Global X Correlations

RYLD Etf

USD 15.40 0.08 0.52%

The current 90-days correlation between Global X Russell and Global X SP is 0.84 (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.

Global X Correlation With Market

Poor diversification

The correlation between Global X Russell and DJI is 0.68 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Global X Russell 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 Russell. 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

0.64	JEPI	JPMorgan Equity Premium	Pair Corr
0.87	XYLD	Global X SP	Pair Corr
0.71	DIVO	Amplify CWP Enhanced	Pair Corr
0.86	JEPQ	JPMorgan Nasdaq Equity	Pair Corr
0.78	BUYW	Main Buywrite ETF	Pair Corr
0.88	UPRO	ProShares UltraPro SP500	Pair Corr
0.96	QTJA	Innovator ETFs Trust	Pair Corr
0.96	QTOC	Innovator ETFs Trust	Pair Corr
0.96	XTOC	Innovator ETFs Trust	Pair Corr
0.79	QTAP	Innovator Growth 100 Low Volatility	Pair Corr
0.95	XTJA	Innovator ETFs Trust	Pair Corr
0.94	BAC	Bank of America Sell-off Trend	Pair Corr
0.79	BA	Boeing	Pair Corr
0.88	HD	Home Depot	Pair Corr
0.63	CAT	Caterpillar	Pair Corr
0.78	JPM	JPMorgan Chase	Pair Corr
0.76	WMT	Walmart Aggressive Push	Pair Corr
0.74	DIS	Walt Disney	Pair Corr
0.61	AA	Alcoa Corp	Pair Corr

Moving against Global Etf

0.6	NUSI	NEOS ETF Trust Symbol Change	Pair Corr
0.38	T	ATT Inc Earnings Call This Week	Pair Corr
0.64	TRV	The Travelers Companies	Pair Corr
0.4	MCD	McDonalds	Pair Corr
0.36	PG	Procter Gamble	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		-0.04	0.59	-0.54	0.32	0.42	0.26	0.9	-0.75	-0.01	META
MSFT	-0.04		-0.62	0.09	-0.79	0.69	0.89	0.1	0.44	-0.52	MSFT
UBER	0.59	-0.62		-0.35	0.8	-0.25	-0.53	0.53	-0.85	0.54	UBER
F	-0.54	0.09	-0.35		-0.05	-0.04	-0.08	-0.39	0.56	0.31	F
T	0.32	-0.79	0.8	-0.05		-0.57	-0.71	0.17	-0.65	0.58	T
A	0.42	0.69	-0.25	-0.04	-0.57		0.79	0.62	0.1	-0.3	A
CRM	0.26	0.89	-0.53	-0.08	-0.71	0.79		0.33	0.24	-0.58	CRM
JPM	0.9	0.1	0.53	-0.39	0.17	0.62	0.33		-0.63	0.07	JPM
MRK	-0.75	0.44	-0.85	0.56	-0.65	0.1	0.24	-0.63		-0.31	MRK
XOM	-0.01	-0.52	0.54	0.31	0.58	-0.3	-0.58	0.07	-0.31		XOM
	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM

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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

JPM	+ 0.9	META
CRM	+ 0.89	MSFT
T	+ 0.8	UBER
CRM	+ 0.79	A
A	+ 0.69	MSFT
JPM	+ 0.62	A

High negative correlations

MRK	- 0.85	UBER
T	- 0.79	MSFT
MRK	- 0.75	META
CRM	- 0.71	T
MRK	- 0.65	T
MRK	- 0.63	JPM

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
META	1.59	0.02	0.00	(0.05)	0.00	0.00	2.57	(3.73)	8.90
MSFT	1.12	(0.15)	0.00	(0.28)	0.00	0.00	2.58	(2.14)	10.31
UBER	1.88	0.41	0.19	0.74	2.06	(2.04)	4.72	(3.13)	12.75
F	1.47	0.07	0.03	0.00	2.22	(1.39)	2.71	(2.89)	10.14
T	1.04	0.26	0.16	0.40	1.61	(1.11)	1.90	(1.75)	11.66
A	1.15	(0.15)	0.00	(0.23)	0.00	0.00	2.92	(2.59)	9.03
CRM	1.38	(0.27)	0.00	(0.31)	0.00	0.00	2.72	(3.81)	8.88
JPM	1.10	0.09	0.05	0.02	1.74	(1.04)	1.99	(3.35)	6.85
MRK	1.17	(0.11)	0.00	1.52	0.00	0.00	2.07	(1.80)	11.58
XOM	1.06	0.11	0.10	0.17	1.39	(1.08)	2.55	(2.36)	5.89

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