Global X Correlations

SHLD Etf

USD 43.64 3.66 7.74%

The current 90-days correlation between Global X Funds and Ultimus Managers Trust is 0.58 (i.e., Very weak 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 0.5 (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.

Check out World Market Map 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 bureau of economic analysis.

Moving together with Global Etf

0.86	BABX	GraniteShares 175x Long	Pair Corr
0.88	SHNY	Microsectors Gold	Pair Corr
0.87	GDXJ	VanEck Junior Gold	Pair Corr
0.92	EZU	iShares MSCI Eurozone	Pair Corr
0.9	MCHS	Matthews China Discovery	Pair Corr
0.85	INTF	iShares Edge MSCI	Pair Corr
0.7	VWO	Vanguard FTSE Emerging	Pair Corr
0.82	TLT	iShares 20 Year Aggressive Push	Pair Corr
0.81	VXUS	Vanguard Total Inter	Pair Corr
0.84	HDV	iShares Core High	Pair Corr
0.82	VEA	Vanguard FTSE Developed	Pair Corr
0.99	EUAD	Select STOXX Europe	Pair Corr
0.94	RODM	Hartford Multifactor	Pair Corr
0.95	UYLD	Angel Oak UltraShort	Pair Corr
0.94	XHLF	Bondbloxx ETF Trust	Pair Corr
0.8	GNT	GAMCO Natural Resources	Pair Corr
0.66	PPT	Putnam Premier Income	Pair Corr
0.92	SDFI	AB Active ETFs,	Pair Corr
0.93	SJCP	SanJac Alpha Core	Pair Corr
0.9	GLTR	abrdn Physical Precious	Pair Corr
0.73	ROAM	Hartford Multifactor	Pair Corr
0.8	ASET	FlexShares Real Assets	Pair Corr
0.86	GSIE	Goldman Sachs ActiveBeta	Pair Corr

Moving against Global Etf

0.78	VGT	Vanguard Information	Pair Corr
0.78	FTEC	Fidelity MSCI Information	Pair Corr
0.76	IYW	iShares Technology ETF	Pair Corr
0.74	XLK	Technology Select Sector	Pair Corr
0.73	SMH	VanEck Semiconductor ETF	Pair Corr
0.73	IGM	iShares Expanded Tech	Pair Corr
0.71	SOXX	iShares Semiconductor ETF	Pair Corr
0.71	ARKC	ARK 21Shares Active	Pair Corr
0.68	IGV	iShares Expanded Tech	Pair Corr
0.66	FDN	First Trust Dow	Pair Corr

Related Correlations Analysis

	MDST	MGNR	MISL	DPST	DRIP	DRLL	MLPX	MLPR	MLPA
MDST		0.62	0.61	0.21	-0.67	0.86	0.96	0.6	0.57	MDST
MGNR	0.62		0.74	0.77	-0.85	0.58	0.67	0.33	0.32	MGNR
MISL	0.61	0.74		0.59	-0.73	0.48	0.69	0.13	0.1	MISL
DPST	0.21	0.77	0.59		-0.7	0.2	0.3	0.06	0.06	DPST
DRIP	-0.67	-0.85	-0.73	-0.7		-0.7	-0.69	-0.16	-0.14	DRIP
DRLL	0.86	0.58	0.48	0.2	-0.7		0.88	0.67	0.64	DRLL
MLPX	0.96	0.67	0.69	0.3	-0.69	0.88		0.64	0.62	MLPX
MLPR	0.6	0.33	0.13	0.06	-0.16	0.67	0.64		0.99	MLPR
MLPA	0.57	0.32	0.1	0.06	-0.14	0.64	0.62	0.99		MLPA
	MDST	MGNR	MISL	DPST	DRIP	DRLL	MLPX	MLPR	MLPA

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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

MLPA	+ 0.99	MLPR
MLPX	+ 0.96	MDST
MLPX	+ 0.88	DRLL
DRLL	+ 0.86	MDST
DPST	+ 0.77	MGNR
MISL	+ 0.74	MGNR

High negative correlations

DRIP	- 0.85	MGNR
DRIP	- 0.73	MISL
DRLL	- 0.7	DRIP
DRIP	- 0.7	DPST
MLPX	- 0.69	DRIP
DRIP	- 0.67	MDST

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
MDST	0.98	0.05	0.00	(0.11)	0.00	0.00	1.56	(1.88)	4.92
MGNR	1.45	0.02	0.00	(0.15)	0.00	0.00	2.41	(4.63)	10.48
MISL	1.08	0.02	0.00	(0.15)	0.00	0.00	1.95	(1.64)	7.67
DPST	3.98	(0.24)	0.00	(0.22)	0.00	0.00	7.37	(10.48)	40.93
DRIP	3.03	0.09	0.24	(0.19)	2.60	(3.55)	6.92	(4.57)	17.00
DRLL	1.28	0.11	0.00	(0.07)	0.00	0.00	2.21	(2.92)	11.06
MLPX	1.21	0.11	0.00	(0.06)	0.00	0.00	1.84	(2.93)	7.27
MLPR	1.54	0.24	0.05	0.01	3.09	(1.35)	2.73	(2.75)	9.38
MLPA	0.90	0.15	0.11	0.03	1.59	(0.84)	1.71	(2.10)	5.90

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