Global X Correlations

LIT Etf

USD 38.43 1.32 3.32%

The current 90-days correlation between Global X Lithium and First Trust Exchange Traded is 0.81 (i.e., Very 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Global X Correlation With Market

Poor diversification

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

Build AI portfolio with Global Etf

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Global X Lithium. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in gross domestic product.

Moving together with Global Etf

0.84	XLB	Materials Select Sector	Pair Corr
0.84	VAW	Vanguard Materials Index	Pair Corr
0.65	XME	SPDR SP Metals	Pair Corr
0.81	PHO	Invesco Water Resources	Pair Corr
0.75	MOO	VanEck Agribusiness ETF	Pair Corr
0.81	FXZ	First Trust Materials	Pair Corr
0.82	FIW	First Trust Water	Pair Corr
0.61	URNM	Sprott Uranium Miners	Pair Corr
0.78	IYM	iShares Basic Materials	Pair Corr
0.79	UPRO	ProShares UltraPro SP500	Pair Corr
0.75	QTJA	Innovator ETFs Trust	Pair Corr
0.75	QTOC	Innovator ETFs Trust	Pair Corr
0.78	XTOC	Innovator ETFs Trust	Pair Corr
0.77	QTAP	Innovator Growth 100	Pair Corr
0.79	XTJA	Innovator ETFs Trust	Pair Corr
0.79	XTAP	Innovator Equity Acc	Pair Corr
0.73	VXUS	Vanguard Total Inter	Pair Corr
0.78	SITC	Site Centers Corp	Pair Corr
0.71	PHYL	PGIM Active High	Pair Corr
0.72	GLRY	Inspire Faithward Mid	Pair Corr
0.83	DIVY	Tidal ETF Trust	Pair Corr
0.88	WOOD	iShares Global Timber	Pair Corr
0.76	XLC	Communication Services	Pair Corr
0.86	FVD	First Trust Value	Pair Corr
0.81	THMZ	Lazard Equity Megatrends	Pair Corr
0.74	HECO	SPDR Galaxy Hedged	Pair Corr
0.74	KNCT	Invesco Next Gen	Pair Corr
0.78	VOO	Vanguard SP 500	Pair Corr
0.74	IBUF	Innovator ETFs Trust	Pair Corr
0.76	FLLV	Franklin Liberty Low	Pair Corr
0.76	DSCF	Discipline Fund ETF	Pair Corr
0.69	FPXE	First Trust IPOX	Pair Corr
0.86	MFSV	MFS Active Value	Pair Corr

Related Correlations Analysis

	MDEV	MDST	MEDX	MEDI	MGNR	MISL	DPST	DRIP	DRLL
MDEV		0.85	0.72	0.65	0.87	0.85	0.89	-0.88	0.69	MDEV
MDST	0.85		0.75	0.62	0.86	0.77	0.77	-0.9	0.84	MDST
MEDX	0.72	0.75		0.87	0.72	0.66	0.62	-0.67	0.69	MEDX
MEDI	0.65	0.62	0.87		0.76	0.72	0.51	-0.62	0.51	MEDI
MGNR	0.87	0.86	0.72	0.76		0.97	0.8	-0.94	0.74	MGNR
MISL	0.85	0.77	0.66	0.72	0.97		0.8	-0.89	0.63	MISL
DPST	0.89	0.77	0.62	0.51	0.8	0.8		-0.83	0.73	DPST
DRIP	-0.88	-0.9	-0.67	-0.62	-0.94	-0.89	-0.83		-0.87	DRIP
DRLL	0.69	0.84	0.69	0.51	0.74	0.63	0.73	-0.87		DRLL
	MDEV	MDST	MEDX	MEDI	MGNR	MISL	DPST	DRIP	DRLL

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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

MISL	+ 0.97	MGNR
DPST	+ 0.89	MDEV
MGNR	+ 0.87	MDEV
MEDI	+ 0.87	MEDX
MGNR	+ 0.86	MDST
MDST	+ 0.85	MDEV

High negative correlations

DRIP	- 0.94	MGNR
DRIP	- 0.9	MDST
DRIP	- 0.89	MISL
DRIP	- 0.88	MDEV
DRLL	- 0.87	DRIP
DRIP	- 0.83	DPST

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
MDEV	1.01	(0.06)	(0.04)	0.03	1.59	(1.02)	2.04	(2.56)	11.39
MDST	1.04	(0.10)	0.00	(0.04)	0.00	0.00	2.08	(2.04)	10.68
MEDX	1.26	(0.03)	(0.03)	0.04	1.97	(1.19)	2.86	(3.09)	7.98
MEDI	1.30	0.04	0.01	0.14	1.80	(1.32)	2.36	(2.98)	10.35
MGNR	1.24	0.10	0.04	0.18	2.08	(1.33)	2.23	(2.40)	14.28
MISL	1.03	0.25	0.12	0.37	1.63	(1.09)	2.08	(1.96)	10.79
DPST	4.60	0.22	0.06	0.15	7.20	(5.11)	9.48	(10.41)	41.06
DRIP	3.78	0.28	(0.01)	(0.01)	5.11	(4.35)	7.98	(6.39)	43.85
DRLL	1.55	(0.18)	0.00	(0.07)	0.00	0.00	2.54	(2.81)	15.55

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