| CLOU Etf | | | USD 23.22 0.32 1.40% |
The current 90-days correlation between Global X Cloud and Global X Cybersecurity is -0.04 (i.e., Good 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
Good diversification
The correlation between Global X Cloud and DJI is -0.19 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Global X Cloud and DJI in the same portfolio, assuming nothing else is changed.
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