Global X Correlations

EMC Etf

31.04 0.29 0.94%

The current 90-days correlation between Global X Funds and Franklin Templeton ETF is 0.82 (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 weak diversification

The correlation between Global X Funds and DJI is 0.45 (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 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 industry.

Moving together with Global Etf

0.95	VWO	Vanguard FTSE Emerging	Pair Corr
0.98	IEMG	iShares Core MSCI	Pair Corr
0.98	EEM	iShares MSCI Emerging	Pair Corr
0.97	SPEM	SPDR Portfolio Emerging	Pair Corr
0.96	FNDE	Schwab Fundamental	Pair Corr
0.98	ESGE	iShares ESG Aware	Pair Corr
0.9	SFGRX	Seafarer Overseas	Pair Corr
0.95	DGS	WisdomTree Emerging	Pair Corr
0.98	XSOE	WisdomTree Emerging	Pair Corr
0.68	ITWO	Proshares Russell 2000	Pair Corr
0.72	AMPD	Tidal ETF Services	Pair Corr
0.93	ITDD	iShares Trust	Pair Corr
0.85	SIXF	AIM ETF Products	Pair Corr
0.93	TDIV	First Trust NASDAQ	Pair Corr
0.87	VTI	Vanguard Total Stock	Pair Corr
0.87	MMLG	First Trust Exchange	Pair Corr
0.87	MPRO	Northern Lights	Pair Corr
0.92	PEJ	Invesco Dynamic Leisure	Pair Corr
0.9	VTV	Vanguard Value Index	Pair Corr
0.87	VUG	Vanguard Growth Index	Pair Corr
0.63	MAGA	Point Bridge GOP	Pair Corr
0.8	PPIE	Putnam ETF Trust	Pair Corr
0.69	IEZ	iShares Oil Equipment	Pair Corr
0.75	OCFS	Professionally Managed	Pair Corr
0.71	QQQG	Pacer Nasdaq 100	Pair Corr
0.87	DFSI	Dimensional International	Pair Corr
0.87	PSMJ	Pacer Swan SOS	Pair Corr
0.82	EVAV	Direxion Shares ETF	Pair Corr
0.91	NOVZ	Listed Funds Trust	Pair Corr
0.9	BITS	Global X Blockchain	Pair Corr
0.89	JUNZ	TrueShares Structured	Pair Corr
0.87	BBMC	JPMorgan BetaBuilders Mid	Pair Corr
0.82	ARKK	ARK Innovation ETF Aggressive Push	Pair Corr
0.92	MCHI	iShares MSCI China	Pair Corr
0.91	QDPL	Pacer Funds Trust	Pair Corr
0.72	REMX	VanEck Rare EarthStr	Pair Corr
0.84	VGSH	Vanguard Short Term	Pair Corr

Moving against Global Etf

0.63

MPAY

Exchange Traded Concepts

Pair Corr

Related Correlations Analysis

	DIEM	DIVB	DIVD	DIVG	DIVI	DIVL	DIVO	DIVP	MCSE
DIEM		0.76	0.75	0.79	0.9	0.82	0.92	0.11	0.01	DIEM
DIVB	0.76		0.92	0.89	0.81	0.94	0.85	0.57	0.22	DIVB
DIVD	0.75	0.92		0.88	0.9	0.92	0.77	0.62	0.14	DIVD
DIVG	0.79	0.89	0.88		0.82	0.96	0.85	0.57	0.05	DIVG
DIVI	0.9	0.81	0.9	0.82		0.88	0.86	0.32	-0.02	DIVI
DIVL	0.82	0.94	0.92	0.96	0.88		0.91	0.51	-0.01	DIVL
DIVO	0.92	0.85	0.77	0.85	0.86	0.91		0.17	-0.09	DIVO
DIVP	0.11	0.57	0.62	0.57	0.32	0.51	0.17		0.46	DIVP
MCSE	0.01	0.22	0.14	0.05	-0.02	-0.01	-0.09	0.46		MCSE
	DIEM	DIVB	DIVD	DIVG	DIVI	DIVL	DIVO	DIVP	MCSE

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

DIVL	+ 0.96	DIVG
DIVL	+ 0.94	DIVB
DIVO	+ 0.92	DIEM
DIVD	+ 0.92	DIVB
DIVL	+ 0.92	DIVD
DIVO	+ 0.91	DIVL

High negative correlations

MCSE	- 0.09	DIVO
MCSE	- 0.02	DIVI
MCSE	- 0.01	DIVL

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
DIEM	0.49	0.06	0.03	0.22	0.36	(0.55)	1.14	(0.83)	2.82
DIVB	0.46	(0.01)	(0.04)	0.07	0.46	(0.49)	1.09	(0.90)	2.78
DIVD	0.52	(0.03)	(0.06)	0.05	0.60	(0.53)	1.22	(1.11)	3.33
DIVG	0.52	0.01	(0.01)	0.11	0.45	(0.58)	1.08	(0.91)	2.77
DIVI	0.59	0.01	(0.01)	0.10	0.57	(0.62)	1.17	(1.05)	3.97
DIVL	0.41	0.01	(0.02)	0.11	0.30	(0.49)	1.23	(0.80)	2.74
DIVO	0.36	0.04	0.01	0.15	0.11	(0.41)	0.85	(0.61)	1.90
DIVP	0.51	(0.07)	(0.15)	0.00	0.58	(0.58)	1.04	(0.89)	3.21
MCSE	0.68	(0.09)	(0.10)	0.00	0.91	(0.69)	1.30	(1.46)	4.59

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