Clough Global Correlations

XGLOX Etf  USD 5.73  0.02  0.35%   
The current 90-days correlation between Clough Global Opport and RiverNorthDoubleLine Strategic Opportunity is -0.01 (i.e., Good diversification). The correlation of Clough Global 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.

Clough Global Correlation With Market

Good diversification

The correlation between Clough Global Opportunities and DJI is -0.13 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Clough Global Opportunities and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Your Current Watchlist to better understand how to build diversified portfolios, which includes a position in Clough Global Opportunities. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in persons.

Moving together with Clough Etf

  0.89VTI Vanguard Total StockPairCorr
  0.88SPY SPDR SP 500PairCorr
  0.9IVV iShares Core SPPairCorr
  0.93VUG Vanguard Growth IndexPairCorr
  0.79VO Vanguard Mid CapPairCorr
  0.94VB Vanguard Small CapPairCorr
  0.69SWP SWP Growth IncomePairCorr
  0.92WINN Harbor Long TermPairCorr

Moving against Clough Etf

  0.91TAIL Cambria Tail RiskPairCorr
  0.88FNGD MicroSectors FANG Index Buyout TrendPairCorr
  0.82SHLD Global X FundsPairCorr
  0.77BND Vanguard Total Bond Sell-off TrendPairCorr
  0.61VEA Vanguard FTSE DevelopedPairCorr
  0.59SPHD Invesco SP 500PairCorr
  0.92SH ProShares Short SP500PairCorr
  0.89ESGL ESGL Holdings LimitedPairCorr
  0.88VNM VanEck Vietnam ETFPairCorr
  0.73MYCJ SPDR SSGA My2030PairCorr
  0.72SPIB SPDR Barclays Interm Sell-off TrendPairCorr
  0.7GSEU Goldman Sachs ActiveBetaPairCorr
  0.69JMST JPMorgan Ultra ShortPairCorr
  0.69CGRO Tidal Trust IIPairCorr
  0.61ACWV iShares MSCI GlobalPairCorr
  0.6GHMS Goose Hollow MultiPairCorr
  0.59GDXU MicroSectors Gold MinersPairCorr
  0.59VXUS Vanguard Total InterPairCorr
  0.58BKT BlackRock Income ClosedPairCorr
  0.58LIAE Stone Ridge 2050PairCorr
  0.53EEMX SPDR MSCI Emerging Potential GrowthPairCorr
  0.52HSRT Hartford Short DurationPairCorr
  0.52BBEM JP Morgan ExchangePairCorr

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   
JPMMETA
CRMMSFT
CRMA
TUBER
AMSFT
JPMA
  
High negative correlations   
MRKUBER
TMSFT
CRMT
MRKMETA
AT
XOMCRM

Clough Global Competition Risk-Adjusted Indicators

There is a big difference between Clough Etf performing well and Clough Global 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 Clough Global'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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
META  1.61  0.05  0.02  0.04  2.24 
 2.96 
 8.90 
MSFT  1.07 (0.17) 0.00 (0.20) 0.00 
 2.58 
 10.31 
UBER  1.92  0.31  0.14  0.48  2.11 
 4.72 
 12.75 
F  1.44  0.11  0.05 (0.36) 2.16 
 2.71 
 10.14 
T  0.99  0.29  0.17 (24.36) 1.45 
 1.90 
 11.66 
A  1.13 (0.15) 0.00 (0.15) 0.00 
 2.92 
 9.03 
CRM  1.38 (0.27) 0.00 (0.22) 0.00 
 2.72 
 8.88 
JPM  1.09  0.14  0.08  0.11  1.55 
 2.16 
 6.85 
MRK  1.22 (0.15) 0.00  1.32  0.00 
 2.07 
 11.58 
XOM  1.02  0.17  0.12  0.40  1.24 
 2.55 
 5.89