Global X Correlations

BRAZ Etf

USD 30.78 0.76 2.53%

The current 90-days correlation between Global X Funds and Macquarie ETF Trust is 0.48 (i.e., Very weak 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Global X Correlation With Market

Very weak diversification

The correlation between Global X Funds and DJI is 0.43 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Global X Funds and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Global Etf

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Global X Funds. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in nation.

Moving together with Global Etf

1.0	EWZ	iShares MSCI Brazil Aggressive Push	Pair Corr
0.92	ILF	iShares Latin America	Pair Corr
0.93	FLBR	Franklin FTSE Brazil	Pair Corr
0.96	FLLA	Franklin FTSE Latin	Pair Corr
0.89	BRF	VanEck Brazil Small	Pair Corr
0.73	FBZ	First Trust	Pair Corr
0.73	VTV	Vanguard Value Index	Pair Corr
0.82	SGVT	Schwab Strategic Trust	Pair Corr
0.68	FUSI	American Century ETF	Pair Corr
0.7	SLV	iShares Silver Trust Aggressive Push	Pair Corr
0.63	IAUM	iShares Gold Trust	Pair Corr
0.61	VT	Vanguard Total World	Pair Corr
0.71	USHY	iShares Broad USD	Pair Corr
0.79	EKG	First Trust Nasdaq	Pair Corr
0.8	PDBC	Invesco Optimum Yield	Pair Corr
0.76	DYLG	Global X Funds	Pair Corr
0.62	FALN	iShares Fallen Angels	Pair Corr
0.74	JPIE	JP Morgan Exchange	Pair Corr
0.66	SETM	Sprott Energy Transition	Pair Corr
0.81	SRLN	SPDR Blackstone Senior Sell-off Trend	Pair Corr
0.64	JULT	AIM ETF Products	Pair Corr
0.69	VGSH	Vanguard Short Term	Pair Corr

Moving against Global Etf

0.42

IRE

Tidal Trust II

Pair Corr

Related Correlations Analysis

	PWER	RFEU	EMIF	EMDV	EZJ	UGE	SCDS	DIVG	MNRS	VICE
PWER		0.92	0.79	0.65	0.83	0.62	0.92	0.89	-0.4	-0.21	PWER
RFEU	0.92		0.78	0.68	0.82	0.51	0.83	0.82	-0.44	-0.15	RFEU
EMIF	0.79	0.78		0.84	0.54	0.31	0.66	0.64	-0.75	-0.53	EMIF
EMDV	0.65	0.68	0.84		0.43	0.12	0.52	0.51	-0.69	-0.46	EMDV
EZJ	0.83	0.82	0.54	0.43		0.59	0.84	0.77	-0.02	0.08	EZJ
UGE	0.62	0.51	0.31	0.12	0.59		0.68	0.81	-0.06	0.2	UGE
SCDS	0.92	0.83	0.66	0.52	0.84	0.68		0.91	-0.22	-0.09	SCDS
DIVG	0.89	0.82	0.64	0.51	0.77	0.81	0.91		-0.33	-0.06	DIVG
MNRS	-0.4	-0.44	-0.75	-0.69	-0.02	-0.06	-0.22	-0.33		0.75	MNRS
VICE	-0.21	-0.15	-0.53	-0.46	0.08	0.2	-0.09	-0.06	0.75		VICE
	PWER	RFEU	EMIF	EMDV	EZJ	UGE	SCDS	DIVG	MNRS	VICE

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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

RFEU	+ 0.92	PWER
SCDS	+ 0.92	PWER
DIVG	+ 0.91	SCDS
DIVG	+ 0.89	PWER
EMDV	+ 0.84	EMIF
SCDS	+ 0.84	EZJ

High negative correlations

MNRS	- 0.75	EMIF
MNRS	- 0.69	EMDV
VICE	- 0.53	EMIF
VICE	- 0.46	EMDV
MNRS	- 0.44	RFEU
MNRS	- 0.4	PWER

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
PWER	1.00	0.13	0.10	0.23	1.09	(1.04)	2.21	(2.05)	5.13
RFEU	0.43	0.09	0.02	0.72	0.30	(0.56)	0.95	(0.86)	2.44
EMIF	0.58	0.13	0.11	0.43	0.46	(0.67)	1.62	(0.90)	3.81
EMDV	0.39	0.00	(0.15)	0.08	0.41	(0.44)	0.84	(0.69)	3.01
EZJ	1.41	0.05	0.05	0.12	1.78	(1.43)	3.85	(3.28)	9.12
UGE	1.18	0.10	0.03	0.36	1.21	(1.40)	2.69	(2.05)	7.45
SCDS	0.82	0.05	0.07	0.14	0.81	(0.94)	1.77	(1.53)	4.32
DIVG	0.56	0.01	(0.03)	0.11	0.58	(0.60)	1.45	(1.19)	3.19
MNRS	3.88	(0.60)	0.00	(0.14)	0.00	0.00	8.29	(7.81)	23.19
VICE	0.66	(0.07)	0.00	(0.28)	0.00	0.00	1.55	(1.53)	3.45

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