Global X Correlations

DRIV Etf

USD 27.60 0.25 0.90%

The current 90-days correlation between Global X Autonomous and VanEck Biotech ETF is -0.15 (i.e., Good 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

Good diversification

The correlation between Global X Autonomous and DJI is -0.07 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Global X Autonomous and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Global Etf

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Global X Autonomous. 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	ICLN	iShares Global Clean Sell-off Trend	Pair Corr
0.91	XT	iShares Exponential	Pair Corr
0.88	TAN	Invesco Solar ETF	Pair Corr
0.88	QCLN	First Trust NASDAQ	Pair Corr
0.82	BOTZ	Global X Robotics	Pair Corr
0.88	ACES	ALPS Clean Energy	Pair Corr
0.87	USD	ProShares Ultra Semi	Pair Corr
0.9	TECL	Direxion Daily Technology	Pair Corr
0.92	ROM	ProShares Ultra Tech	Pair Corr
0.91	SMH	VanEck Semiconductor ETF	Pair Corr
0.88	QLD	ProShares Ultra QQQ	Pair Corr
0.84	SPXL	Direxion Daily SP500	Pair Corr
0.84	UPRO	ProShares UltraPro SP500	Pair Corr
0.92	SOXX	iShares Semiconductor ETF	Pair Corr
0.86	PPI	Investment Managers	Pair Corr
0.82	FB	ProShares Trust ProShares	Pair Corr
0.83	TOT	Advisor Managed Port	Pair Corr
0.86	FELG	Fidelity Covington Trust	Pair Corr
0.77	SGDJ	Sprott Junior Gold	Pair Corr
0.89	JEPQ	JPMorgan Nasdaq Equity	Pair Corr
0.85	MUNC	Northern Funds	Pair Corr
0.93	HLAL	Wahed FTSE USA	Pair Corr
0.89	IGM	iShares Expanded Tech	Pair Corr
0.86	TAXI	Northern Trust Inter	Pair Corr
0.87	OCTD	Innovator Capital	Pair Corr
0.97	FEMR	Fidelity Covington Trust	Pair Corr
0.85	EVMO	Morgan Stanley ETF	Pair Corr
0.91	IYW	iShares Technology ETF	Pair Corr
0.66	CNXT	VanEck ChiNext ETF	Pair Corr
0.63	PDBC	Invesco Optimum Yield	Pair Corr
0.71	SLV	iShares Silver Trust	Pair Corr

Moving against Global Etf

0.6

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Pair Corr

Related Correlations Analysis

	BBH	DJD	EWD	CWEB	IDUB	PSP	CDL	GVUS	SMOT	DGRS
BBH		0.86	0.25	-0.37	0.6	-0.89	-0.05	0.53	-0.55	-0.7	BBH
DJD	0.86		0.46	-0.1	0.71	-0.66	0.28	0.74	-0.27	-0.48	DJD
EWD	0.25	0.46		0.47	0.84	0.01	0.38	0.81	0.33	0.2	EWD
CWEB	-0.37	-0.1	0.47		0.39	0.48	0.32	0.3	0.44	0.53	CWEB
IDUB	0.6	0.71	0.84	0.39		-0.38	0.25	0.88	-0.07	-0.16	IDUB
PSP	-0.89	-0.66	0.01	0.48	-0.38		0.22	-0.26	0.76	0.83	PSP
CDL	-0.05	0.28	0.38	0.32	0.25	0.22		0.46	0.44	0.31	CDL
GVUS	0.53	0.74	0.81	0.3	0.88	-0.26	0.46		0.08	-0.09	GVUS
SMOT	-0.55	-0.27	0.33	0.44	-0.07	0.76	0.44	0.08		0.92	SMOT
DGRS	-0.7	-0.48	0.2	0.53	-0.16	0.83	0.31	-0.09	0.92		DGRS
	BBH	DJD	EWD	CWEB	IDUB	PSP	CDL	GVUS	SMOT	DGRS

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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

DGRS	+ 0.92	SMOT
GVUS	+ 0.88	IDUB
DJD	+ 0.86	BBH
IDUB	+ 0.84	EWD
DGRS	+ 0.83	PSP
GVUS	+ 0.81	EWD

High negative correlations

PSP	- 0.89	BBH
DGRS	- 0.7	BBH
PSP	- 0.66	DJD
SMOT	- 0.55	BBH
DGRS	- 0.48	DJD
PSP	- 0.38	IDUB

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
BBH	0.78	0.18	0.18	0.29	0.64	(0.85)	1.74	(1.62)	5.38
DJD	0.49	0.03	0.03	0.08	0.39	(0.64)	1.18	(0.78)	2.68
EWD	0.70	(0.06)	0.00	(0.03)	0.00	0.00	1.24	(1.55)	3.38
CWEB	2.56	(0.27)	0.00	(0.10)	0.00	0.00	4.75	(4.72)	19.94
IDUB	0.56	0.00	(0.01)	0.04	0.65	(0.61)	1.17	(1.17)	4.09
PSP	0.82	(0.18)	0.00	(0.11)	0.00	0.00	1.70	(2.15)	5.13
CDL	0.49	(0.02)	(0.07)	0.00	0.56	(0.53)	1.04	(1.05)	2.69
GVUS	0.49	(0.01)	(0.03)	0.02	0.63	(0.49)	1.04	(1.08)	3.29
SMOT	0.68	(0.10)	0.00	(0.05)	0.00	0.00	1.24	(1.33)	4.05
DGRS	0.82	(0.14)	0.00	(0.07)	0.00	0.00	2.08	(1.78)	4.95

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