Global X Correlations

CTEK Etf

6.06 0.41 6.34%

The current 90-days correlation between Global X CleanTech and UBSFund Solutions MSCI is 0.23 (i.e., Modest 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

Average diversification

The correlation between Global X CleanTech and DJI is 0.16 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Global X CleanTech and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Global X could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Global X when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Global X - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Global X CleanTech to buy it.

Moving together with Global Etf

0.84	JPNJPA	UBSFund Solutions MSCI	Pair Corr
0.86	VUSA	Vanguard SP 500	Pair Corr
0.91	CSNKY	iShares VII PLC	Pair Corr
0.88	CSSPX	iShares Core SP	Pair Corr
0.83	LYJPN	Lyxor Japan UCITS	Pair Corr
0.9	EIMI	iShares Core MSCI	Pair Corr
0.88	IUSA	iShares SP 500	Pair Corr
0.9	MSE	Amundi EURO STOXX	Pair Corr
0.88	IFFF	iShares MSCI AC	Pair Corr
0.84	USCHWH	UBS ETF plc	Pair Corr
0.69	ISJP	iShares MSCI Japan	Pair Corr
0.95	VOLT	WisdomTree Battery	Pair Corr
0.96	RENW	LG Clean Energy	Pair Corr
0.84	XDPC	Xtrackers SP 500	Pair Corr
0.67	30ID	iShares iBonds Dec	Pair Corr
0.65	DTLC	iShares Treasury Bond	Pair Corr
0.88	WORLD	UBSETF MSCI World	Pair Corr
0.84	UEDA	iShares Ultrashort Bond	Pair Corr
0.88	JREB	JPMorgan ETFs Ireland	Pair Corr
0.97	SMHV	VanEck Semiconductor	Pair Corr
0.9	WUTI	SPDR MSCI World	Pair Corr
0.86	CSINDU	iShares VII PLC	Pair Corr
0.93	AWESGS	UBS ETF Plc	Pair Corr
0.76	EUFM	UBSFund Solutions MSCI	Pair Corr
0.65	BRIC	iShares BRIC 50	Pair Corr
0.94	CBMEM	Amundi MSCI Emerging	Pair Corr
0.9	IT25	iShares V PLC	Pair Corr
0.63	CBUS	UBSFund Solutions	Pair Corr
0.87	WRDUSW-USD	UBSETF MSCIWLD USDa	Pair Corr
0.92	INRG	iShares Global Clean	Pair Corr
0.81	CMES	iShares JP Morgan	Pair Corr
0.93	UQLTD-USD	UBSETF MS QLUSDd	Pair Corr
0.92	ISWD	iShares MSCI World	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.38	0.55	-0.72	0.71	-0.71	0.34	-0.22	-0.72	-0.66	META
MSFT	0.38		0.65	0.09	-0.23	0.16	0.5	0.24	-0.23	-0.12	MSFT
UBER	0.55	0.65		-0.28	0.24	-0.39	0.34	0.37	-0.62	-0.34	UBER
F	-0.72	0.09	-0.28		-0.76	0.79	0.03	0.32	0.62	0.72	F
T	0.71	-0.23	0.24	-0.76		-0.92	-0.02	-0.24	-0.57	-0.51	T
A	-0.71	0.16	-0.39	0.79	-0.92		-0.03	0.21	0.69	0.55	A
CRM	0.34	0.5	0.34	0.03	-0.02	-0.03		-0.15	-0.38	-0.29	CRM
JPM	-0.22	0.24	0.37	0.32	-0.24	0.21	-0.15		-0.16	0.38	JPM
MRK	-0.72	-0.23	-0.62	0.62	-0.57	0.69	-0.38	-0.16		0.54	MRK
XOM	-0.66	-0.12	-0.34	0.72	-0.51	0.55	-0.29	0.38	0.54		XOM
	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM

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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

A	+ 0.79	F
XOM	+ 0.72	F
T	+ 0.71	META
MRK	+ 0.69	A
UBER	+ 0.65	MSFT
MRK	+ 0.62	F

High negative correlations

A	- 0.92	T
T	- 0.76	F
MRK	- 0.72	META
F	- 0.72	META
A	- 0.71	META
XOM	- 0.66	META

Global X Competition 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
META	1.24	(0.35)	0.00	(0.38)	0.00	0.00	1.87	(2.72)	13.52
MSFT	0.85	(0.13)	0.00	(0.14)	0.00	0.00	1.85	(2.19)	5.08
UBER	1.50	(0.21)	0.00	(0.15)	0.00	0.00	3.34	(3.30)	10.91
F	1.50	0.16	0.10	0.14	1.66	(1.72)	3.66	(2.35)	16.30
T	1.00	(0.19)	0.00	(0.78)	0.00	0.00	1.84	(2.32)	6.25
A	1.32	0.34	0.25	0.30	1.02	(1.50)	3.93	(2.15)	11.03
CRM	1.61	(0.15)	0.00	(0.10)	0.00	0.00	2.93	(3.61)	9.91
JPM	0.89	0.00	0.00	0.04	1.33	(0.82)	1.67	(1.91)	5.76
MRK	1.29	0.19	0.13	0.38	1.14	(1.67)	3.84	(2.36)	11.45
XOM	0.93	0.10	0.06	0.40	1.10	(0.90)	1.78	(1.93)	4.71

Global X Related Equities

One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with Global X etf to make a market-neutral strategy. Peer analysis of Global X could also be used in its relative valuation, which is a method of valuing Global X by comparing valuation metrics with similar companies.

UBSFund Solutions MSCI Vanguard SP 500 iShares VII PLC iShares Core SP Lyxor Japan UCITS iShares Core MSCI iShares SP 500 Amundi EURO STOXX iShares Core Corp American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup SentinelOne

Risk & Return

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