Global X Correlations

XYLD Etf

USD 37.54 0.56 1.51%

The current 90-days correlation between Global X SP and Global X Funds is 0.95 (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.

Global X Correlation With Market

Almost no diversification

The correlation between Global X SP and DJI is 0.94 (i.e., Almost no diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Global X SP and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Global Etf

Check out Your Current Watchlist to better understand how to build diversified portfolios, which includes a position in Global X SP. 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

0.95	JEPI	JPMorgan Equity Premium	Pair Corr
0.97	DIVO	Amplify CWP Enhanced	Pair Corr
0.93	RYLD	Global X Russell	Pair Corr
0.99	JEPQ	JPMorgan Nasdaq Equity	Pair Corr
0.64	KNG	FT Cboe Vest	Pair Corr
0.82	BUYW	Main Buywrite ETF	Pair Corr
0.85	ITDD	iShares Trust	Pair Corr
0.87	WGMI	Valkyrie Bitcoin Miners Buyout Trend	Pair Corr
0.77	DD	Dupont De Nemours	Pair Corr
0.89	HD	Home Depot	Pair Corr
0.77	PFE	Pfizer Inc Earnings Call This Week	Pair Corr
0.95	AXP	American Express	Pair Corr
0.95	HPQ	HP Inc	Pair Corr
0.85	MSFT	Microsoft Earnings Call This Week	Pair Corr
0.88	AA	Alcoa Corp	Pair Corr
0.96	BAC	Bank of America Aggressive Push	Pair Corr
0.73	MMM	3M Company	Pair Corr

Moving against Global Etf

0.85	ULE	ProShares Ultra Euro	Pair Corr
0.73	NUSI	NEOS ETF Trust Symbol Change	Pair Corr
0.68	PMBS	PIMCO Mortgage Backed	Pair Corr
0.58	KO	Coca Cola Earnings Call This Week	Pair Corr
0.45	MCD	McDonalds	Pair Corr
0.61	VZ	Verizon Communications	Pair Corr
0.61	T	ATT Inc Earnings Call Today	Pair Corr

Related Correlations Analysis

	TYLG	XYLG	RYLG	QYLG
TYLG		0.92	0.98	0.94	TYLG
XYLG	0.92		0.93	0.99	XYLG
RYLG	0.98	0.93		0.94	RYLG
QYLG	0.94	0.99	0.94		QYLG
	TYLG	XYLG	RYLG	QYLG

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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	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
TYLG	1.64	(0.02)	(0.16)	2.02	(4.30)	17.76
XYLG	1.07	(0.20)	1.27	1.43	(2.90)	12.83
RYLG	1.22	(0.07)	(0.21)	1.59	(3.59)	13.13
QYLG	1.27	(0.24)	1.66	1.59	(3.41)	14.22

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