Global X Correlations
| YLCO Etf | USD 8.56 0.04 0.47% |
The current 90-days correlation between Global X YieldCo and Invesco Taxable Municipal is 0.38 (i.e., Weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Global X moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Global X YieldCo moves in either direction, the perfectly negatively correlated security will move in the opposite direction.
Global X Correlation With Market
Average diversification
The correlation between Global X YieldCo and DJI is 0.18 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Global X YieldCo and DJI in the same portfolio, assuming nothing else is changed.
Global |
Moving together with Global Etf
Moving against Global Etf
| 0.53 | HEDJ | WisdomTree Europe Hedged | PairCorr |
| 0.52 | KSA | iShares MSCI Saudi | PairCorr |
| 0.48 | MLPR | ETRACS Quarterly Pay | PairCorr |
| 0.48 | DBEF | Xtrackers MSCI EAFE | PairCorr |
| 0.46 | ATMP | Barclays ETN Select | PairCorr |
| 0.43 | LUX | Tema ETF Trust | PairCorr |
| 0.36 | YCS | ProShares UltraShort Yen | PairCorr |
| 0.65 | KLXY | KraneShares Trust | PairCorr |
| 0.63 | MMM | 3M Company | PairCorr |
| 0.63 | JPM | JPMorgan Chase | PairCorr |
| 0.52 | DDEC | First Trust Exchange | PairCorr |
| 0.45 | CSCO | Cisco Systems | PairCorr |
| 0.41 | BA | Boeing | PairCorr |
| 0.37 | AXP | American Express | PairCorr |
| 0.36 | IBM | International Business | PairCorr |
| 0.35 | T | ATT Inc Aggressive Push | 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| BAB | 0.31 | (0.01) | (0.03) | (0.07) | 0.43 | 0.65 | 1.73 | |||
| PUW | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| YLCO | 0.74 | (0.14) | 0.00 | (0.59) | 0.00 | 1.31 | 4.93 | |||
| BABS | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| DHDG | 0.35 | 0.01 | 0.02 | 0.04 | 0.51 | 0.68 | 2.55 | |||
| Z | 1.65 | 0.09 | 0.03 | 0.07 | 2.64 | 3.50 | 14.88 | |||
| MBCC | 0.57 | 0.03 | 0.03 | (1.50) | 0.79 | 1.12 | 3.80 | |||
| MBBB | 0.26 | 0.02 | 0.05 | 0.20 | 0.24 | 0.56 | 1.74 | |||
| BZDYF | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |