Global X Correlations

YLCO Etf

USD 8.67 0.01 0.12%

The current 90-days correlation between Global X YieldCo and Invesco Taxable Municipal is 0.15 (i.e., Average 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

Modest diversification

The correlation between Global X YieldCo and DJI is 0.29 (i.e., Modest 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.

Check out Your Current Watchlist to better understand how to build diversified portfolios, which includes a position in Global X YieldCo. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in main economic indicators.

Moving together with Global Etf

1.0

RNRG

Global X Renewable

Pair Corr

Moving against Global Etf

0.66	EVUS	iShares ESG Aware	Pair Corr
0.61	MAPP	Harbor ETF Trust	Pair Corr
0.51	HART	IQ Healthy Hearts	Pair Corr
0.42	FUTY	Fidelity MSCI Utilities	Pair Corr
0.42	BKCI	BNY Mellon ETF	Pair Corr
0.35	IDU	iShares Utilities ETF	Pair Corr
0.32	AGQI	First Trust Exchange	Pair Corr
0.31	XLU	Utilities Select Sector	Pair Corr
0.71	JPM	JPMorgan Chase	Pair Corr
0.65	WMT	Walmart Aggressive Push	Pair Corr
0.48	CSCO	Cisco Systems	Pair Corr
0.41	BAC	Bank of America Sell-off Trend	Pair Corr
0.38	AXP	American Express Sell-off Trend	Pair Corr

Related Correlations Analysis

	BAB	GRN	PBW	PUW	TAN	YLCO	BABS	DHDG	Z
BAB		-0.35	-0.84	0.0	-0.51	-0.16	0.0	-0.15	-0.09	BAB
GRN	-0.35		0.4	0.0	0.24	-0.59	0.0	0.59	0.68	GRN
PBW	-0.84	0.4		0.0	0.79	0.26	0.0	0.41	0.21	PBW
PUW	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	PUW
TAN	-0.51	0.24	0.79	0.0		0.3	0.0	0.41	0.16	TAN
YLCO	-0.16	-0.59	0.26	0.0	0.3		0.0	-0.41	-0.55	YLCO
BABS	0.0	0.0	0.0	0.0	0.0	0.0		0.0	0.0	BABS
DHDG	-0.15	0.59	0.41	0.0	0.41	-0.41	0.0		0.72	DHDG
Z	-0.09	0.68	0.21	0.0	0.16	-0.55	0.0	0.72		Z
	BAB	GRN	PBW	PUW	TAN	YLCO	BABS	DHDG	Z

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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

TAN	+ 0.79	PBW
Z	+ 0.72	DHDG
Z	+ 0.68	GRN
DHDG	+ 0.59	GRN
DHDG	+ 0.41	PBW
DHDG	+ 0.41	TAN

High negative correlations

PBW	- 0.84	BAB
YLCO	- 0.59	GRN
Z	- 0.55	YLCO
TAN	- 0.51	BAB
DHDG	- 0.41	YLCO
GRN	- 0.35	BAB

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	0.33	0.05	0.26	0.38	0.29	(0.36)	0.66	(0.62)	1.62
GRN	1.64	0.05	0.05	(0.79)	2.31	(1.51)	2.82	(3.64)	8.43
PBW	2.04	(0.19)	0.00	(0.28)	0.00	0.00	3.19	(4.02)	11.53
PUW	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
TAN	1.62	(0.06)	0.00	(0.25)	0.00	0.00	2.95	(3.29)	8.81
YLCO	0.75	0.01	0.00	(0.04)	0.00	0.00	1.31	(2.18)	4.26
BABS	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
DHDG	0.42	(0.02)	0.00	(0.11)	0.00	0.00	0.87	(0.90)	2.86
Z	1.90	(0.05)	0.00	(0.10)	0.00	0.00	3.23	(4.38)	14.24

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