-0.07	-0.12	-0.08	0.64	-0.59	0.33	XHB
EDGF	0.28		0.06	0.3	0.29	-0.3	0.29	0.02	-0.17	0.43	EDGF
SOLR	-0.51	0.06		-0.65	0.07	-0.12	0.18	-0.72	0.64	-0.17	SOLR
0P0000OXA6	0.69	0.3	-0.65		0.03	-0.18	-0.21	0.88	-0.88	0.64	0P0000OXA6
HFP	-0.07	0.29	0.07	0.03		0.18	0.35	-0.15	-0.06	0.31	HFP
ALA-PA	-0.12	-0.3	-0.12	-0.18	0.18		-0.25	-0.04	0.08	-0.49	ALA-PA
ECO	-0.08	0.29	0.18	-0.21	0.35	-0.25		-0.36	0.12	0.09	ECO
FTN-PA	0.64	0.02	-0.72	0.88	-0.15	-0.04	-0.36		-0.8	0.38	FTN-PA
ROMJ	-0.59	-0.17	0.64	-0.88	-0.06	0.08	0.12	-0.8		-0.56	ROMJ
VO	0.33	0.43	-0.17	0.64	0.31	-0.49	0.09	0.38	-0.56		VO
	XHB	EDGF	SOLR	0P0000OXA6	HFP	ALA-PA	ECO	FTN-PA	ROMJ	VO

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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

FTN-PA	+ 0.88	0P0000OXA6
0P0000OXA6	+ 0.69	XHB
FTN-PA	+ 0.64	XHB
ROMJ	+ 0.64	SOLR
VO	+ 0.64	0P0000OXA6
VO	+ 0.43	EDGF

High negative correlations

ROMJ	- 0.88	0P0000OXA6
ROMJ	- 0.8	FTN-PA
FTN-PA	- 0.72	SOLR
0P0000OXA6	- 0.65	SOLR
ROMJ	- 0.59	XHB
VO	- 0.56	ROMJ

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
XHB	0.21	0.03	(0.38)	0.34	0.00	(0.29)	0.52	(0.31)	1.07
EDGF	0.83	0.01	(0.07)	0.27	1.12	(1.22)	2.26	(1.87)	6.36
SOLR	6.76	0.09	0.00	0.21	8.90	(25.00)	25.00	(20.00)	58.33
0P0000OXA6	0.51	0.08	0.01	0.31	0.46	(0.56)	1.15	(1.18)	4.34
HFP	0.31	0.02	(0.18)	6.00	0.33	(0.57)	1.09	(0.97)	2.38
ALA-PA	0.53	0.02	(0.13)	0.30	0.64	(0.62)	1.15	(1.45)	3.73
ECO	1.52	0.06	(0.06)	0.01	1.91	(1.74)	3.84	(3.00)	11.63
FTN-PA	0.18	0.08	(0.36)	(1.33)	0.00	(0.27)	0.48	(0.20)	1.71
ROMJ	2.97	(0.38)	0.00	(0.53)	0.00	0.00	7.50	(6.52)	27.78
VO	7.34	0.54	0.07	0.28	6.82	(18.30)	20.00	(16.67)	56.67

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Our tools can tell you how much better you can do entering a position in Global X without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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