Global X Correlations

HEAL Etf

26.45 0.06 0.23%

The current 90-days correlation between Global X HealthTech and Hartford Quality Growth is 0.64 (i.e., Poor diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Global X moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Global X HealthTech moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Global X Correlation With Market

Very good diversification

The correlation between Global X HealthTech and DJI is -0.45 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Global X HealthTech and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Global Etf

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Global X HealthTech. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in nation.

Moving together with Global Etf

0.92	IHI	iShares Medical Devices	Pair Corr
0.81	IHF	iShares Healthcare	Pair Corr
0.8	SOCL	Global X Social	Pair Corr

Moving against Global Etf

0.8	AIVI	WisdomTree International	Pair Corr
0.55	PCLN	2023 ETF	Pair Corr
0.48	DUSA	Davis Select Equity	Pair Corr
0.43	IXJ	iShares Global Healthcare	Pair Corr
0.34	BUFF	Innovator Laddered	Pair Corr
0.34	FB	ProShares Trust ProShares	Pair Corr
0.88	DOGG	First Trust Exchange	Pair Corr
0.78	GENW	Spinnaker ETF Series	Pair Corr
0.74	EMES	Harbor ETF Trust	Pair Corr
0.73	FNDC	Schwab Fundamental	Pair Corr
0.71	BSMS	Invesco BulletShares 2028	Pair Corr
0.7	QLV	FlexShares Quality Low	Pair Corr
0.68	VGUS	Vanguard Ultra Short	Pair Corr
0.68	WLDR	Affinity World Leaders	Pair Corr
0.67	FXC	Invesco CurrencyShares	Pair Corr
0.63	JEPI	JPMorgan Equity Premium	Pair Corr
0.55	GENT	Spinnaker ETF Series	Pair Corr
0.53	GPT	Intelligent Alpha Atlas Symbol Change	Pair Corr
0.48	ESML	iShares ESG Aware	Pair Corr
0.46	PFF	iShares Preferred Sell-off Trend	Pair Corr
0.42	LUX	Tema Global	Pair Corr
0.31	JANW	AIM ETF Products	Pair Corr
0.83	UDI	USCF ETF Trust	Pair Corr
0.82	LVHI	Franklin International	Pair Corr
0.75	XFIX	Fm Investments Symbol Change	Pair Corr
0.75	SCDV	ETF Series Solutions	Pair Corr
0.73	REGL	ProShares SP MidCap	Pair Corr
0.71	TAXT	Northern Trust Tax	Pair Corr

Related Correlations Analysis

	FCUS	TEKY	DEMZ	KSTR	HRTS	FMET	GAMR	EGGQ	PSR	HQGO
FCUS		-0.3	0.63	0.93	0.74	-0.36	-0.68	0.0	0.72	0.35	FCUS
TEKY	-0.3		0.32	-0.14	-0.07	0.83	0.78	0.67	-0.6	0.46	TEKY
DEMZ	0.63	0.32		0.66	0.79	0.45	0.04	0.58	0.08	0.86	DEMZ
KSTR	0.93	-0.14	0.66		0.7	-0.24	-0.54	-0.05	0.58	0.3	KSTR
HRTS	0.74	-0.07	0.79	0.7		0.01	-0.35	0.19	0.41	0.6	HRTS
FMET	-0.36	0.83	0.45	-0.24	0.01		0.89	0.75	-0.74	0.61	FMET
GAMR	-0.68	0.78	0.04	-0.54	-0.35	0.89		0.58	-0.83	0.25	GAMR
EGGQ	0.0	0.67	0.58	-0.05	0.19	0.75	0.58		-0.37	0.78	EGGQ
PSR	0.72	-0.6	0.08	0.58	0.41	-0.74	-0.83	-0.37		-0.15	PSR
HQGO	0.35	0.46	0.86	0.3	0.6	0.61	0.25	0.78	-0.15		HQGO
	FCUS	TEKY	DEMZ	KSTR	HRTS	FMET	GAMR	EGGQ	PSR	HQGO

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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

KSTR	+ 0.93	FCUS
GAMR	+ 0.89	FMET
HQGO	+ 0.86	DEMZ
FMET	+ 0.83	TEKY
HRTS	+ 0.79	DEMZ
GAMR	+ 0.78	TEKY

High negative correlations

PSR	- 0.83	GAMR
PSR	- 0.74	FMET
GAMR	- 0.68	FCUS
PSR	- 0.6	TEKY
GAMR	- 0.54	KSTR
PSR	- 0.37	EGGQ

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
FCUS	1.66	0.29	0.14	0.27	1.96	(1.78)	4.33	(3.57)	10.49
TEKY	1.03	(0.08)	0.00	0.47	0.00	0.00	1.71	(2.81)	6.59
DEMZ	0.67	(0.02)	(0.03)	0.04	0.93	(0.65)	1.39	(1.49)	3.98
KSTR	1.21	0.15	0.06	0.57	1.55	(1.15)	2.15	(2.43)	7.79
HRTS	0.74	0.04	0.01	0.13	0.66	(0.88)	1.85	(1.26)	3.78
FMET	0.81	(0.19)	0.00	(0.13)	0.00	0.00	1.34	(2.56)	4.81
GAMR	1.06	(0.34)	0.00	(0.30)	0.00	0.00	1.64	(2.94)	7.36
EGGQ	1.30	(0.08)	(0.04)	(0.01)	2.11	(1.26)	2.72	(2.80)	12.89
PSR	0.57	0.08	0.05	0.30	0.65	(0.57)	1.49	(1.24)	3.05
HQGO	0.65	(0.05)	(0.06)	0.01	0.87	(0.68)	1.26	(1.50)	4.24

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