Global X Correlations

LIT Etf

USD 63.77 0.08 0.13%

The current 90-days correlation between Global X Lithium and Goldman Sachs ActiveBeta is -0.03 (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

Good diversification

The correlation between Global X Lithium and DJI is -0.09 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Global X Lithium and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Global Etf

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Global X Lithium. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in gross domestic product.

Moving together with Global Etf

0.79	XME	SPDR SP Metals	Pair Corr
0.78	URNM	Sprott Uranium Miners	Pair Corr
0.9	VTI	Vanguard Total Stock	Pair Corr
0.91	SPY	SPDR SP 500	Pair Corr
0.91	IVV	iShares Core SP	Pair Corr
0.79	BND	Vanguard Total Bond	Pair Corr
0.84	VTV	Vanguard Value Index	Pair Corr
0.89	VUG	Vanguard Growth Index	Pair Corr
0.88	VEA	Vanguard FTSE Developed	Pair Corr
0.76	BAC	Bank of America	Pair Corr
0.96	IBM	International Business	Pair Corr
0.78	CSCO	Cisco Systems Sell-off Trend	Pair Corr
0.91	GE	GE Aerospace	Pair Corr
0.84	AA	Alcoa Corp	Pair Corr
0.84	JNJ	Johnson Johnson	Pair Corr
0.69	DD	Dupont De Nemours	Pair Corr

Moving against Global Etf

0.73	XLB	Materials Select Sector	Pair Corr
0.7	VAW	Vanguard Materials Index	Pair Corr
0.69	MOO	VanEck Agribusiness ETF	Pair Corr
0.54	EV	NEOS Investment Mana	Pair Corr
0.32	IYM	iShares Basic Materials	Pair Corr
0.88	T	ATT Inc Aggressive Push	Pair Corr
0.85	PG	Procter Gamble	Pair Corr
0.82	VZ	Verizon Communications Sell-off Trend	Pair Corr
0.82	DIS	Walt Disney Sell-off Trend	Pair Corr
0.76	HD	Home Depot Earnings Call Today	Pair Corr
0.4	CVX	Chevron Corp	Pair Corr

Related Correlations Analysis

	GLOV	BUG	SCHY	GSUS	LCTU	PWB	ARKF	DRSK	DFAR	FDLO
GLOV		0.27	0.37	0.72	0.64	0.59	0.27	0.58	0.49	0.9	GLOV
BUG	0.27		-0.42	0.39	0.31	0.37	0.77	0.45	0.23	0.39	BUG
SCHY	0.37	-0.42		0.32	0.37	0.5	-0.45	0.27	0.12	0.28	SCHY
GSUS	0.72	0.39	0.32		0.91	0.94	0.28	0.88	0.13	0.9	GSUS
LCTU	0.64	0.31	0.37	0.91		0.88	0.31	0.79	0.2	0.81	LCTU
PWB	0.59	0.37	0.5	0.94	0.88		0.25	0.89	0.06	0.77	PWB
ARKF	0.27	0.77	-0.45	0.28	0.31	0.25		0.36	0.37	0.31	ARKF
DRSK	0.58	0.45	0.27	0.88	0.79	0.89	0.36		0.1	0.72	DRSK
DFAR	0.49	0.23	0.12	0.13	0.2	0.06	0.37	0.1		0.32	DFAR
FDLO	0.9	0.39	0.28	0.9	0.81	0.77	0.31	0.72	0.32		FDLO
	GLOV	BUG	SCHY	GSUS	LCTU	PWB	ARKF	DRSK	DFAR	FDLO

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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

PWB	+ 0.94	GSUS
LCTU	+ 0.91	GSUS
FDLO	+ 0.9	GLOV
FDLO	+ 0.9	GSUS
DRSK	+ 0.89	PWB
DRSK	+ 0.88	GSUS

High negative correlations

ARKF	- 0.45	SCHY
SCHY	- 0.42	BUG

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
GLOV	0.36	(0.02)	(0.08)	0.01	0.45	(0.39)	0.81	(0.73)	2.41
BUG	1.13	(0.01)	0.00	0.21	0.00	0.00	2.08	(2.66)	8.55
SCHY	0.43	0.04	0.01	0.14	0.41	(0.48)	0.85	(0.70)	2.38
GSUS	0.53	0.00	0.00	0.05	0.78	(0.50)	1.22	(1.14)	4.24
LCTU	0.53	0.07	0.02	(0.73)	0.74	(0.52)	1.30	(1.12)	4.16
PWB	0.74	0.07	0.02	(0.45)	1.03	(0.76)	1.45	(1.92)	4.73
ARKF	1.50	(0.12)	0.00	0.94	0.00	0.00	2.72	(4.48)	9.85
DRSK	0.45	(0.01)	(0.06)	0.03	0.52	(0.49)	1.09	(0.78)	3.53
DFAR	0.61	(0.03)	(0.06)	(0.01)	0.80	(0.64)	1.49	(1.23)	3.92
FDLO	0.36	0.00	(0.03)	0.04	0.46	(0.39)	0.92	(0.65)	2.78

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