Global X Correlations

Etfs . USA . 
Etf . Global X Gold
GOEX Etf  USD 45.10  0.03  0.07%   
The current 90-days correlation between Global X Gold and US Global GO is 0.95 (i.e., Almost no 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

Very good diversification

The correlation between Global X Gold and DJI is -0.47 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Global X Gold and DJI in the same portfolio, assuming nothing else is changed.
  
Build AI portfolio with Global Etf
Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Global X Gold. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in income.

Moving together with Global Etf

  0.91GDX VanEck Gold MinersPairCorr
  0.89SIL Global X SilverPairCorr
  0.89SILJ Amplify ETF TrustPairCorr
  0.94SGDM Sprott Gold MinersPairCorr
  0.98SGDJ Sprott Junior GoldPairCorr
  0.99GOAU US Global GOPairCorr
  0.62MAGS Roundhill MagnificentPairCorr
  0.78ARP Advisors Inner CirclePairCorr
  0.65IGA Voya Global AdvantagePairCorr
  0.64SEMI Columbia SeligmanPairCorr
  0.63BUFD FT Cboe VestPairCorr
  0.7VABS Virtus Newfleet ABSMBSPairCorr
  0.67DIS Walt DisneyPairCorr
  0.71GE GE Aerospace Earnings Call This WeekPairCorr
  0.69IBM International Business Earnings Call This WeekPairCorr
  0.65MSFT MicrosoftPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

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.

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions
 
Feedback Blog
Made with optimal in San Francisco
2025 Macroaxis LLC
COMMON DESTINATIONS
MAIN CATEGORIES
COMPANY