Global X Correlations

SPFF Etf  USD 8.78  0.07  0.80%   
The current 90-days correlation between Global X SuperIncome and Global X Dow 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.

Global X Correlation With Market

Very poor diversification

The correlation between Global X SuperIncome and DJI is 0.84 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Global X SuperIncome and DJI in the same portfolio, assuming nothing else is changed.
Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Global X SuperIncome. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as various price indices.

Moving together with Global Etf

  0.96PGX Invesco Preferred ETFPairCorr
  0.87VRP Invesco Variable RatePairCorr
  0.96PGF Invesco FinancialPairCorr
  0.97PSK SPDR ICE PreferredPairCorr
  0.99PFXF VanEck Preferred SecPairCorr
  0.87USD ProShares Ultra SemiPairCorr
  0.9TECL Direxion Daily TechnologyPairCorr
  0.9QLD ProShares Ultra QQQPairCorr
  0.92SMH VanEck Semiconductor ETFPairCorr
  0.95SOXX iShares Semiconductor ETFPairCorr
  0.93SPXL Direxion Daily SP500PairCorr
  0.93UPRO ProShares UltraPro SP500PairCorr
  0.94CAT CaterpillarPairCorr
  0.66HD Home DepotPairCorr
  0.92DD Dupont De NemoursPairCorr
  0.63CVX Chevron CorpPairCorr
  0.86IBM International BusinessPairCorr
  0.89HPQ HP IncPairCorr
  0.77AXP American ExpressPairCorr
  0.93BAC Bank of AmericaPairCorr
  0.61MSFT MicrosoftPairCorr
  0.85PFE Pfizer IncPairCorr
  0.95DIS Walt Disney Earnings Call TomorrowPairCorr

Moving against Global Etf

  0.46KO Coca ColaPairCorr
  0.43VZ Verizon CommunicationsPairCorr
  0.38MCD McDonaldsPairCorr

Related Correlations Analysis

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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   
MILNDJIA
DRIVHYDR
QRMIDJIA
DRIVDJIA
MILNQRMI
HYDRQRMI
  
High negative correlations   
MLDRQRMI
MLDRHYDR
MLDRMILN
MLDRDJIA
MLDRDRIV
DRIVHYLG

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.