Global X Correlations

URA Etf

USD 30.85 0.49 1.61%

The current 90-days correlation between Global X Uranium and Invesco SP 500 is 0.09 (i.e., Significant 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

Modest diversification

The correlation between Global X Uranium and DJI is 0.25 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Global X Uranium 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 Uranium. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in metropolitan statistical area.

Moving together with Global Etf

0.7	VAW	Vanguard Materials Index	Pair Corr
0.9	XME	SPDR SP Metals	Pair Corr
0.61	PHO	Invesco Water Resources	Pair Corr
0.93	URNM	Sprott Uranium Miners	Pair Corr
0.75	JAVA	JPMorgan Active Value	Pair Corr
0.75	KONG	Formidable Fortress ETF	Pair Corr
0.66	VR	VR	Pair Corr
0.7	AXP	American Express Fiscal Year End 24th of January 2025	Pair Corr
0.78	HPQ	HP Inc	Pair Corr
0.68	TRV	The Travelers Companies Fiscal Year End 17th of January 2025	Pair Corr
0.88	AA	Alcoa Corp Fiscal Year End 15th of January 2025	Pair Corr
0.67	BAC	Bank of America Fiscal Year End 10th of January 2025	Pair Corr
0.68	JPM	JPMorgan Chase Fiscal Year End 10th of January 2025	Pair Corr

Moving against Global Etf

0.72	MKC	McCormick Company Fiscal Year End 23rd of January 2025	Pair Corr
0.59	HUM	Humana Inc Fiscal Year End 23rd of January 2025	Pair Corr
0.73	MRK	Merck Company Fiscal Year End 6th of February 2025	Pair Corr
0.6	KO	Coca Cola Fiscal Year End 11th of February 2025	Pair Corr
0.55	JNJ	Johnson Johnson Fiscal Year End 28th of January 2025	Pair Corr
0.33	BA	Boeing Fiscal Year End 29th of January 2025	Pair Corr

Related Correlations Analysis

	RGI	RCD	RHS	AQUI	MSTSX	LBHIX	ABHYX	SCAXF	VIASP	RRTLX
RGI		0.95	-0.58	0.0	0.61	0.72	0.07	-0.65	0.68	0.68	RGI
RCD	0.95		-0.41	0.0	0.71	0.79	0.27	-0.7	0.64	0.81	RCD
RHS	-0.58	-0.41		0.0	-0.07	-0.19	0.44	0.36	-0.54	0.05	RHS
AQUI	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	AQUI
MSTSX	0.61	0.71	-0.07	0.0		0.67	0.34	-0.22	0.08	0.78	MSTSX
LBHIX	0.72	0.79	-0.19	0.0	0.67		0.59	-0.54	0.48	0.83	LBHIX
ABHYX	0.07	0.27	0.44	0.0	0.34	0.59		-0.35	0.11	0.54	ABHYX
SCAXF	-0.65	-0.7	0.36	0.0	-0.22	-0.54	-0.35		-0.87	-0.44	SCAXF
VIASP	0.68	0.64	-0.54	0.0	0.08	0.48	0.11	-0.87		0.34	VIASP
RRTLX	0.68	0.81	0.05	0.0	0.78	0.83	0.54	-0.44	0.34		RRTLX
	RGI	RCD	RHS	AQUI	MSTSX	LBHIX	ABHYX	SCAXF	VIASP	RRTLX

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

Please upgrade your account to get full access to Macroaxis premium features

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

RCD	+ 0.95	RGI
RRTLX	+ 0.83	LBHIX
RRTLX	+ 0.81	RCD
LBHIX	+ 0.79	RCD
RRTLX	+ 0.78	MSTSX
LBHIX	+ 0.72	RGI

High negative correlations

VIASP	- 0.87	SCAXF
SCAXF	- 0.7	RCD
SCAXF	- 0.65	RGI
RHS	- 0.58	RGI
SCAXF	- 0.54	LBHIX
VIASP	- 0.54	RHS

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
RGI	0.66	0.16	0.12	0.77	0.31	(0.82)	1.57	(0.85)	5.20
RCD	0.69	0.22	0.16	2.87	0.40	(0.82)	1.52	(1.02)	3.36
RHS	0.49	(0.05)	0.00	(0.27)	0.00	0.00	0.85	(1.06)	2.47
AQUI	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
MSTSX	0.45	(0.01)	(0.11)	0.10	0.39	(0.59)	1.21	(0.84)	2.80
LBHIX	0.10	0.01	(0.41)	0.24	0.00	(0.25)	0.24	(0.24)	0.71
ABHYX	0.17	0.00	(0.23)	0.11	0.26	(0.23)	0.34	(0.33)	1.91
SCAXF	0.70	(0.43)	0.00	(0.64)	0.00	0.00	0.00	0.00	23.47
VIASP	0.75	0.10	(0.02)	(1.58)	1.11	(0.81)	2.28	(1.20)	7.18
RRTLX	0.22	0.03	(0.25)	0.71	0.12	(0.26)	0.48	(0.47)	1.36

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC