Global X Correlations

Etfs . USA . 
Etf . Global X Funds
SHLD Etf  USD 46.62  0.63  1.33%   
The current 90-days correlation between Global X Funds and FT Vest Equity is 0.13 (i.e., Average 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

Good diversification

The correlation between Global X Funds and DJI is -0.03 (i.e., Good 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

  0.63IBM International BusinessPairCorr
  0.63GE GE AerospacePairCorr
  0.84T ATT Inc Earnings Call This WeekPairCorr
  0.64CVX Chevron Corp Sell-off TrendPairCorr
  0.84TRV The Travelers CompaniesPairCorr

Moving against Global Etf

  0.8VGT Vanguard InformationPairCorr
  0.8FTEC Fidelity MSCI InformationPairCorr
  0.77IYW iShares Technology ETFPairCorr
  0.75FNGU MicroSectors FANG Index Symbol ChangePairCorr
  0.73GBTC Grayscale Bitcoin TrustPairCorr
  0.7NAIL Direxion Daily Homeb Downward RallyPairCorr
  0.67SMH VanEck Semiconductor ETFPairCorr
  0.67SOXX iShares Semiconductor ETFPairCorr
  0.67IGV iShares Expanded Tech Low VolatilityPairCorr
  0.59USD ProShares Ultra SemiPairCorr
  0.53XLK Technology Select SectorPairCorr
  0.53FNGO MicroSectors FANG IndexPairCorr
  0.52GUSH Direxion Daily SPPairCorr
  0.51IGM iShares Expanded TechPairCorr
  0.48FCG First Trust NaturalPairCorr
  0.41FDN First Trust DowPairCorr
  0.79MSFT MicrosoftPairCorr
  0.75HPQ HP IncPairCorr
  0.75DIS Walt DisneyPairCorr
  0.69AXP American Express Sell-off TrendPairCorr
  0.69AA Alcoa CorpPairCorr
  0.65HD Home DepotPairCorr
  0.64BAC Bank of America Sell-off TrendPairCorr
  0.49BA BoeingPairCorr

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   
MBCC
+ 0.94
DHDG
Z
+ 0.84
DHDG
MBCC
+ 0.83
Z
MBOX
+ 0.81
MBCC
MBBB
+ 0.78
SHLD
MBOX
+ 0.74
DHDG
  
High negative correlations   
DHDG
- 0.39
SHLD
Z
- 0.34
SHLD
MBCC
- 0.24
SHLD
DHSB
- 0.15
MBCC
DHSB
- 0.14
DHDG
MBOX
- 0.06
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.

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