Global X Correlations
| TTTX ETF | 27.41 0.22 0.81% |
Correlations tend to spike during dislocations, so the stock's calm-market pairing may not hold under stress. The current 90-days correlation between Global X Innovative and Accelerate Canadian Long is 0.27 (i.e., Moderate diversification).
Correlation to Market: Global X
Weak diversification
Global X currently posts a 0.59 correlation with Dow Jones, indicating a Weak diversification relationship for the active sample. Lower overlap tends to improve diversification, while higher overlap means both positions carry similar risk.
Global |
The correlation profile for Global X summarizes co-movement with comparable assets. The data is presented as reference information within a regulatory context.
Moving together with Global ETF
| 0.66 | XWD | iShares MSCI World | PairCorr |
| 0.89 | NSGE | NBI Sustainable Global | PairCorr |
| 0.71 | XSP | iShares Core SAMPP | PairCorr |
| 0.83 | ZSP | BMO SAMPP 500 | PairCorr |
| 0.82 | VFV | Vanguard SAMPP 500 | PairCorr |
Moving Against Global ETF
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
Evaluating Global ETF requires separating price momentum from underlying operating strength versus competitors. Peer-relative risk metrics add context on drawdown behavior, consistency, and return quality. These indicators are quantitative in nature and help investors evaluate volatility and risk-adjusted expected returns across different positions.| Mean Deviation | Jensen Alpha | Sortino Ratio | Treynor Ratio | Semi Deviation | Expected Shortfall | Potential Upside | Value @Risk | Maximum Drawdown | ||
|---|---|---|---|---|---|---|---|---|---|---|
| CFOD | 1.50 | -0.02 | 0.09 | -0.06 | 1.68 | 2.75 | 7.94 | |||
| ICAE | 0.63 | -0.03 | 0.00 | -0.16 | 0.00 | 1.23 | 6.55 | |||
| FDN | 1.04 | -0.21 | 0.00 | 0.80 | 0.00 | 1.69 | 5.86 | |||
| UMI | 0.72 | 0.01 | 0.09 | 0.00 | 0.81 | 2.02 | 3.85 | |||
| EBNK | 1.29 | -0.01 | 0.00 | -0.09 | 0.00 | 2.13 | 6.06 | |||
| NRGD | 2.15 | -1.12 | 0.00 | -6.28 | 0.00 | 2.44 | 13.84 | |||
| PHE | 0.45 | -0.06 | 0.00 | -39.64 | 0.00 | 0.73 | 2.63 | |||
| PRP | 0.23 | 0.01 | 0.26 | 0.23 | 0.28 | 0.45 | 1.28 | |||
| ATSX | 1.07 | 0.07 | 0.08 | -2.99 | 1.52 | 2.52 | 8.63 |
Be Your Own Money Manager
Optimization tools can help investors judge whether capital allocated to Global X Innovative is being used efficiently relative to other opportunities in the same equity universe. The better process compares expected return, volatility, and correlation before the position is increased or introduced.
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