Global X Correlations

Etfs . USA . 
Etf . Global X SuperDividend
SRET Etf  USD 21.30  0.10  0.47%   
The current 90-days correlation between Global X SuperDividend and Global X SuperDividend is 0.75 (i.e., 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. 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 0.46 (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 income.

Moving together with Global Etf

  0.77VNQ Vanguard Real EstatePairCorr
  0.74XLRE Real EstatePairCorr
  0.8IYR iShares Real EstatePairCorr
  0.78ICF iShares Cohen SteersPairCorr
  0.61USRT iShares Core REITPairCorr
  0.94BABX GraniteShares 175x LongPairCorr
  0.85GDXU MicroSectors Gold MinersPairCorr
  0.95XPP ProShares Ultra FTSEPairCorr
  0.84JNUG Direxion Daily JuniorPairCorr
  0.68XOM Exxon Mobil Corp Earnings Call This WeekPairCorr
  0.95JNJ Johnson Johnson Sell-off TrendPairCorr
  0.69INTC Intel Sell-off TrendPairCorr
  0.83TRV The Travelers CompaniesPairCorr
  0.68CVX Chevron CorpPairCorr
  0.77IBM International BusinessPairCorr
  0.72GE GE AerospacePairCorr
  0.82MCD McDonaldsPairCorr
  0.93VZ Verizon CommunicationsPairCorr
  0.92KO Coca ColaPairCorr

Moving against Global Etf

  0.64CAT CaterpillarPairCorr
  0.34WTID UBS ETRACSPairCorr
  0.78MSFT Microsoft Aggressive PushPairCorr
  0.57HPQ HP IncPairCorr
  0.55AXP American ExpressPairCorr
  0.55DIS Walt DisneyPairCorr
  0.51HD Home DepotPairCorr
  0.31BA 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   
ALTY
+ 0.93
KBWD
DIV
+ 0.91
SDIV
ALTY
+ 0.89
SDIV
KBWD
+ 0.89
DIV
ALTY
+ 0.87
DIV
KBWD
+ 0.86
SDIV
  
High negative correlations   
KBWY
- 0.42
SDIV
DIV
- 0.37
KBWY
ALTY
- 0.28
KBWY
KBWD
- 0.14
KBWY

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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