Global X Correlations

HUC Etf  CAD 21.15  0.19  0.89%   
The current 90-days correlation between Global X Crude and Global X Active is -0.09 (i.e., Good 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 Crude moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Global X Correlation With Market

Significant diversification

The correlation between Global X Crude and DJI is 0.01 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Global X Crude and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to Global X could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Global X when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Global X - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Global X Crude to buy it.

Moving against Global Etf

  0.55TCLB TD Canadian LongPairCorr
  0.53ZAG BMO Aggregate BondPairCorr
  0.5XBB iShares Canadian UniversePairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

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   
JPMCRM
CRMT
XOMMETA
JPMT
JPMF
CRMMETA
  
High negative correlations   
MRKCRM
MRKJPM
MRKT
JPMA
XOMMRK
MRKMETA

Global X Competition 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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
META  1.16  0.19  0.09  0.40  1.36 
 3.22 
 8.02 
MSFT  0.91 (0.02)(0.03) 0.07  1.47 
 2.09 
 8.19 
UBER  1.65 (0.12) 0.00 (0.02) 0.00 
 2.69 
 20.10 
F  1.44 (0.18) 0.00 (0.01) 0.00 
 2.53 
 11.21 
T  1.00  0.29  0.16 (7.31) 0.90 
 2.65 
 6.59 
A  1.17 (0.08) 0.00 (0.07) 0.00 
 2.71 
 9.02 
CRM  1.27  0.30  0.22  0.36  1.01 
 3.18 
 9.98 
JPM  1.13 (0.05) 0.03  0.08  1.42 
 2.05 
 15.87 
MRK  0.93 (0.24) 0.00 (0.97) 0.00 
 2.00 
 4.89 
XOM  0.98 (0.04)(0.07) 0.02  1.32 
 2.10 
 5.74 

Be your own money manager

Our tools can tell you how much better you can do entering a position in Global X without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

Did you try this?

Run Crypto Correlations Now

   

Crypto Correlations

Use cryptocurrency correlation module to diversify your cryptocurrency portfolio across multiple coins
All  Next Launch Module