Global X Correlations

MLPA Etf

USD 49.99 0.36 0.71%

The current 90-days correlation between Global X MLP and Global X MLP is 0.92 (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.

Global X Correlation With Market

Poor diversification

The correlation between Global X MLP and DJI is 0.73 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Global X MLP 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 MLP. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in american community survey.

Moving together with Global Etf

0.85	EMLP	First Trust North	Pair Corr
0.93	MLPX	Global X MLP	Pair Corr
0.87	TPYP	Tortoise Capital Series	Pair Corr
0.98	AMZA	InfraCap MLP ETF	Pair Corr
0.99	MLPB	UBS AG London	Pair Corr
0.98	ATMP	Barclays ETN Select	Pair Corr
0.94	ENFR	Alerian Energy Infra	Pair Corr
1.0	AMUB	UBS AG London	Pair Corr
0.86	PFFL	ETRACS 2xMonthly Pay	Pair Corr
0.69	CEFD	ETRACS Monthly Pay	Pair Corr
0.9	AA	Alcoa Corp	Pair Corr
0.82	PFE	Pfizer Inc	Pair Corr
0.61	MRK	Merck Company	Pair Corr
0.84	CVX	Chevron Corp	Pair Corr
0.68	HPQ	HP Inc	Pair Corr

Moving against Global Etf

0.84	VXX	iPath Series B Low Volatility	Pair Corr
0.83	VIXY	ProShares VIX Short Low Volatility	Pair Corr
0.65	YCL	ProShares Ultra Yen	Pair Corr

Related Correlations Analysis

	MLPX	AMZA	AMLP	EMLP	BIZD
MLPX		0.91	0.94	0.94	0.93	MLPX
AMZA	0.91		0.99	0.78	0.84	AMZA
AMLP	0.94	0.99		0.85	0.89	AMLP
EMLP	0.94	0.78	0.85		0.92	EMLP
BIZD	0.93	0.84	0.89	0.92		BIZD
	MLPX	AMZA	AMLP	EMLP	BIZD

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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
MLPX	1.12	(0.02)	(0.01)	0.00	2.20	(1.00)	2.00	(2.42)	10.58
AMZA	1.51	(0.12)	0.00	(0.10)	0.00	0.00	3.44	(3.78)	11.81
AMLP	1.07	(0.09)	0.00	(0.09)	0.00	0.00	1.98	(2.26)	7.82
EMLP	0.87	(0.01)	(0.01)	0.01	1.69	(0.75)	1.75	(1.80)	7.33
BIZD	1.14	(0.04)	0.00	(0.02)	0.00	0.00	1.83	(2.48)	10.51

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