Global X Correlations

SHLD Etf

USD 42.04 0.66 1.59%

The current 90-days correlation between Global X Funds and FT Vest Equity is 0.45 (i.e., Very weak 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

Very weak diversification

The correlation between Global X Funds and DJI is 0.47 (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 Funds 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 Funds. 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

0.83	CIBR	First Trust NASDAQ	Pair Corr
0.63	FDN	First Trust Dow	Pair Corr
0.61	EWC	iShares MSCI Canada Sell-off Trend	Pair Corr
0.8	BST	BlackRock Science Tech	Pair Corr
0.7	GE	GE Aerospace	Pair Corr
0.75	INTC	Intel Downward Rally	Pair Corr
0.62	JPM	JPMorgan Chase	Pair Corr
0.8	JNJ	Johnson Johnson	Pair Corr
0.61	T	ATT Inc Aggressive Push	Pair Corr

Moving against Global Etf

0.55

MSFT

Microsoft

Pair Corr

Related Correlations Analysis

	SHLD	DHDG	Z	MBCC	MBBB	BZDYF	DHSB	MBOX	MBNE
SHLD		0.43	0.38	0.45	0.35	0.0	-0.14	0.6	0.34	SHLD
DHDG	0.43		0.66	0.81	0.64	0.0	-0.16	0.65	0.42	DHDG
Z	0.38	0.66		0.69	0.64	0.0	0.02	0.73	0.59	Z
MBCC	0.45	0.81	0.69		0.82	0.0	-0.12	0.82	0.74	MBCC
MBBB	0.35	0.64	0.64	0.82		0.0	-0.05	0.77	0.87	MBBB
BZDYF	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	BZDYF
DHSB	-0.14	-0.16	0.02	-0.12	-0.05	0.0		-0.03	-0.01	DHSB
MBOX	0.6	0.65	0.73	0.82	0.77	0.0	-0.03		0.76	MBOX
MBNE	0.34	0.42	0.59	0.74	0.87	0.0	-0.01	0.76		MBNE
	SHLD	DHDG	Z	MBCC	MBBB	BZDYF	DHSB	MBOX	MBNE

Click cells to compare fundamentals

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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

MBNE	+ 0.87	MBBB
MBBB	+ 0.82	MBCC
MBOX	+ 0.82	MBCC
MBCC	+ 0.81	DHDG
MBOX	+ 0.77	MBBB
MBNE	+ 0.76	MBOX

High negative correlations

DHSB	- 0.16	DHDG
DHSB	- 0.14	SHLD
DHSB	- 0.12	MBCC
DHSB	- 0.05	MBBB
MBOX	- 0.03	DHSB
MBNE	- 0.01	DHSB

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
SHLD	0.87	0.12	0.12	0.15	0.88	(0.98)	3.01	(1.54)	6.14
DHDG	0.35	0.01	0.02	0.04	0.51	(0.37)	0.68	(0.80)	2.55
Z	1.65	0.09	0.03	0.07	2.64	(1.58)	3.50	(3.63)	14.88
MBCC	0.57	0.03	0.03	(1.50)	0.79	(0.56)	1.12	(1.16)	3.80
MBBB	0.26	0.02	0.05	0.20	0.24	(0.28)	0.56	(0.47)	1.74
BZDYF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
DHSB	0.27	(0.10)	0.00	(1.96)	0.00	0.00	0.32	(0.64)	0.96
MBOX	0.59	0.01	0.01	0.26	0.83	(0.60)	1.06	(1.06)	4.74
MBNE	0.14	(0.01)	(0.06)	(0.60)	0.23	(0.13)	0.24	(0.34)	0.82

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