Global X Correlations

GNOM Etf

USD 10.84 0.01 0.09%

The current 90-days correlation between Global X Genomics and iShares Genomics Immunology is 0.9 (i.e., Almost no diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Global X moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Global X Genomics moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Global X Correlation With Market

Very weak diversification

The correlation between Global X Genomics and DJI is 0.56 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Global X Genomics 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 Global X Genomics. 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

0.9	XLV	Health Care Select Sell-off Trend	Pair Corr
0.93	VHT	Vanguard Health Care	Pair Corr
0.92	IBB	iShares Biotechnology ETF	Pair Corr
0.72	XBI	SPDR SP Biotech	Pair Corr
0.88	IXJ	iShares Global Healthcare	Pair Corr
0.91	IYH	iShares Healthcare ETF	Pair Corr
0.93	FHLC	Fidelity MSCI Health	Pair Corr
0.8	ARKG	ARK Genomic Revolution Low Volatility	Pair Corr
0.78	IHF	iShares Healthcare	Pair Corr
0.83	MRK	Merck Company Fiscal Year End 6th of February 2025	Pair Corr
0.71	JNJ	Johnson Johnson Sell-off Trend	Pair Corr
0.78	PFE	Pfizer Inc Fiscal Year End 4th of February 2025	Pair Corr

Moving against Global Etf

0.75	MEME	Roundhill Investments	Pair Corr
0.72	DSJA	DSJA	Pair Corr
0.72	RSPY	Tuttle Capital Management	Pair Corr
0.39	IHI	iShares Medical Devices	Pair Corr
0.33	CAT	Caterpillar Fiscal Year End 3rd of February 2025	Pair Corr
0.7	DIS	Walt Disney Aggressive Push	Pair Corr
0.68	T	ATT Inc Fiscal Year End 22nd of January 2025	Pair Corr
0.67	CVX	Chevron Corp Fiscal Year End 7th of February 2025	Pair Corr
0.63	TRV	The Travelers Companies Fiscal Year End 17th of January 2025	Pair Corr
0.59	AA	Alcoa Corp Fiscal Year End 15th of January 2025	Pair Corr
0.51	HPQ	HP Inc	Pair Corr
0.5	AXP	American Express Fiscal Year End 24th of January 2025	Pair Corr
0.49	INTC	Intel Fiscal Year End 23rd of January 2025	Pair Corr
0.37	XOM	Exxon Mobil Corp Sell-off Trend	Pair Corr
0.36	HD	Home Depot	Pair Corr

Related Correlations Analysis

	IDNA	EBIZ	SNSR	FINX	EDOC
IDNA		-0.17	0.16	-0.26	0.3	IDNA
EBIZ	-0.17		0.74	0.71	0.79	EBIZ
SNSR	0.16	0.74		0.8	0.76	SNSR
FINX	-0.26	0.71	0.8		0.62	FINX
EDOC	0.3	0.79	0.76	0.62		EDOC
	IDNA	EBIZ	SNSR	FINX	EDOC

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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

FINX	+ 0.8	SNSR
EDOC	+ 0.79	EBIZ
EDOC	+ 0.76	SNSR
SNSR	+ 0.74	EBIZ
FINX	+ 0.71	EBIZ
EDOC	+ 0.62	FINX

High negative correlations

FINX	- 0.26	IDNA
EBIZ	- 0.17	IDNA

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
IDNA	0.88	(0.14)	0.00	(0.01)	0.00	0.00	1.74	(2.24)	6.20
EBIZ	0.95	0.18	0.13	0.35	0.82	(1.05)	2.31	(1.63)	5.76
SNSR	0.90	(0.08)	(0.04)	0.06	1.19	(0.90)	1.85	(1.84)	5.76
FINX	1.03	0.19	0.23	0.27	0.71	(1.30)	2.50	(1.60)	6.23
EDOC	1.31	0.05	0.03	0.18	1.53	(1.36)	2.41	(2.37)	6.73

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