Global X Correlations

Etfs . USA . 
Etf . Global X FinTech
FINX Etf  USD 35.21  0.26  0.74%   
The current 90-days correlation between Global X FinTech and Amplify ETF Trust is 0.94 (i.e., Almost no 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

Poor diversification

The correlation between Global X FinTech and DJI is 0.7 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Global X FinTech 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 FinTech. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in board of governors.

Moving together with Global Etf

  0.98VGT Vanguard InformationPairCorr
  0.98XLK Technology Select SectorPairCorr
  0.98IYW iShares Technology ETFPairCorr
  0.99SMH VanEck Semiconductor ETFPairCorr
  0.99SOXX iShares Semiconductor ETFPairCorr
  0.93CIBR First Trust NASDAQPairCorr
  0.98FTEC Fidelity MSCI InformationPairCorr
  0.94IGV iShares Expanded Tech Sell-off TrendPairCorr
  0.96FDN First Trust DowPairCorr
  0.98IGM iShares Expanded TechPairCorr
  0.97USD ProShares Ultra Semi Downward RallyPairCorr
  0.88GBTC Grayscale Bitcoin TrustPairCorr
  0.97FNGO MicroSectors FANG IndexPairCorr
  0.87BITO ProShares BitcoinPairCorr
  0.96CRPT First Trust SkyBridgePairCorr
  0.85NRGU Bank of MontrealPairCorr
  0.98BULZ MicroSectors SolactivePairCorr
  0.95BITS Global X BlockchainPairCorr
  0.98FNGG Direxion Daily SelectPairCorr
  0.97DFEN Direxion Daily AerospacePairCorr
  0.89DD Dupont De Nemours Earnings Call This WeekPairCorr
  0.91AA Alcoa CorpPairCorr
  0.96MSFT Microsoft Earnings Call Next WeekPairCorr
  0.94DIS Walt DisneyPairCorr
  0.97JPM JPMorgan ChasePairCorr
  0.89BA Boeing Earnings Call This WeekPairCorr
  0.87MMM 3M CompanyPairCorr
  0.62XOM Exxon Mobil CorpPairCorr
  0.87CVX Chevron CorpPairCorr
  0.98CSCO Cisco Systems Sell-off TrendPairCorr

Moving against Global Etf

  0.75MCD McDonaldsPairCorr
  0.55KO Coca ColaPairCorr
  0.53PG Procter Gamble Earnings Call This WeekPairCorr
  0.47VZ Verizon Communications Aggressive PushPairCorr

Related Correlations Analysis

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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.

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