Global X Correlations
| DMAT Etf | USD 29.54 0.72 2.38% |
The current 90-days correlation between Global X Disruptive and ProShares MSCI Transformational is -0.13 (i.e., Good 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. If the correlation is 0, the equities are not correlated; they are entirely random.
Global X Correlation With Market
Very weak diversification
The correlation between Global X Disruptive and DJI is 0.48 (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 Disruptive and DJI in the same portfolio, assuming nothing else is changed.
Moving together with Global Etf
| 0.9 | XLB | Materials Select Sector | PairCorr |
| 0.91 | VAW | Vanguard Materials Index | PairCorr |
| 0.85 | XME | SPDR SP Metals Sell-off Trend | PairCorr |
| 0.8 | MOO | VanEck Agribusiness ETF | PairCorr |
| 0.93 | FXZ | First Trust Materials | PairCorr |
| 0.94 | IYM | iShares Basic Materials | PairCorr |
| 0.79 | AMPD | Tidal ETF Services | PairCorr |
| 0.65 | ITWO | Proshares Russell 2000 | PairCorr |
| 0.92 | AA | Alcoa Corp | PairCorr |
| 0.65 | WMT | Walmart Common Stock | PairCorr |
| 0.61 | BA | Boeing | PairCorr |
| 0.68 | BAC | Bank of America Earnings Call This Week | PairCorr |
Moving against Global Etf
| 0.74 | EV | NEOS Investment Mana | PairCorr |
| 0.5 | MPAY | Exchange Traded Concepts | PairCorr |
| 0.39 | ELON | Battleshares TSLA | PairCorr |
| 0.39 | HD | Home Depot | PairCorr |
| 0.57 | HPQ | HP Inc | PairCorr |
| 0.48 | T | ATT Inc | PairCorr |
| 0.46 | MSFT | Microsoft | PairCorr |
Related Correlations Analysis
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
| High negative correlations
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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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| ANEW | 0.64 | (0.05) | 0.00 | (0.26) | 0.00 | 1.33 | 3.55 | |||
| RITA | 0.52 | (0.04) | 0.00 | (0.14) | 0.00 | 0.92 | 3.24 | |||
| OCFS | 0.53 | 0.03 | (0.05) | 0.29 | 0.56 | 1.34 | 2.95 | |||
| MNRS | 4.04 | (0.59) | 0.00 | (0.12) | 0.00 | 8.29 | 23.19 | |||
| BNGE | 0.81 | (0.19) | 0.00 | (0.13) | 0.00 | 1.45 | 5.29 | |||
| DIVG | 0.57 | (0.04) | (0.07) | 0.02 | 0.73 | 1.19 | 3.24 | |||
| PWER | 1.05 | 0.04 | 0.04 | 0.10 | 1.34 | 2.21 | 5.99 | |||
| PQAP | 0.19 | 0.01 | (0.17) | 0.12 | 0.12 | 0.43 | 1.18 | |||
| DAT | 1.19 | (0.17) | 0.00 | (0.10) | 0.00 | 2.07 | 5.74 | |||
| BNKD | 2.56 | (0.37) | 0.00 | 0.17 | 0.00 | 6.38 | 15.74 |