Global X Correlations

Etfs . USA . 
Etf . Global X Dow
DJIA Etf  USD 23.60  0.03  0.13%   
The current 90-days correlation between Global X Dow and Global X SP is 0.67 (i.e., Poor 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

Very poor diversification

The correlation between Global X Dow and DJI is 0.81 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Global X Dow and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Global X Dow. 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

  0.95JEPI JPMorgan Equity PremiumPairCorr
  0.96XYLD Global X SPPairCorr
  0.96DIVO Amplify CWP EnhancedPairCorr
  0.94RYLD Global X RussellPairCorr
  0.92JEPQ JPMorgan Nasdaq EquityPairCorr
  0.91NUSI NEOS ETF TrustPairCorr
  0.67KNG FT Cboe VestPairCorr
  0.85SIXH ETC 6 MeridianPairCorr
  0.83BUYW Main Buywrite ETFPairCorr
  0.72NVDL GraniteShares 15x LongPairCorr
  0.72NVDX T Rex 2XPairCorr
  0.72NVDU Direxion Daily NVDAPairCorr
  0.91CRPT First Trust SkyBridgePairCorr
  0.88BITX Volatility Shares TrustPairCorr
  0.85CONL GraniteShares ETF TrustPairCorr
  0.89DAPP VanEck Digital TransPairCorr
  0.89DPST Direxion Daily RegionalPairCorr
  0.87WGMI Valkyrie Bitcoin MinersPairCorr
  0.64XOM Exxon Mobil Corp Fiscal Year End 7th of February 2025 PairCorr
  0.88CSCO Cisco Systems Sell-off TrendPairCorr
  0.77CAT Caterpillar Fiscal Year End 3rd of February 2025 PairCorr
  0.96AXP American Express Fiscal Year End 24th of January 2025 PairCorr
  0.84INTC Intel Fiscal Year End 23rd of January 2025 PairCorr
  0.77T ATT Inc Fiscal Year End 22nd of January 2025 PairCorr
  0.7HPQ HP IncPairCorr
  0.89BAC Bank of America Aggressive PushPairCorr
  0.91CVX Chevron Corp Sell-off TrendPairCorr
  0.89DIS Walt Disney Sell-off TrendPairCorr

Moving against Global Etf

  0.81JNJ Johnson Johnson Sell-off TrendPairCorr
  0.74KO Coca Cola Aggressive PushPairCorr
  0.73PFE Pfizer Inc Aggressive PushPairCorr
  0.69BA Boeing Fiscal Year End 29th of January 2025 PairCorr

Related Correlations Analysis

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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.

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