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.
Moving together with Global Etf
0.76 | JEPI | JPMorgan Equity Premium | PairCorr |
0.72 | XYLD | Global X SP | PairCorr |
0.94 | DIVO | Amplify CWP Enhanced | PairCorr |
0.72 | RYLD | Global X Russell | PairCorr |
0.78 | JEPQ | JPMorgan Nasdaq Equity | PairCorr |
0.69 | KNG | FT Cboe Vest | PairCorr |
0.8 | BUYW | Main Buywrite ETF | PairCorr |
0.81 | IDME | International Drawdown | PairCorr |
0.96 | USD | ProShares Ultra Semi | PairCorr |
0.89 | GBTC | Grayscale Bitcoin Trust | PairCorr |
0.98 | FNGO | MicroSectors FANG Index | PairCorr |
0.84 | CRPT | First Trust SkyBridge | PairCorr |
0.79 | BITO | ProShares Bitcoin Sell-off Trend | PairCorr |
0.79 | FNGG | Direxion Daily Select | PairCorr |
0.98 | BULZ | MicroSectors Solactive | PairCorr |
0.73 | BITS | Global X Blockchain | PairCorr |
0.95 | SATO | Invesco Alerian Galaxy Low Volatility | PairCorr |
0.88 | MMM | 3M Company | PairCorr |
0.93 | IBM | International Business | PairCorr |
0.96 | MSFT | Microsoft | PairCorr |
0.71 | PFE | Pfizer Inc Aggressive Push | PairCorr |
0.67 | HD | Home Depot Sell-off Trend | PairCorr |
0.97 | JPM | JPMorgan Chase | PairCorr |
0.71 | WMT | Walmart | PairCorr |
0.94 | BA | Boeing Aggressive Push | PairCorr |
0.76 | AA | Alcoa Corp | PairCorr |
0.73 | TRV | The Travelers Companies | PairCorr |
0.71 | DD | Dupont De Nemours | PairCorr |
Moving against Global Etf
0.44 | FNGU | MicroSectors FANG Index Symbol Change | PairCorr |
0.37 | MCD | McDonalds Sell-off Trend | PairCorr |
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.Mean Deviation | Jensen Alpha | Sortino Ratio | Treynor Ratio | Semi Deviation | Expected Shortfall | Potential Upside | Value @Risk | Maximum Drawdown | ||
---|---|---|---|---|---|---|---|---|---|---|
DJIA | 0.70 | 0.02 | (0.05) | (5.57) | 1.52 | 1.45 | 9.64 | |||
VEGA | 0.58 | 0.23 | 0.15 | (2.09) | 0.43 | 1.44 | 7.07 | |||
DYLG | 0.71 | 0.15 | 0.11 | 0.34 | 0.70 | 1.52 | 10.22 | |||
FDND | 1.17 | 0.37 | 0.31 | 0.58 | 0.77 | 3.00 | 14.22 | |||
GQI | 0.84 | 0.28 | 0.15 | (1.32) | 0.74 | 2.44 | 10.96 | |||
XYLG | 0.79 | 0.21 | 0.14 | 0.42 | 0.77 | 2.00 | 12.79 | |||
PAPI | 0.72 | 0.15 | 0.04 | (1.04) | 0.63 | 1.93 | 6.88 | |||
GLDI | 0.56 | 0.09 | 0.00 | 1.09 | 0.67 | 1.36 | 3.52 | |||
GPIQ | 1.08 | 0.23 | 0.05 | (1.98) | 1.60 | 2.45 | 15.42 |