Global X Correlations
| EBIZ Etf | USD 23.61 0.02 0.08% |
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 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 E commerce moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Modest diversification
The correlation between Global X E commerce and NYA is 0.21 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Global X E commerce and NYA in the same portfolio, assuming nothing else is changed.
Global |
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 E commerce to buy it.
Moving together with Global Etf
| 0.69 | XHB | SPDR SP Homebuilders | PairCorr |
| 0.72 | BNKU | MicroSectors Big Banks | PairCorr |
| 0.67 | FNGU | MicroSectors FANG Index | PairCorr |
| 0.82 | SVIX | 1x Short VIX | PairCorr |
Related Correlations Analysis
| Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| PSCI | 0.83 | 0.00 | 0.01 | 0.03 | 0.98 | 1.65 | 4.52 | |||
| PSCC | 0.65 | (0.07) | 0.00 | (0.05) | 0.00 | 1.53 | 4.56 | |||
| PSCF | 0.88 | (0.01) | 0.00 | 0.02 | 1.30 | 1.60 | 6.97 | |||
| PSCM | 0.73 | 0.08 | 0.07 | 0.10 | 0.86 | 1.49 | 4.72 | |||
| PSCU | 0.78 | 0.02 | 0.00 | 0.11 | 0.99 | 1.60 | 4.96 |
Additional Information and Resources on Investing in Global Etf
When determining whether Global X E offers a strong return on investment in its stock, a comprehensive analysis is essential. The process typically begins with a thorough review of Global X's financial statements, including income statements, balance sheets, and cash flow statements, to assess its financial health. Key financial ratios are used to gauge profitability, efficiency, and growth potential of Global X E Commerce Etf. Outlined below are crucial reports that will aid in making a well-informed decision on Global X E Commerce Etf:Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Global X E commerce. Also, note that the market value of any etf could be tightly coupled with the direction of predictive economic indicators such as signals in gross domestic product. You can also try the Piotroski F Score module to get Piotroski F Score based on the binary analysis strategy of nine different fundamentals.
The market value of Global X E is measured differently than its book value, which is the value of Global that is recorded on the company's balance sheet. Investors also form their own opinion of Global X's value that differs from its market value or its book value, called intrinsic value, which is Global X's true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because Global X's market value can be influenced by many factors that don't directly affect Global X's underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between Global X's value and its price as these two are different measures arrived at by different means. Investors typically determine if Global X is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Global X's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.