Global X Correlations

SIL Etf

USD 48.19 0.60 1.23%

The current 90-days correlation between Global X Silver and Amplify ETF Trust is 0.97 (i.e., Almost no diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Global X moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Global X Silver moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Global X Correlation With Market

Very good diversification

The correlation between Global X Silver and DJI is -0.37 (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 Silver and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Global Etf

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Global X Silver. 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

0.85	GDX	VanEck Gold Miners	Pair Corr
1.0	SILJ	Amplify ETF Trust	Pair Corr
0.91	SGDM	Sprott Gold Miners	Pair Corr
0.92	SGDJ	Sprott Junior Gold	Pair Corr
0.88	GOAU	US Global GO	Pair Corr
0.89	GOEX	Global X Gold	Pair Corr
0.79	DHF	BNY Mellon High	Pair Corr
0.75	MAGS	Roundhill Magnificent	Pair Corr
0.9	ARP	Advisors Inner Circle	Pair Corr
0.66	PXMV	Invesco SP MidCap	Pair Corr
0.61	IGA	Voya Global Advantage	Pair Corr
0.8	SEMI	Columbia Seligman	Pair Corr
0.78	BUFD	FT Cboe Vest	Pair Corr
0.87	VABS	Virtus Newfleet ABSMBS	Pair Corr
0.7	EUSB	iShares Trust	Pair Corr
0.77	JPM	JPMorgan Chase	Pair Corr
0.75	BAC	Bank of America	Pair Corr
0.81	CVX	Chevron Corp	Pair Corr
0.76	DIS	Walt Disney	Pair Corr
0.68	BA	Boeing	Pair Corr
0.78	GE	GE Aerospace Earnings Call This Week	Pair Corr
0.84	IBM	International Business Earnings Call This Week	Pair Corr
0.78	MSFT	Microsoft	Pair Corr
0.62	DD	Dupont De Nemours	Pair Corr
0.8	PFE	Pfizer Inc	Pair Corr
0.71	AXP	American Express	Pair Corr
0.68	AA	Alcoa Corp	Pair Corr

Moving against Global Etf

0.41	PG	Procter Gamble	Pair Corr
0.38	KO	Coca Cola Earnings Call This Week	Pair Corr

Related Correlations Analysis

	SILJ	GDXJ	PAAS	CDE	HL
SILJ		0.92	0.9	0.88	0.76	SILJ
GDXJ	0.92		0.85	0.79	0.74	GDXJ
PAAS	0.9	0.85		0.64	0.87	PAAS
CDE	0.88	0.79	0.64		0.47	CDE
HL	0.76	0.74	0.87	0.47		HL
	SILJ	GDXJ	PAAS	CDE	HL

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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
SILJ	1.75	0.37	0.06	(0.37)	2.03	(1.84)	4.77	(3.42)	12.60
GDXJ	1.87	0.27	(0.01)	(0.10)	2.45	(1.94)	3.89	(3.81)	13.94
PAAS	2.03	0.27	(0.01)	(0.07)	3.61	(1.97)	4.70	(3.05)	22.62
CDE	2.53	0.72	0.23	(2.11)	1.90	(3.16)	6.24	(3.44)	28.49
HL	2.46	0.17	(0.02)	(0.05)	3.99	(2.52)	5.56	(4.37)	19.83

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