Themes Cloud Correlations

CLOD Etf

26.47 1.12 4.06%

The current 90-days correlation between Themes Cloud Computing and USCF Sustainable Battery is 0.18 (i.e., Average diversification). The correlation of Themes Cloud 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 correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.

Themes Cloud Correlation With Market

Very good diversification

The correlation between Themes Cloud Computing and DJI is -0.49 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Themes Cloud Computing and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Themes Etf

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Themes Cloud Computing. 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.

Moving together with Themes Etf

0.62	VGT	Vanguard Information	Pair Corr
0.92	CIBR	First Trust NASDAQ	Pair Corr
0.61	FTEC	Fidelity MSCI Information	Pair Corr
0.95	IGV	iShares Expanded Tech	Pair Corr
0.9	FDN	First Trust Dow	Pair Corr
0.64	BULZ	MicroSectors Solactive	Pair Corr
0.85	FNGO	MicroSectors FANG Index	Pair Corr
0.83	GBTC	Grayscale Bitcoin Trust	Pair Corr

Moving against Themes Etf

0.79	RDIV	Invesco SP Ultra	Pair Corr
0.63	GGLL	Direxion Daily GOOGL Downward Rally	Pair Corr
0.59	NUGT	Direxion Daily Gold	Pair Corr
0.57	JNUG	Direxion Daily Junior	Pair Corr
0.55	SOXX	iShares Semiconductor ETF	Pair Corr
0.52	SMH	VanEck Semiconductor ETF	Pair Corr
0.39	AGQ	ProShares Ultra Silver	Pair Corr
0.89	JNJ	Johnson Johnson	Pair Corr
0.85	KO	Coca Cola Aggressive Push	Pair Corr
0.84	XOM	Exxon Mobil Corp Aggressive Push	Pair Corr
0.78	CVX	Chevron Corp	Pair Corr
0.75	PFE	Pfizer Inc Aggressive Push	Pair Corr
0.72	BINC	BlackRock ETF Trust	Pair Corr
0.72	DD	Dupont De Nemours Earnings Call This Week	Pair Corr
0.72	VZ	Verizon Communications Aggressive Push	Pair Corr
0.65	AHYB	American Century ETF	Pair Corr
0.64	INTC	Intel Aggressive Push	Pair Corr
0.63	MCD	McDonalds Earnings Call This Week	Pair Corr
0.6	CSCO	Cisco Systems Earnings Call This Week	Pair Corr
0.55	BA	Boeing	Pair Corr
0.44	T	ATT Inc Aggressive Push	Pair Corr
0.36	HD	Home Depot	Pair Corr
0.35	TRV	The Travelers Companies	Pair Corr

Related Correlations Analysis

	BULD	OOQB	HFMF	CZAR	GENW	CTEX	FCFY	QGRD	MAKX	ZSB
BULD		-0.16	0.92	0.71	0.81	0.88	0.43	0.47	0.9	0.88	BULD
OOQB	-0.16		-0.4	-0.13	-0.62	-0.03	-0.11	0.47	-0.08	-0.32	OOQB
HFMF	0.92	-0.4		0.71	0.93	0.83	0.42	0.3	0.83	0.92	HFMF
CZAR	0.71	-0.13	0.71		0.7	0.64	0.71	0.49	0.59	0.72	CZAR
GENW	0.81	-0.62	0.93	0.7		0.7	0.51	0.11	0.74	0.86	GENW
CTEX	0.88	-0.03	0.83	0.64	0.7		0.34	0.57	0.81	0.71	CTEX
FCFY	0.43	-0.11	0.42	0.71	0.51	0.34		0.21	0.47	0.5	FCFY
QGRD	0.47	0.47	0.3	0.49	0.11	0.57	0.21		0.36	0.17	QGRD
MAKX	0.9	-0.08	0.83	0.59	0.74	0.81	0.47	0.36		0.79	MAKX
ZSB	0.88	-0.32	0.92	0.72	0.86	0.71	0.5	0.17	0.79		ZSB
	BULD	OOQB	HFMF	CZAR	GENW	CTEX	FCFY	QGRD	MAKX	ZSB

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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

GENW	+ 0.93	HFMF
HFMF	+ 0.92	BULD
ZSB	+ 0.92	HFMF
MAKX	+ 0.9	BULD
CTEX	+ 0.88	BULD
ZSB	+ 0.88	BULD

High negative correlations

GENW	- 0.62	OOQB
HFMF	- 0.4	OOQB
ZSB	- 0.32	OOQB
OOQB	- 0.16	BULD
CZAR	- 0.13	OOQB
FCFY	- 0.11	OOQB

Themes Cloud Constituents Risk-Adjusted Indicators

There is a big difference between Themes Etf performing well and Themes Cloud 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 Themes Cloud'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
BULD	1.42	0.05	(0.03)	(0.21)	1.69	(1.51)	2.74	(2.94)	7.66
OOQB	3.10	(0.86)	0.00	(0.24)	0.00	0.00	5.60	(6.46)	24.18
HFMF	0.82	0.11	0.02	2.01	1.16	(0.81)	1.64	(1.94)	6.93
CZAR	0.62	0.02	(0.11)	(0.01)	0.72	(0.71)	1.13	(1.21)	4.75
GENW	0.60	0.23	0.18	(3.17)	0.45	(0.67)	1.27	(0.96)	2.97
CTEX	2.24	0.04	(0.01)	(0.62)	3.09	(2.04)	4.07	(5.18)	14.00
FCFY	0.84	(0.04)	(0.03)	0.04	1.07	(0.87)	1.88	(1.80)	5.76
QGRD	0.67	(0.08)	0.00	2.87	0.00	0.00	1.17	(1.76)	3.80
MAKX	1.27	(0.05)	(0.02)	0.04	1.62	(1.37)	2.43	(2.73)	9.37
ZSB	1.38	0.27	0.07	(0.78)	2.16	(1.44)	2.85	(3.08)	13.61

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