Global X Correlations

QYLG Etf  USD 27.85  0.13  0.47%   
The current 90-days correlation between Global X Nasdaq and Global X Dow is 0.94 (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

Good diversification

The correlation between Global X Nasdaq and DJI is -0.08 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Global X Nasdaq and DJI in the same portfolio, assuming nothing else is changed.
Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Global X Nasdaq. 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

  0.76JEPI JPMorgan Equity PremiumPairCorr
  0.72XYLD Global X SPPairCorr
  0.94DIVO Amplify CWP EnhancedPairCorr
  0.72RYLD Global X RussellPairCorr
  0.78JEPQ JPMorgan Nasdaq EquityPairCorr
  0.69KNG FT Cboe VestPairCorr
  0.8BUYW Main Buywrite ETFPairCorr
  0.81IDME International DrawdownPairCorr
  0.96USD ProShares Ultra SemiPairCorr
  0.89GBTC Grayscale Bitcoin TrustPairCorr
  0.98FNGO MicroSectors FANG IndexPairCorr
  0.84CRPT First Trust SkyBridgePairCorr
  0.79BITO ProShares Bitcoin Sell-off TrendPairCorr
  0.79FNGG Direxion Daily SelectPairCorr
  0.98BULZ MicroSectors SolactivePairCorr
  0.73BITS Global X BlockchainPairCorr
  0.95SATO Invesco Alerian Galaxy Low VolatilityPairCorr
  0.88MMM 3M CompanyPairCorr
  0.93IBM International BusinessPairCorr
  0.96MSFT MicrosoftPairCorr
  0.71PFE Pfizer Inc Aggressive PushPairCorr
  0.67HD Home Depot Sell-off TrendPairCorr
  0.97JPM JPMorgan ChasePairCorr
  0.71WMT WalmartPairCorr
  0.94BA Boeing Aggressive PushPairCorr
  0.76AA Alcoa CorpPairCorr
  0.73TRV The Travelers CompaniesPairCorr
  0.71DD Dupont De NemoursPairCorr

Moving against Global Etf

  0.44FNGU MicroSectors FANG Index Symbol ChangePairCorr
  0.37MCD McDonalds Sell-off TrendPairCorr

Related Correlations Analysis

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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.