Global X Correlations

Etfs . USA . 
Etf . Global X Cloud
CLOU Etf  USD 24.63  0.05  0.20%   
The current 90-days correlation between Global X Cloud and WisdomTree Cloud Computing is 0.94 (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. If the correlation is 0, the equities are not correlated; they are entirely random.

Global X Correlation With Market

Poor diversification

The correlation between Global X Cloud and DJI is 0.7 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Global X Cloud and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Global X Cloud. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in persons.

Moving together with Global Etf

  0.85VGT Vanguard InformationPairCorr
  0.76XLK Technology Select SectorPairCorr
  0.83IYW iShares Technology ETFPairCorr
  0.84CIBR First Trust NASDAQPairCorr
  0.85FTEC Fidelity MSCI InformationPairCorr
  0.98IGV iShares Expanded TechPairCorr
  0.96FDN First Trust DowPairCorr
  0.85IGM iShares Expanded TechPairCorr
  0.62SPAQ Horizon Kinetics SPACPairCorr
  0.81XOP SPDR SP OilPairCorr
  0.7FIG Simplify Macro StrategyPairCorr
  0.97IYC iShares Consumer DisPairCorr
  0.92VTI Vanguard Total StockPairCorr
  0.98VBK Vanguard Small CapPairCorr
  0.77T ATT Inc Fiscal Year End 22nd of January 2025 PairCorr
  0.67HPQ HP IncPairCorr
  0.91JPM JPMorgan Chase Sell-off TrendPairCorr
  0.93DIS Walt Disney Sell-off TrendPairCorr
  0.94AXP American Express Fiscal Year End 24th of January 2025 PairCorr
  0.66CAT Caterpillar Fiscal Year End 3rd of February 2025 PairCorr
  0.78TRV The Travelers Companies Fiscal Year End 17th of January 2025 PairCorr
  0.83AA Alcoa Corp Fiscal Year End 15th of January 2025 PairCorr
  0.94BAC Bank of America Aggressive PushPairCorr
  0.93WMT Walmart Aggressive PushPairCorr

Moving against Global Etf

  0.79AIVI WisdomTree InternationalPairCorr
  0.68WTRE WisdomTree New EconomyPairCorr
  0.52VPL Vanguard FTSE PacificPairCorr
  0.85JNJ Johnson Johnson Sell-off TrendPairCorr
  0.82MRK Merck Company Fiscal Year End 6th of February 2025 PairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

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.

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