Global X Correlations

SDIV Etf

USD 21.07 0.04 0.19%

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 SuperDividend and DJI is 0.53 (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 SuperDividend and DJI in the same portfolio, assuming nothing else is changed.

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Global X SuperDividend. 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

0.78	INFL	Horizon Kinetics Inf	Pair Corr
0.61	VRAI	Virtus Real Asset	Pair Corr
0.86	SAGP	Advisorsa Inner	Pair Corr
0.88	MLPR	ETRACS Quarterly Pay	Pair Corr
0.82	AMZA	InfraCap MLP ETF	Pair Corr
0.73	ATMP	Barclays ETN Select	Pair Corr
0.9	GDXU	MicroSectors Gold Miners	Pair Corr
0.84	JNJ	Johnson Johnson Sell-off Trend	Pair Corr
0.77	CVX	Chevron Corp	Pair Corr
0.75	CSCO	Cisco Systems	Pair Corr
0.75	VZ	Verizon Communications	Pair Corr
0.86	T	ATT Inc Sell-off Trend	Pair Corr
0.69	INTC	Intel Sell-off Trend	Pair Corr
0.85	MMM	3M Company	Pair Corr
0.79	KO	Coca Cola	Pair Corr
0.85	IBM	International Business	Pair Corr

Moving against Global Etf

0.56	USD	ProShares Ultra Semi	Pair Corr
0.53	CTEC	Global X CleanTech	Pair Corr
0.46	GBTC	Grayscale Bitcoin Trust	Pair Corr
0.43	FNGU	MicroSectors FANG Index Symbol Change	Pair Corr
0.38	FNGO	MicroSectors FANG Index	Pair Corr
0.7	MSFT	Microsoft Aggressive Push	Pair Corr
0.54	AA	Alcoa Corp	Pair Corr
0.46	CAT	Caterpillar	Pair Corr
0.42	DIS	Walt Disney	Pair Corr
0.37	HPQ	HP Inc	Pair Corr

Related Correlations Analysis

	DIV	KBWD	SRET	SPHD	PGX
DIV		0.89	0.88	0.89	0.55	DIV
KBWD	0.89		0.75	0.7	0.56	KBWD
SRET	0.88	0.75		0.89	0.49	SRET
SPHD	0.89	0.7	0.89		0.57	SPHD
PGX	0.55	0.56	0.49	0.57		PGX
	DIV	KBWD	SRET	SPHD	PGX

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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
DIV	0.59	0.03	0.08	(0.31)	0.87	(0.57)	1.28	(1.17)	3.00
KBWD	0.79	0.02	0.03	0.00	1.08	(0.77)	1.56	(1.68)	4.14
SRET	0.73	0.09	0.10	0.14	0.93	(0.79)	1.39	(1.74)	4.02
SPHD	0.63	0.01	0.05	(0.10)	0.92	(0.63)	1.36	(1.74)	3.82
PGX	0.49	(0.01)	0.00	0.96	0.00	0.00	0.87	(0.78)	3.26

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