Global X Correlations

Summary

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 NASDAQ 100 moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

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 NASDAQ 100 to buy it.

Moving together with Global Etf

0.76	XSP	iShares Core SP	Pair Corr
0.69	ZAG	BMO Aggregate Bond	Pair Corr
0.81	ZSP	BMO SP 500	Pair Corr
0.81	VFV	Vanguard SP 500	Pair Corr

Moving against Global Etf

0.81	HQD	BetaPro NASDAQ 100	Pair Corr
0.7	HIU	BetaPro SP 500	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.58	0.64	0.37	-0.1	0.04	0.33	-0.1	-0.33	-0.03	META
MSFT	0.58		0.15	0.09	0.4	0.36	0.08	0.42	0.08	-0.22	MSFT
UBER	0.64	0.15		0.48	-0.44	0.14	0.7	-0.37	-0.52	-0.23	UBER
F	0.37	0.09	0.48		-0.15	0.14	0.49	0.23	0.2	0.46	F
T	-0.1	0.4	-0.44	-0.15		-0.12	-0.55	0.71	0.45	-0.3	T
A	0.04	0.36	0.14	0.14	-0.12		0.69	0.32	-0.01	-0.01	A
CRM	0.33	0.08	0.7	0.49	-0.55	0.69		-0.16	-0.34	0.05	CRM
JPM	-0.1	0.42	-0.37	0.23	0.71	0.32	-0.16		0.5	0.07	JPM
MRK	-0.33	0.08	-0.52	0.2	0.45	-0.01	-0.34	0.5		0.39	MRK
XOM	-0.03	-0.22	-0.23	0.46	-0.3	-0.01	0.05	0.07	0.39		XOM
	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM

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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	+ 0.71	T
CRM	+ 0.7	UBER
CRM	+ 0.69	A
UBER	+ 0.64	META
MSFT	+ 0.58	META
MRK	+ 0.5	JPM

High negative correlations

CRM	- 0.55	T
MRK	- 0.52	UBER
T	- 0.44	UBER
JPM	- 0.37	UBER
MRK	- 0.34	CRM
MRK	- 0.33	META

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 Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
META	1.40	0.09	0.04	0.10	2.32	(1.45)	3.04	(2.28)	13.90
MSFT	0.96	0.13	0.10	0.16	1.19	(1.02)	1.94	(2.07)	6.04
UBER	1.59	(0.08)	0.00	(0.07)	0.00	0.00	2.99	(2.87)	9.02
F	1.37	0.02	0.01	0.01	1.90	(1.45)	3.06	(3.59)	10.93
T	0.82	0.04	0.04	0.08	0.86	(0.90)	1.89	(1.37)	4.73
A	1.25	(0.15)	0.00	(0.11)	0.00	0.00	2.07	(2.20)	13.61
CRM	1.47	(0.36)	0.00	(0.30)	0.00	0.00	2.63	(2.96)	23.62
JPM	0.99	0.03	0.02	0.03	1.65	(1.01)	1.94	(1.78)	8.41
MRK	0.71	0.09	0.11	0.18	0.70	(0.83)	2.29	(1.22)	7.59
XOM	0.84	0.03	0.03	0.05	1.03	(0.88)	1.77	(1.89)	5.27

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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.

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