# Global X Gold Etf Market Value

GLCC Etf | 28.17 0.22 0.77% |

**28.17**as of the 5th of October 2024; that is

**0.77 percent decrease**since the beginning of the trading day. The etf's open price was

**28.39**. With this module, you can estimate the performance of a buy and hold strategy of Global X Gold and determine expected loss or profit from investing in Global X over a given investment horizon. Check out Global X Correlation, Global X Volatility and Global X Alpha and Beta module to complement your research on Global X.

Symbol | Global |

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.

## Global X 'What if' Analysis

In the world of financial modeling, what-if analysis is part of sensitivity analysis performed to test how changes in assumptions impact individual outputs in a model. When applied to Global X's etf what-if analysis refers to the analyzing how the change in your past investing horizon will affect the profitability against the current market value of Global X.

11/15/2022 |
| 10/05/2024 |

If you would invest

**0.00**in Global X on**November 15, 2022**and sell it all today you would**earn a total of 0.00**from holding Global X Gold or generate**0.0%**return on investment in Global X over**690**days. Global X is related to or competes with Global X, Real Estate, and Global Dividend. Global X is entity of Canada. It is traded as Etf on TO exchange. More## Global X Upside/Downside Indicators

Understanding different market momentum indicators often help investors to time their next move. Potential upside and downside technical ratios enable traders to measure Global X's etf current market value against overall market sentiment and can be a good tool during both bulling and bearish trends. Here we outline some of the essential indicators to assess Global X Gold upside and downside potential and time the market with a certain degree of confidence.

Downside Deviation | 1.6 | |||

Information Ratio | 0.0289 | |||

Maximum Drawdown | 7.69 | |||

Value At Risk | (2.50) | |||

Potential Upside | 2.86 |

## Global X Market Risk Indicators

Today, many novice investors tend to focus exclusively on investment returns with little concern for Global X's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Global X's standard deviation. In reality, there are many statistical measures that can use Global X historical prices to predict the future Global X's volatility.Risk Adjusted Performance | 0.0853 | |||

Jensen Alpha | 0.0989 | |||

Total Risk Alpha | (0.06) | |||

Sortino Ratio | 0.0301 | |||

Treynor Ratio | 0.2949 |

Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Global X's price to converge to an average value over time is called mean reversion. However, historically, high market prices usually discourage investors that believe in mean reversion to invest, while low prices are viewed as an opportunity to buy.

## Global X Gold Backtested Returns

As of now, Global Etf is very steady. Global X Gold holds Efficiency (Sharpe) Ratio of 0.0786, which attests that the entity had a 0.0786% return per unit of risk over the last 3 months. We have found twenty-nine technical indicators for Global X Gold, which you can use to evaluate the volatility of the entity. Please check out Global X's Risk Adjusted Performance of 0.0853, market risk adjusted performance of 0.3049, and Downside Deviation of 1.6 to validate if the risk estimate we provide is consistent with the expected return of 0.13%. The etf retains a Market Volatility (i.e., Beta) of

**0.52**, which attests to possible diversification benefits within a given portfolio. As returns on the market increase, Global X's returns are expected to increase less than the market. However, during the bear market, the loss of holding Global X is expected to be smaller as well.## Auto-correlation | -0.13 |

### Insignificant reverse predictability

Global X Gold has insignificant reverse predictability. Overlapping area represents the amount of predictability between Global X time series from 15th of November 2022 to 26th of October 2023 and 26th of October 2023 to 5th of October 2024. The more autocorrelation exist between current time interval and its lagged values, the more accurately you can make projection about the future pattern of Global X Gold price movement. The serial correlation of

**-0.13**indicates that less than 13.0% of current Global X price fluctuation can be explain by its past prices.Correlation Coefficient | -0.13 | |

Spearman Rank Test | -0.11 | |

Residual Average | 0.0 | |

Price Variance | 9.55 |

## Global X Gold lagged returns against current returns

Autocorrelation, which is Global X etf's lagged correlation, explains the relationship between observations of its time series of returns over different periods of time. The observations are said to be independent if autocorrelation is zero. Autocorrelation is calculated as a function of mean and variance and can have practical application in predicting Global X's etf expected returns. We can calculate the autocorrelation of Global X returns to help us make a trade decision. For example, suppose you find that Global X has exhibited high autocorrelation historically, and you observe that the etf is moving up for the past few days. In that case, you can expect the price movement to match the lagging time series.

Current and Lagged Values |

Timeline |

## Global X regressed lagged prices vs. current prices

Serial correlation can be approximated by using the Durbin-Watson (DW) test. The correlation can be either positive or negative. If Global X etf is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Global X etf is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Global X etf over time.

Current vs Lagged Prices |

Timeline |

## Global X Lagged Returns

When evaluating Global X's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Global X etf have on its future price. Global X autocorrelation represents the degree of similarity between a given time horizon and a lagged version of the same horizon over the previous time interval. In other words, Global X autocorrelation shows the relationship between Global X etf current value and its past values and can show if there is a momentum factor associated with investing in Global X Gold.

Regressed Prices |

Timeline |

## Pair Trading with Global X

One of the main advantages of trading using pair correlations is that every trade hedges away some risk. Because there are two separate transactions required, even if Global X position performs unexpectedly, the other equity can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Global X will appreciate offsetting losses from the drop in the long position's value.### Moving together with Global Etf

0.81 | XIU | iShares SPTSX 60 | PairCorr |

0.73 | XSP | iShares Core SP | PairCorr |

0.84 | XIC | iShares Core SPTSX | PairCorr |

0.61 | ZAG | BMO Aggregate Bond | PairCorr |

0.61 | XBB | iShares Canadian Universe | PairCorr |

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 Gold to buy it.

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 Gold 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.

Correlation analysis and pair trading evaluation for Global X can also be used as hedging techniques within a particular sector or industry or even over random equities to generate a better risk-adjusted return on your portfolios.## Additional Information and Resources on Investing in Global Etf

When determining whether Global X Gold 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 Gold Etf.**Outlined below are crucial reports that will aid in making a well-informed decision on Global X Gold Etf:**

Check out Global X Correlation, Global X Volatility and Global X Alpha and Beta module to complement your research on Global X. You can also try the Competition Analyzer module to analyze and compare many basic indicators for a group of related or unrelated entities.

Global X technical etf analysis exercises models and trading practices based on price and volume transformations, such as the moving averages, relative strength index, regressions, price and return correlations, business cycles, etf market cycles, or different charting patterns.