Global X Correlations

COLO Etf   29.99  0.11  0.37%   
The current 90-days correlation between Global X Funds and Strategy Shares is -0.13 (i.e., Good 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 Funds 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 Funds and DJI is 0.13 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Global X Funds and DJI in the same portfolio, assuming nothing else is changed.
Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Global X Funds. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in bureau of economic analysis.

Moving together with Global Etf

  0.96VTI Vanguard Total Stock Sell-off TrendPairCorr
  0.95SPY SPDR SP 500 Sell-off TrendPairCorr
  0.95IVV iShares Core SP Sell-off TrendPairCorr
  0.92VTV Vanguard Value IndexPairCorr
  0.96VUG Vanguard Growth IndexPairCorr
  0.96VO Vanguard Mid CapPairCorr
  0.95VEA Vanguard FTSE DevelopedPairCorr
  0.96VB Vanguard Small CapPairCorr
  0.95VWO Vanguard FTSE Emerging Sell-off TrendPairCorr
  0.97XOVR ERShares Private Public Symbol ChangePairCorr
  0.65HBTA Horizon FundsPairCorr
  0.65BCHP EGSHARES BLUE CHIPPairCorr
  0.63EUSB iShares TrustPairCorr
  0.95BUFD FT Cboe VestPairCorr
  0.81KGRN KraneShares MSCI ChinaPairCorr
  0.87VABS Virtus Newfleet ABSMBSPairCorr
  0.94AXP American ExpressPairCorr
  0.76CVX Chevron CorpPairCorr
  0.95GE GE Aerospace Earnings Call This WeekPairCorr
  0.93CAT CaterpillarPairCorr
  0.96BAC Bank of AmericaPairCorr
  0.93BA BoeingPairCorr
  0.94MSFT MicrosoftPairCorr
  0.88MMM 3M CompanyPairCorr
  0.92CSCO Cisco SystemsPairCorr
  0.67INTC Intel Earnings Call This WeekPairCorr
  0.9AA Alcoa CorpPairCorr
  0.86DD Dupont De NemoursPairCorr

Moving against Global Etf

  0.6MCD McDonaldsPairCorr
  0.56KO Coca Cola Earnings Call This WeekPairCorr
  0.43PG Procter GamblePairCorr

Related Correlations Analysis

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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   
MSFTMETA
JPMMSFT
JPMMETA
AMETA
JPMF
FUBER
  
High negative correlations   
MRKCRM
XOMCRM

Global X Competition 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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
META  1.51  0.26  0.21  0.32  1.10 
 3.99 
 10.48 
MSFT  0.90  0.30  0.27  0.47  0.54 
 2.33 
 8.85 
UBER  1.64  0.20  0.13  0.33  1.40 
 4.19 
 10.87 
F  1.32  0.14  0.06  0.32  1.47 
 2.69 
 7.46 
T  1.02 (0.05)(0.10) 0.00  1.35 
 2.35 
 5.71 
A  1.46 (0.07) 0.00  0.09  1.81 
 2.54 
 14.01 
CRM  1.33 (0.13)(0.04) 0.04  1.74 
 2.95 
 9.31 
JPM  0.90  0.22  0.18  0.38  0.67 
 2.25 
 6.03 
MRK  1.39 (0.09)(0.05) 0.04  1.96 
 2.88 
 10.58 
XOM  1.08  0.14  0.00 (9.00) 1.19 
 2.40 
 5.84