Global X Correlations
| SPFF Etf | USD 9.19 0.06 0.66% |
The current 90-days correlation between Global X SuperIncome and Strategy Shares is 0.24 (i.e., Modest 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 SuperIncome and DJI is 0.44 (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 SuperIncome and DJI in the same portfolio, assuming nothing else is changed.
Global |
Moving together with Global Etf
| 0.88 | PFF | iShares Preferred Sell-off Trend | PairCorr |
| 0.61 | PGX | Invesco Preferred ETF Sell-off Trend | PairCorr |
| 0.82 | PFFD | Global X Preferred | PairCorr |
| 0.7 | PSK | SPDR ICE Preferred | PairCorr |
| 0.93 | PFXF | VanEck Preferred Sec | PairCorr |
| 0.63 | PFFA | Virtus InfraCap Preferred | PairCorr |
| 0.68 | SWP | SWP Growth Income | PairCorr |
| 0.67 | DUKH | Ocean Park High | PairCorr |
| 0.7 | WINN | Harbor Long Term | PairCorr |
| 0.63 | HPQ | HP Inc | PairCorr |
| 0.74 | AXP | American Express Sell-off Trend | PairCorr |
| 0.7 | BAC | Bank of America Sell-off Trend | PairCorr |
| 0.7 | HD | Home Depot | PairCorr |
| 0.62 | CAT | Caterpillar | PairCorr |
Moving against Global Etf
| 0.72 | FNGD | MicroSectors FANG Index | PairCorr |
| 0.46 | SHLD | Global X Funds | PairCorr |
| 0.39 | KO | Coca Cola | PairCorr |
| 0.38 | JNJ | Johnson Johnson | PairCorr |
| 0.33 | MCD | McDonalds | PairCorr |
Related Correlations Analysis
| Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
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
| High negative correlations
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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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| DHSB | 0.37 | (0.08) | 0.00 | (0.48) | 0.00 | 0.82 | 1.68 | |||
| MBOX | 0.69 | 0.00 | 0.00 | (0.07) | 0.00 | 1.08 | 3.06 | |||
| DIEM | 0.69 | 0.05 | 0.09 | 0.04 | 0.86 | 1.43 | 4.39 | |||
| MCHI | 1.38 | 0.27 | 0.20 | 0.70 | 1.42 | 2.63 | 7.91 | |||
| DIPS | 2.24 | 0.08 | 0.08 | (0.14) | 2.73 | 5.35 | 23.78 | |||
| DISO | 0.91 | (0.11) | 0.00 | (0.23) | 0.00 | 1.47 | 6.61 | |||
| DIVB | 0.65 | 0.03 | 0.00 | (0.03) | 0.00 | 1.15 | 3.13 | |||
| DIVD | 0.60 | 0.14 | 0.23 | 0.21 | 0.65 | 1.39 | 3.39 | |||
| DIVG | 0.60 | 0.03 | 0.08 | (0.02) | 0.76 | 1.23 | 3.05 |