Global X Correlations

EGLE Etf

USD 26.91 0.41 1.55%

The current 90-days correlation between Global X Funds and Golden Ocean Group is 0.09 (i.e., Significant 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

Modest diversification

The correlation between Global X Funds and DJI is 0.26 (i.e., Modest 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 Investing Opportunities 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 bureau of economic analysis.

Moving against Global Etf

0.32	GENT	Spinnaker ETF Series	Pair Corr
0.31	MCD	McDonalds	Pair Corr

Related Correlations Analysis

	SBLK	GOGL	GSL	DSX	GNK	DAC	CMRE	ASC	NMM
SBLK		0.38	0.86	0.61	0.76	0.67	0.41	0.77	0.85	SBLK
GOGL	0.38		0.26	0.75	0.65	0.32	0.58	0.28	0.72	GOGL
GSL	0.86	0.26		0.4	0.77	0.84	0.17	0.79	0.77	GSL
DSX	0.61	0.75	0.4		0.63	0.26	0.84	0.43	0.8	DSX
GNK	0.76	0.65	0.77	0.63		0.8	0.39	0.72	0.87	GNK
DAC	0.67	0.32	0.84	0.26	0.8		0.03	0.75	0.68	DAC
CMRE	0.41	0.58	0.17	0.84	0.39	0.03		0.32	0.54	CMRE
ASC	0.77	0.28	0.79	0.43	0.72	0.75	0.32		0.72	ASC
NMM	0.85	0.72	0.77	0.8	0.87	0.68	0.54	0.72		NMM
	SBLK	GOGL	GSL	DSX	GNK	DAC	CMRE	ASC	NMM

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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
SBLK	2.05	0.06	0.03	(0.42)	3.22	(2.06)	4.50	(4.43)	15.05
GOGL	3.07	(0.22)	0.00	(0.22)	0.00	0.00	7.88	(6.16)	24.24
GSL	1.90	0.27	0.08	0.21	2.82	(1.89)	5.06	(2.99)	17.99
DSX	2.01	(0.25)	0.00	(0.29)	0.00	0.00	4.38	(4.67)	13.89
GNK	1.98	0.02	0.00	(0.01)	0.00	0.00	4.64	(4.05)	14.11
DAC	1.72	0.08	0.03	0.04	2.33	(1.77)	4.71	(3.64)	12.25
CMRE	2.50	(0.18)	0.00	(0.20)	0.00	0.00	4.72	(5.00)	32.49
ASC	2.15	0.04	0.02	0.05	3.14	(2.07)	4.26	(5.08)	15.96
NMM	1.95	(0.09)	0.00	(0.11)	0.00	0.00	4.43	(4.13)	15.08

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Global X Correlations

Global X Correlation With Market

Modest diversification

Moving against Global Etf

Related Correlations Analysis

Global X Constituents Risk-Adjusted Indicators

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