Themes Correlations

FINE Etf

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The current 90-days correlation between Themes and Litman Gregory Funds is -0.1 (i.e., Good diversification). The correlation of Themes 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 Correlation With Market

Very good diversification

The correlation between Themes and DJI is -0.48 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Themes and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Themes Etf

Check out Investing Opportunities to better understand how to build diversified portfolios. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in inflation.

Moving together with Themes Etf

0.76

RCD

Ready Capital

Pair Corr

Moving against Themes Etf

0.63	PEJ	Invesco Dynamic Leisure	Pair Corr
0.52	CPST	Calamos ETF Trust	Pair Corr
0.46	FXD	First Trust Consumer	Pair Corr
0.39	XRT	SPDR SP Retail	Pair Corr
0.33	IYC	iShares Consumer Dis	Pair Corr
0.32	VCR	Vanguard Consumer	Pair Corr
0.32	FDIS	Fidelity MSCI Consumer	Pair Corr
0.31	XLY	Consumer Discretionary Sell-off Trend	Pair Corr
0.31	NTSI	WisdomTree International	Pair Corr
0.56	UAUG	Innovator Equity Ultra	Pair Corr
0.5	QTAP	Innovator Growth 100	Pair Corr
0.46	AHYB	American Century ETF	Pair Corr
0.33	VLU	SPDR SP 1500	Pair Corr
0.33	DWM	WisdomTree International	Pair Corr
0.33	IJK	iShares SP Mid	Pair Corr
0.46	SMB	VanEck Short Muni	Pair Corr
0.39	PFXF	VanEck Preferred Sec	Pair Corr
0.38	ILOW	AB Active ETFs	Pair Corr
0.34	ETHO	Amplify Etho Climate	Pair Corr
0.31	FNX	First Trust Mid	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		-0.12	-0.14	0.13	0.12	-0.31	-0.04	0.23	0.08	0.21	META
MSFT	-0.12		0.84	-0.65	-0.86	0.8	0.93	0.33	-0.91	-0.94	MSFT
UBER	-0.14	0.84		-0.57	-0.77	0.85	0.75	0.19	-0.81	-0.83	UBER
F	0.13	-0.65	-0.57		0.41	-0.59	-0.51	-0.05	0.75	0.7	F
T	0.12	-0.86	-0.77	0.41		-0.65	-0.84	-0.29	0.75	0.76	T
A	-0.31	0.8	0.85	-0.59	-0.65		0.67	0.2	-0.75	-0.84	A
CRM	-0.04	0.93	0.75	-0.51	-0.84	0.67		0.53	-0.82	-0.9	CRM
JPM	0.23	0.33	0.19	-0.05	-0.29	0.2	0.53		-0.13	-0.32	JPM
MRK	0.08	-0.91	-0.81	0.75	0.75	-0.75	-0.82	-0.13		0.92	MRK
XOM	0.21	-0.94	-0.83	0.7	0.76	-0.84	-0.9	-0.32	0.92		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

CRM	+ 0.93	MSFT
XOM	+ 0.92	MRK
A	+ 0.85	UBER
UBER	+ 0.84	MSFT
A	+ 0.8	MSFT
XOM	+ 0.76	T

High negative correlations

XOM	- 0.94	MSFT
MRK	- 0.91	MSFT
XOM	- 0.9	CRM
T	- 0.86	MSFT
XOM	- 0.84	A
CRM	- 0.84	T

Themes Competition Risk-Adjusted Indicators

There is a big difference between Themes Etf performing well and Themes 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' 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	1.54	0.08	0.04	0.17	1.53	(1.74)	3.43	(2.81)	13.69
MSFT	1.33	(0.31)	0.00	(0.50)	0.00	0.00	2.19	(2.87)	13.28
UBER	1.56	(0.19)	0.00	(0.30)	0.00	0.00	2.70	(3.82)	11.09
F	1.22	0.09	0.07	0.17	1.05	(1.50)	3.61	(2.22)	7.50
T	1.05	0.15	0.05	(0.64)	0.99	(1.22)	3.87	(1.76)	7.44
A	1.24	(0.41)	0.00	(0.32)	0.00	0.00	2.48	(2.73)	7.20
CRM	1.80	(0.30)	0.00	(0.18)	0.00	0.00	3.66	(4.75)	12.37
JPM	1.27	(0.11)	(0.03)	0.01	1.83	(1.30)	2.34	(3.11)	8.17
MRK	1.27	0.33	0.20	0.72	1.10	(1.42)	2.81	(2.06)	8.74
XOM	1.32	0.41	0.23	12.19	1.09	(1.57)	2.90	(2.44)	6.83

Themes Related Equities

One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with Themes etf to make a market-neutral strategy. Peer analysis of Themes could also be used in its relative valuation, which is a method of valuing Themes by comparing valuation metrics with similar companies.

AdvisorShares Hotel ETF KraneShares Trust Amplify Weight Loss Proshares SP Global City Different Investments Matthews China Discovery Columbia ETF Trust AdvisorShares Trust Spinnaker ETF Series Litman Gregory Funds American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup

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