Global X S&P 500 U.S. Market Leaders Top 50 ETF (FLAG) Correlation Distribution
Across 5,873 rolling correlation observations between Global X S&P 500 U.S. Market Leaders Top 50 ETF (FLAG) and other NASDAQ-listed stocks, 35.8% are positive and 64.2% are negative. The most common correlation range is -0.3 to -0.2, and the average pairwise correlation is -0.063, indicating a near-neutral relationship. Strong positive correlations (≥0.7) account for 13.6% and strong negative correlations (≤−0.7) for 6.7%.
- Total observations
- 5,873
- Mean correlation
- -0.063
- Most common range
- -0.3 to -0.2
- Positive pairs
- 35.8%
- Strong positive (≥0.7)
- 13.6%
Correlation distribution
| Correlation range | Pairs | Share | Chart |
|---|---|---|---|
| -1.0 to -0.9 | 22 | 0.4% | |
| -0.9 to -0.8 | 185 | 3.2% | |
| -0.8 to -0.7 | 184 | 3.1% | |
| -0.7 to -0.6 | 362 | 6.2% | |
| -0.6 to -0.5 | 361 | 6.1% | |
| -0.5 to -0.4 | 545 | 9.3% | |
| -0.4 to -0.3 | 544 | 9.3% | |
| -0.3 to -0.2 | 624 | 10.6% | |
| -0.2 to -0.1 | 623 | 10.6% | |
| -0.1 to 0.0 | 320 | 5.4% | |
| 0.0 to 0.1 | 319 | 5.4% | |
| 0.1 to 0.2 | 191 | 3.3% | |
| 0.2 to 0.3 | 190 | 3.2% | |
| 0.3 to 0.4 | 151 | 2.6% | |
| 0.4 to 0.5 | 151 | 2.6% | |
| 0.5 to 0.6 | 150 | 2.6% | |
| 0.6 to 0.7 | 150 | 2.6% | |
| 0.7 to 0.8 | 247 | 4.2% | |
| 0.8 to 0.9 | 247 | 4.2% | |
| 0.9 to 1.0 | 307 | 5.2% |
Frequently asked questions
What is the average correlation of FLAG?
Global X S&P 500 U.S. Market Leaders Top 50 ETF (FLAG) has an average correlation of about -0.063 with other NASDAQ stocks, based on 5,873 pairwise observations.
Is FLAG positively correlated with other stocks?
Not predominantly — 35.8% of pairs are positive and 64.2% are negative. Strong positive correlations (≥0.7) make up 13.6%.
What is the most common correlation range for FLAG?
The most common range is -0.3 to -0.2. Weak correlations (−0.3 to 0.3) account for 38.6% of all pairs.
Explore the full interactive correlation distribution for FLAG.
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