Global X Correlations

BUG Etf

USD 36.93 0.21 0.57%

The current 90-days correlation between Global X Cybersecurity and Strategy Shares is 0.19 (i.e., Average 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

Good diversification

The correlation between Global X Cybersecurity and DJI is -0.17 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Global X Cybersecurity 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 Cybersecurity. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in employment.

Moving together with Global Etf

0.97	VGT	Vanguard Information	Pair Corr
0.97	XLK	Technology Select Sector	Pair Corr
0.97	IYW	iShares Technology ETF	Pair Corr
0.96	SMH	VanEck Semiconductor ETF	Pair Corr
0.96	SOXX	iShares Semiconductor ETF	Pair Corr
0.98	CIBR	First Trust NASDAQ	Pair Corr
0.97	FTEC	Fidelity MSCI Information	Pair Corr
0.97	IGV	iShares Expanded Tech Low Volatility	Pair Corr
0.97	FDN	First Trust Dow	Pair Corr
0.97	IGM	iShares Expanded Tech	Pair Corr
0.95	SHLD	Global X Funds	Pair Corr
0.86	LUX	Tema ETF Trust	Pair Corr
0.97	SWP	SWP Growth Income	Pair Corr
0.91	DUKH	Ocean Park High	Pair Corr
0.97	WINN	Harbor Long Term	Pair Corr
0.75	BAC	Bank of America Aggressive Push	Pair Corr
0.77	DD	Dupont De Nemours	Pair Corr
0.73	GE	GE Aerospace	Pair Corr
0.85	PFE	Pfizer Inc Aggressive Push	Pair Corr
0.8	DIS	Walt Disney	Pair Corr
0.64	BA	Boeing	Pair Corr
0.66	INTC	Intel	Pair Corr
0.65	CVX	Chevron Corp	Pair Corr
0.76	IBM	International Business	Pair Corr

Moving against Global Etf

0.95	FNGD	MicroSectors FANG Index	Pair Corr
0.71	HUM	Humana Inc	Pair Corr
0.43	MCD	McDonalds Sell-off Trend	Pair Corr

Related Correlations Analysis

	DHSB	MBOX	DIEM	MCHI	DIPS	DISO	DIVB	DIVD	DIVG
DHSB		0.89	0.94	0.9	-0.86	0.84	0.92	0.85	0.78	DHSB
MBOX	0.89		0.94	0.92	-0.84	0.8	0.98	0.81	0.77	MBOX
DIEM	0.94	0.94		0.93	-0.93	0.82	0.97	0.81	0.74	DIEM
MCHI	0.9	0.92	0.93		-0.79	0.84	0.92	0.85	0.79	MCHI
DIPS	-0.86	-0.84	-0.93	-0.79		-0.71	-0.9	-0.66	-0.57	DIPS
DISO	0.84	0.8	0.82	0.84	-0.71		0.85	0.94	0.92	DISO
DIVB	0.92	0.98	0.97	0.92	-0.9	0.85		0.84	0.79	DIVB
DIVD	0.85	0.81	0.81	0.85	-0.66	0.94	0.84		0.96	DIVD
DIVG	0.78	0.77	0.74	0.79	-0.57	0.92	0.79	0.96		DIVG
	DHSB	MBOX	DIEM	MCHI	DIPS	DISO	DIVB	DIVD	DIVG

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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

DIVB	+ 0.98	MBOX
DIVB	+ 0.97	DIEM
DIVG	+ 0.96	DIVD
DIEM	+ 0.94	DHSB
DIEM	+ 0.94	MBOX
DIVD	+ 0.94	DISO

High negative correlations

DIPS	- 0.93	DIEM
DIVB	- 0.9	DIPS
DIPS	- 0.86	DHSB
DIPS	- 0.84	MBOX
DIPS	- 0.79	MCHI
DISO	- 0.71	DIPS

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
DHSB	0.51	0.06	(0.03)	(0.52)	0.94	(0.50)	1.18	(1.88)	6.57
MBOX	0.91	(0.04)	(0.03)	0.04	1.60	(0.84)	1.73	(1.99)	10.07
DIEM	0.88	0.10	0.05	0.22	1.29	(0.93)	2.34	(1.57)	8.25
MCHI	1.24	(0.04)	(0.03)	0.03	1.96	(1.45)	3.39	(2.01)	8.62
DIPS	2.04	(0.39)	0.00	0.35	0.00	0.00	2.82	(4.27)	22.25
DISO	0.98	0.53	0.35	(2.44)	0.59	(1.30)	1.97	(1.21)	11.99
DIVB	0.95	0.01	0.00	0.10	1.68	(0.92)	1.69	(1.88)	9.77
DIVD	0.70	0.29	0.22	(1.79)	0.40	(0.84)	1.55	(1.15)	9.14
DIVG	0.79	0.24	0.12	(1.35)	0.80	(0.88)	1.57	(1.19)	9.33

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