Global X Correlations

AGNG Etf

USD 32.12 0.25 0.77%

The current 90-days correlation between Global X Aging and Global X Clean is 0.73 (i.e., 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.

Global X Correlation With Market

Poor diversification

The correlation between Global X Aging 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 Aging and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Global Etf

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Global X Aging. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in board of governors.

Moving together with Global Etf

0.9	IBB	iShares Biotechnology ETF	Pair Corr
0.93	XBI	SPDR SP Biotech	Pair Corr
0.83	IHI	iShares Medical Devices	Pair Corr
0.82	ARKG	ARK Genomic Revolution	Pair Corr
0.93	NFLX	Netflix Earnings Call This Week	Pair Corr
0.91	VTI	Vanguard Total Stock	Pair Corr
0.8	DUKH	Ocean Park High	Pair Corr
0.65	IGLD	FT Cboe Vest	Pair Corr
0.73	WMT	Walmart	Pair Corr
0.87	JPM	JPMorgan Chase Earnings Call This Week	Pair Corr
0.77	AA	Alcoa Corp Earnings Call This Week	Pair Corr
0.89	PFE	Pfizer Inc Aggressive Push	Pair Corr
0.89	DD	Dupont De Nemours	Pair Corr
0.9	BA	Boeing Aggressive Push	Pair Corr
0.88	GE	GE Aerospace	Pair Corr
0.8	MMM	3M Company Earnings Call This Week	Pair Corr
0.62	INTC	Intel Aggressive Push	Pair Corr
0.88	BAC	Bank of America Earnings Call This Week	Pair Corr
0.62	CVX	Chevron Corp	Pair Corr
0.87	AXP	American Express Earnings Call This Week	Pair Corr

Moving against Global Etf

0.91	FNGD	MicroSectors FANG Index	Pair Corr
0.71	IHF	iShares Healthcare	Pair Corr
0.69	HUM	Humana Inc	Pair Corr
0.31	MCD	McDonalds	Pair Corr

Related Correlations Analysis

	AQWA	KROP	RNRG
AQWA		0.97	0.96	AQWA
KROP	0.97		0.93	KROP
RNRG	0.96	0.93		RNRG
	AQWA	KROP	RNRG

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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
AQWA	0.84	0.12	0.06	0.42	0.45	(1.01)	2.19	(1.23)	7.40
KROP	0.95	0.12	0.03	0.44	0.78	(1.25)	2.47	(1.51)	8.91
RNRG	0.91	0.23	0.12	0.68	0.60	(1.21)	2.23	(1.38)	8.13

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