Robo Global Correlations

ROBO Etf

USD 63.44 0.23 0.36%

The current 90-days correlation between Robo Global Robotics and Global X Robotics is 0.93 (i.e., Almost no diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Robo Global moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Robo Global Robotics moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Robo Global Correlation With Market

Good diversification

The correlation between Robo Global Robotics and DJI is -0.11 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Robo Global Robotics and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Robo Etf

Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Robo Global Robotics. 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 labor statistics.

Moving together with Robo Etf

0.97	PBD	Invesco Global Clean	Pair Corr
0.82	PSP	Invesco Global Listed	Pair Corr
0.77	VRAI	Virtus Real Asset	Pair Corr
0.95	CTEC	Global X CleanTech	Pair Corr
0.86	TMAT	Main Thematic Innovation	Pair Corr
0.97	FORH	Formidable ETF	Pair Corr
0.95	SAGP	Advisorsa Inner	Pair Corr
0.85	SIXD	AIM ETF Products	Pair Corr
0.86	EMM	Global X Funds	Pair Corr
0.94	ERTH	Invesco MSCI Sustainable	Pair Corr
0.91	GEMD	Goldman Sachs ETF	Pair Corr
0.75	XLE	Energy Select Sector	Pair Corr
0.78	KWEB	KraneShares CSI China	Pair Corr
0.86	JHDV	John Hancock Exchange	Pair Corr
0.98	DIVO	Amplify CWP Enhanced	Pair Corr
0.89	HDV	iShares Core High	Pair Corr
0.91	EFG	iShares MSCI EAFE	Pair Corr
0.97	DARP	Tidal Trust II	Pair Corr
0.91	ESGS	Columbia Sustainable	Pair Corr
0.91	XV	Simplify Exchange Traded	Pair Corr
0.91	WCMI	First Trust Exchange	Pair Corr
0.93	GPRF	Goldman Sachs Access	Pair Corr
0.95	KEMQ	KraneShares Emerging	Pair Corr
0.71	DFCF	Dimensional ETF Trust	Pair Corr

Moving against Robo Etf

0.97	VXX	iPath Series B	Pair Corr
0.73	YCL	ProShares Ultra Yen	Pair Corr
0.58	VIXY	ProShares VIX Short	Pair Corr

Related Correlations Analysis

	BOTZ	HACK	ROBT	SKYY
BOTZ		0.89	0.98	0.96	BOTZ
HACK	0.89		0.9	0.96	HACK
ROBT	0.98	0.9		0.96	ROBT
SKYY	0.96	0.96	0.96		SKYY
	BOTZ	HACK	ROBT	SKYY

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Robo Global Constituents Risk-Adjusted Indicators

There is a big difference between Robo Etf performing well and Robo Global 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 Robo Global'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
BOTZ	0.93	0.33	0.10	(1.60)	0.65	(1.15)	2.35	(1.60)	6.26
HACK	0.77	0.29	0.04	(1.18)	0.83	(0.87)	1.64	(1.57)	6.80
ROBT	0.88	0.11	0.14	0.30	0.64	(1.07)	2.44	(1.34)	6.01
SKYY	0.88	0.30	0.09	(3.99)	0.60	(1.04)	2.03	(1.66)	6.97

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