Global X Correlations

PAVE Etf

USD 46.15 0.59 1.29%

The current 90-days correlation between Global X Infrastructure and iShares Infrastructure ETF is 0.87 (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

Poor diversification

The correlation between Global X Infrastructure 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 Infrastructure and DJI in the same portfolio, assuming nothing else is changed.

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Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Global X Infrastructure. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in real.

Moving together with Global Etf

0.89	IGF	iShares Global Infra	Pair Corr
0.87	NFRA	FlexShares STOXX Global	Pair Corr
0.99	IFRA	iShares Infrastructure	Pair Corr
0.88	GII	SPDR SP Global	Pair Corr
0.99	SIMS	SPDR SP Kensho	Pair Corr
0.74	INFR	ClearBridge Sustainable	Pair Corr
0.99	XKII	SPDR Kensho Intelligent	Pair Corr
0.77	OIH	VanEck Oil Services	Pair Corr
0.94	ARKW	ARK Next Generation	Pair Corr
0.92	WTMF	WisdomTree Managed	Pair Corr
0.93	EWC	iShares MSCI Canada	Pair Corr
0.91	IRET	iREIT MarketVector	Pair Corr
0.95	IXP	iShares Global Comm	Pair Corr
0.99	VGT	Vanguard Information	Pair Corr
0.95	MPRO	Northern Lights	Pair Corr
0.89	GBTC	Grayscale Bitcoin Trust	Pair Corr
0.98	SPGP	Invesco SP 500	Pair Corr
0.95	EWQ	iShares MSCI France	Pair Corr
0.77	GRW	TCW Compounders ETF	Pair Corr
0.98	SSDRF	SSgA SPDR ETFs	Pair Corr
0.99	FXR	First Trust Industri	Pair Corr

Moving against Global Etf

0.37

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Pair Corr

Related Correlations Analysis

	IFRA	CLOU	BUG	PEJ	ICLN
IFRA		0.8	0.7	0.98	0.96	IFRA
CLOU	0.8		0.74	0.79	0.81	CLOU
BUG	0.7	0.74		0.75	0.72	BUG
PEJ	0.98	0.79	0.75		0.95	PEJ
ICLN	0.96	0.81	0.72	0.95		ICLN
	IFRA	CLOU	BUG	PEJ	ICLN

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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
IFRA	0.62	0.09	0.01	0.36	0.52	(0.68)	1.56	(1.31)	3.90
CLOU	0.92	0.03	(0.01)	0.24	0.99	(0.98)	1.95	(2.21)	7.26
BUG	0.99	0.00	(0.06)	0.20	1.35	(1.01)	2.22	(2.26)	7.83
PEJ	0.81	0.16	0.14	0.40	0.47	(0.96)	2.48	(1.19)	6.33
ICLN	0.92	0.23	0.06	1.00	1.06	(1.03)	1.86	(1.56)	8.12

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