Global X Gold Etf One Year Return
| HGY Etf | CAD 11.33 0.03 0.27% |
Global X Gold fundamentals help investors to digest information that contributes to Global X's financial success or failures. It also enables traders to predict the movement of Global Etf. The fundamental analysis module provides a way to measure Global X's intrinsic value by examining its available economic and financial indicators, including the cash flow records, the balance sheet account changes, the income statement patterns, and various microeconomic indicators and financial ratios related to Global X etf.
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Global X Gold ETF One Year Return Analysis
Global X's One Year Return is the annualized return generated from holding a security for exactly 12 months. The measure is considered to be good short-term measures of fund performance. In other words, it represents the capital appreciation of fund investments over the last year. However when the market is volatile such as in recent years, One Year Return measure can be misleading.
More About One Year Return | All Equity Analysis
One Year Return | = | (Mean of Monthly Returns - 1) | X | 100% |
Current Global X One Year Return | 24.00 % |
Most of Global X's fundamental indicators, such as One Year Return, are part of a valuation analysis module that helps investors searching for stocks that are currently trading at higher or lower prices than their real value. If the real value is higher than the market price, Global X Gold is considered to be undervalued, and we provide a buy recommendation. Otherwise, we render a sell signal.
Although One Year Fund Return indicator can give a sense of overall fund short-term potential, it is recommended to look at mid and long term return measure before selecting a particular fund or ETF. The great way to validate fund short-term performance is to compare it with other similar funds or ETFs for the same 12 months interval.
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Based on the recorded statements, Global X Gold has an One Year Return of 24.0%. This is much higher than that of the Horizons ETFs Management (Canada) Inc family and significantly higher than that of the Commodity category. The one year return for all Canada etfs is notably lower than that of the firm.
Global One Year Return Peer Comparison
Stock peer comparison is one of the most widely used and accepted methods of equity analyses. It analyses Global X's direct or indirect competition against its One Year Return to detect undervalued stocks with similar characteristics or determine the etfs which would be a good addition to a portfolio. Peer analysis of Global X could also be used in its relative valuation, which is a method of valuing Global X by comparing valuation metrics of similar companies.Global X is currently under evaluation in one year return as compared to similar ETFs.
Global Fundamentals
| Beta | 0.11 | |||
| Total Asset | 59.06 M | |||
| Annual Yield | 0.04 % | |||
| One Year Return | 24.00 % | |||
| Three Year Return | 9.90 % | |||
| Five Year Return | 9.10 % | |||
| Ten Year Return | 5.00 % | |||
| Net Asset | 59.06 M | |||
| Last Dividend Paid | 0.0176 | |||
| Holdings Turnover | 120.14 % |
About Global X Fundamental Analysis
The Macroaxis Fundamental Analysis modules help investors analyze Global X Gold's financials across various querterly and yearly statements, indicators and fundamental ratios. We help investors to determine the real value of Global X using virtually all public information available. We use both quantitative as well as qualitative analysis to arrive at the intrinsic value of Global X Gold based on its fundamental data. In general, a quantitative approach, as applied to this etf, focuses on analyzing financial statements comparatively, whereas a qaualitative method uses data that is important to a company's growth but cannot be measured and presented in a numerical way.
Please read more on our fundamental analysis page.
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
| 0.93 | SVR | iShares Silver Bullion | PairCorr |
| 0.99 | VALT | CI Gold Bullion | PairCorr |
| 1.0 | HUG | Global X Gold | PairCorr |
| 0.89 | HUZ | Global X Silver | PairCorr |
Moving against Global Etf
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.Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Global X Gold. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in board of governors. You can also try the Portfolio Analyzer module to portfolio analysis module that provides access to portfolio diagnostics and optimization engine.