Global X Correlations

XTR Etf

USD 26.36 0.29 1.11%

The current 90-days correlation between Global X SP and FT Vest Equity is 0.84 (i.e., Very 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

Poor diversification

The correlation between Global X SP and DJI is 0.79 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Global X SP 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 Global X SP. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in estimate.

Moving together with Global Etf

1.0	ACIO	Aptus Collared Income	Pair Corr
1.0	ADME	Aptus Drawdown Managed	Pair Corr
0.95	PHDG	Invesco SP 500	Pair Corr
0.92	MSTB	ETF Series Solutions	Pair Corr
0.99	HEGD	Swan Hedged Equity	Pair Corr
0.64	VAMO	Cambria Value	Pair Corr
0.98	HEQT	Simplify Exchange Traded	Pair Corr
0.92	GTR	WisdomTree Target Range	Pair Corr
0.96	SIXD	AIM ETF Products	Pair Corr
0.79	CEFD	ETRACS Monthly Pay	Pair Corr

Moving against Global Etf

0.67	ULE	ProShares Ultra Euro	Pair Corr
0.62	CCOR	Core Alternative ETF	Pair Corr
0.5	YCL	ProShares Ultra Yen	Pair Corr
0.41	PMBS	PIMCO Mortgage Backed	Pair Corr
0.39	FXY	Invesco CurrencyShares	Pair Corr
0.72	DWSH	AdvisorShares Dorsey	Pair Corr
0.47	APCB	Trust For Professional	Pair Corr
0.42	YINN	Direxion Daily FTSE	Pair Corr
0.37	FIVA	Fidelity International	Pair Corr
0.36	UBND	Victory Portfolios	Pair Corr
0.5	AIVI	WisdomTree International	Pair Corr
0.46	MNA	IQ Merger Arbitrage	Pair Corr
0.38	GHTA	Collaborative Investment	Pair Corr
0.37	HCRB	Hartford Core Bond	Pair Corr
0.36	JCPB	JPMorgan Core Plus	Pair Corr
0.32	CAAA	First Trust Exchange	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		-0.14	0.66	-0.48	0.43	0.36	0.16	0.89	-0.77	0.14	META
MSFT	-0.14		-0.64	0.31	-0.77	0.65	0.89	0.0	0.49	-0.33	MSFT
UBER	0.66	-0.64		-0.48	0.8	-0.23	-0.55	0.58	-0.86	0.46	UBER
F	-0.48	0.31	-0.48		-0.2	0.12	0.15	-0.38	0.62	0.23	F
T	0.43	-0.77	0.8	-0.2		-0.54	-0.68	0.25	-0.68	0.48	T
A	0.36	0.65	-0.23	0.12	-0.54		0.75	0.58	0.12	-0.11	A
CRM	0.16	0.89	-0.55	0.15	-0.68	0.75		0.24	0.3	-0.38	CRM
JPM	0.89	0.0	0.58	-0.38	0.25	0.58	0.24		-0.65	0.16	JPM
MRK	-0.77	0.49	-0.86	0.62	-0.68	0.12	0.3	-0.65		-0.31	MRK
XOM	0.14	-0.33	0.46	0.23	0.48	-0.11	-0.38	0.16	-0.31		XOM
	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM

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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

JPM	+ 0.89	META
CRM	+ 0.89	MSFT
T	+ 0.8	UBER
CRM	+ 0.75	A
UBER	+ 0.66	META
A	+ 0.65	MSFT

High negative correlations

MRK	- 0.86	UBER
T	- 0.77	MSFT
MRK	- 0.77	META
MRK	- 0.68	T
CRM	- 0.68	T
MRK	- 0.65	JPM

Global X Competition 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
META	1.61	0.01	0.00	(0.08)	0.00	0.00	2.57	(3.73)	8.90
MSFT	1.11	(0.15)	0.00	(0.32)	0.00	0.00	2.58	(2.14)	10.31
UBER	1.94	0.22	0.10	0.31	2.41	(2.00)	4.72	(3.30)	12.75
F	1.44	0.07	0.00	(0.03)	0.00	0.00	2.71	(2.89)	10.14
T	1.05	0.26	0.17	0.38	1.59	(1.13)	1.90	(1.75)	11.66
A	1.13	(0.12)	0.00	(0.22)	0.00	0.00	2.92	(2.59)	9.03
CRM	1.42	(0.23)	0.00	(0.30)	0.00	0.00	2.72	(3.81)	8.88
JPM	1.09	0.06	0.00	(0.04)	0.00	0.00	1.99	(3.35)	6.85
MRK	1.17	(0.07)	0.00	1.31	0.00	0.00	2.07	(1.80)	11.58
XOM	1.05	0.07	0.09	0.06	1.38	(1.09)	2.55	(2.36)	5.89

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