Nicholas Global Correlations

GIAX Etf

19.67 0.07 0.35%

The current 90-days correlation between Nicholas Global Equity and Freedom Day Dividend is 0.74 (i.e., Poor diversification). The correlation of Nicholas Global 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.

Nicholas Global Correlation With Market

Poor diversification

The correlation between Nicholas Global Equity and DJI is 0.76 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Nicholas Global Equity and DJI in the same portfolio, assuming nothing else is changed.

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Nicholas Global Equity. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in nation.

Moving together with Nicholas Etf

0.96	JEPI	JPMorgan Equity Premium Sell-off Trend	Pair Corr
0.97	XYLD	Global X SP	Pair Corr
0.95	DIVO	Amplify CWP Enhanced	Pair Corr
0.94	RYLD	Global X Russell	Pair Corr
0.97	JEPQ	JPMorgan Nasdaq Equity Sell-off Trend	Pair Corr
0.98	NUSI	NEOS ETF Trust	Pair Corr
0.62	KNG	FT Cboe Vest	Pair Corr
0.84	SIXH	ETC 6 Meridian	Pair Corr
0.97	BUYW	Main Buywrite ETF	Pair Corr
0.73	NVDL	GraniteShares 15x Long Downward Rally	Pair Corr
0.73	NVDX	T Rex 2X	Pair Corr
0.74	NVDU	Direxion Daily NVDA	Pair Corr
0.65	USD	ProShares Ultra Semi	Pair Corr
0.94	FNGU	MicroSectors FANG Index	Pair Corr
0.95	WEBL	Direxion Daily Dow	Pair Corr
0.62	FBL	GraniteShares 15x Long	Pair Corr
0.87	BITX	Volatility Shares Trust	Pair Corr
0.86	WMT	Walmart Aggressive Push	Pair Corr
0.74	TRV	The Travelers Companies Fiscal Year End 17th of January 2025	Pair Corr
0.8	T	ATT Inc Fiscal Year End 22nd of January 2025	Pair Corr
0.88	AA	Alcoa Corp Fiscal Year End 15th of January 2025	Pair Corr
0.79	CAT	Caterpillar Fiscal Year End 3rd of February 2025	Pair Corr
0.85	DIS	Walt Disney	Pair Corr
0.93	CSCO	Cisco Systems	Pair Corr
0.89	BAC	Bank of America Fiscal Year End 10th of January 2025	Pair Corr
0.8	HD	Home Depot	Pair Corr

Moving against Nicholas Etf

0.6	WTID	UBS ETRACS	Pair Corr
0.84	JNJ	Johnson Johnson Fiscal Year End 28th of January 2025	Pair Corr
0.8	PFE	Pfizer Inc Fiscal Year End 4th of February 2025	Pair Corr
0.78	KO	Coca Cola Fiscal Year End 11th of February 2025	Pair Corr
0.33	BA	Boeing Buyout Trend	Pair Corr

Related Correlations Analysis

	MBOX	DIEM	MCHI	DIPS	DISO	DIVB	DIVD	DIVG	DIVI
MBOX		0.01	0.12	-0.54	0.76	0.86	-0.14	0.88	-0.4	MBOX
DIEM	0.01		0.89	-0.07	-0.25	0.08	0.53	-0.12	0.49	DIEM
MCHI	0.12	0.89		-0.35	0.01	0.3	0.14	0.1	0.11	MCHI
DIPS	-0.54	-0.07	-0.35		-0.68	-0.82	0.55	-0.73	0.73	DIPS
DISO	0.76	-0.25	0.01	-0.68		0.82	-0.63	0.87	-0.74	DISO
DIVB	0.86	0.08	0.3	-0.82	0.82		-0.34	0.95	-0.65	DIVB
DIVD	-0.14	0.53	0.14	0.55	-0.63	-0.34		-0.4	0.86	DIVD
DIVG	0.88	-0.12	0.1	-0.73	0.87	0.95	-0.4		-0.7	DIVG
DIVI	-0.4	0.49	0.11	0.73	-0.74	-0.65	0.86	-0.7		DIVI
	MBOX	DIEM	MCHI	DIPS	DISO	DIVB	DIVD	DIVG	DIVI

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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

DIVG	+ 0.95	DIVB
MCHI	+ 0.89	DIEM
DIVG	+ 0.88	MBOX
DIVG	+ 0.87	DISO
DIVB	+ 0.86	MBOX
DIVI	+ 0.86	DIVD

High negative correlations

DIVB	- 0.82	DIPS
DIVI	- 0.74	DISO
DIVG	- 0.73	DIPS
DIVI	- 0.7	DIVG
DISO	- 0.68	DIPS
DIVI	- 0.65	DIVB

Nicholas Global Constituents Risk-Adjusted Indicators

There is a big difference between Nicholas Etf performing well and Nicholas Global 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 Nicholas Global'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
MBOX	0.56	(0.04)	(0.09)	0.07	0.50	(0.71)	1.25	(0.99)	3.49
DIEM	0.84	0.05	(0.04)	0.35	0.99	(0.87)	2.24	(1.83)	7.08
MCHI	2.07	0.34	0.07	(3.29)	2.58	(2.20)	6.61	(4.52)	19.77
DIPS	1.47	(0.30)	0.00	0.54	0.00	0.00	2.04	(3.23)	8.29
DISO	0.79	0.24	0.20	0.58	0.48	(0.92)	1.60	(1.25)	5.96
DIVB	0.49	(0.01)	(0.07)	0.10	0.28	(0.65)	0.96	(0.74)	3.81
DIVD	0.46	(0.07)	0.00	(0.06)	0.00	0.00	0.95	(0.96)	2.20
DIVG	0.47	(0.03)	(0.13)	0.07	0.46	(0.50)	1.01	(0.86)	3.12
DIVI	0.60	(0.07)	0.00	(0.19)	0.00	0.00	1.34	(1.47)	3.95

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