Global X Correlations

Delisted . USA . 
Etf . Global X Psychedelic
HPSYDDelisted Etf  USD 5.70  0.00  0.00%   
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

Good diversification

The correlation between Global X Psychedelic and DJI is -0.07 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Global X Psychedelic 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. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in manufacturing.

Moving together with Global Pink Sheet

  0.62MRK Merck Company Fiscal Year End 6th of February 2025 PairCorr
  0.65KO Coca Cola Fiscal Year End 11th of February 2025 PairCorr

Moving against Global Pink Sheet

  0.69VO Vanguard Mid CapPairCorr
  0.68VB Vanguard Small CapPairCorr
  0.62DSJA DSJAPairCorr
  0.6VTV Vanguard Value IndexPairCorr
  0.59VTI Vanguard Total StockPairCorr
  0.57RSPY Tuttle Capital ManagementPairCorr
  0.56SPY SPDR SP 500PairCorr
  0.56IVV iShares Core SPPairCorr
  0.52MEME Roundhill InvestmentsPairCorr
  0.5VUG Vanguard Growth IndexPairCorr
  0.42ITDD iShares TrustPairCorr
  0.75DIS Walt DisneyPairCorr
  0.72JPM JPMorgan Chase Fiscal Year End 10th of January 2025 PairCorr
  0.7BAC Bank of America Fiscal Year End 10th of January 2025 PairCorr
  0.63AA Alcoa Corp Fiscal Year End 15th of January 2025 PairCorr
  0.61AXP American Express Fiscal Year End 24th of January 2025 PairCorr
  0.6CSCO Cisco SystemsPairCorr
  0.57WMT WalmartPairCorr
  0.57TRV The Travelers Companies Fiscal Year End 17th of January 2025 PairCorr
  0.43HD Home DepotPairCorr
  0.32PG Procter GamblePairCorr

Related Correlations Analysis

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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   
JPM
+ 0.89
CRM
CRM
+ 0.88
T
JPM
+ 0.85
T
CRM
+ 0.65
META
XOM
+ 0.6
UBER
MRK
+ 0.6
A
  
High negative correlations   
MRK
- 0.87
JPM
MRK
- 0.82
CRM
XOM
- 0.8
MSFT
MRK
- 0.75
T
CRM
- 0.72
UBER
T
- 0.71
UBER

Global X Competition Risk-Adjusted Indicators

There is a big difference between Global Pink Sheet performing well and Global X Company 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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
META  1.15  0.23  0.14  1.24  1.26 
(1.30)
 3.22 
(1.87)
 8.02 
MSFT  0.85  0.08  0.04 (0.34) 1.45 
(0.81)
 1.83 
(1.57)
 8.14 
UBER  1.73 (0.25) 0.00 (0.26) 0.00 
 0.00 
 2.67 
(5.35)
 20.41 
F  1.43 (0.17) 0.00 (0.11) 0.00 
 0.00 
 2.53 
(2.90)
 11.21 
T  0.97  0.06  0.04  0.45  1.16 
(1.05)
 1.93 
(1.99)
 7.95 
A  1.26 (0.06) 0.00 (0.11) 0.00 
 0.00 
 2.71 
(2.42)
 9.02 
CRM  1.50  0.49  0.31 (14.75) 1.11 
(1.75)
 3.59 
(1.93)
 13.87 
JPM  1.02  0.13  0.11  0.09  1.11 
(1.19)
 1.65 
(1.44)
 15.87 
MRK  0.92 (0.24) 0.00 (1.54) 0.00 
 0.00 
 1.72 
(2.17)
 5.17 
XOM  0.91 (0.06) 0.00 (0.33) 0.00 
 0.00 
 1.83 
(2.14)
 6.06 

Global X Related Equities

One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with Global X pink sheet to make a market-neutral strategy. Peer analysis of Global X could also be used in its relative valuation, which is a method of valuing Global X by comparing valuation metrics with similar companies.
 Risk & Return  Correlation

Still Interested in Global X Psychedelic?

Investing in delisted pink sheets can be risky, as the pink sheet is no longer traded on a public exchange and can therefore be difficult to sell. Delisting typically occurs when a company has failed to meet exchange requirements or has been acquired. Before investing, it's important to thoroughly research the company, including its financial health and prospects for the future, as well as the reasons for its delisting. Additionally, it may be difficult to find accurate and up-to-date information on the company and its stock.
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