Themes Global Correlations

GSIB Etf

54.52 0.74 1.38%

The current 90-days correlation between Themes Global System and Carbon Collective Short is -0.06 (i.e., Good diversification). The correlation of Themes Global 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 Global Correlation With Market

Almost no diversification

The correlation between Themes Global Systemically and DJI is 0.91 (i.e., Almost no diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Themes Global Systemically and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Themes Etf

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Themes Global Systemically. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in gross domestic product.

Moving together with Themes Etf

0.84	XLF	Financial Select Sector	Pair Corr
0.88	VFH	Vanguard Financials Index	Pair Corr
0.93	KRE	SPDR SP Regional	Pair Corr
0.94	KBE	SPDR SP Bank	Pair Corr
0.93	IYF	iShares Financials ETF	Pair Corr
0.88	FNCL	Fidelity MSCI Financials	Pair Corr
0.88	IYG	iShares Financial	Pair Corr
0.95	FXO	First Trust Financials	Pair Corr
0.96	IAT	iShares Regional Banks	Pair Corr
0.95	IXG	iShares Global Financials	Pair Corr
0.87	AGQ	ProShares Ultra Silver Trending	Pair Corr
0.86	GDXU	MicroSectors Gold Miners Trending	Pair Corr
0.89	JNUG	Direxion Daily Junior	Pair Corr
0.89	NUGT	Direxion Daily Gold	Pair Corr
0.91	LITL	Simplify Exchange Traded	Pair Corr
0.93	IWD	iShares Russell 1000	Pair Corr
0.76	XOM	Exxon Mobil Corp Earnings Call This Week	Pair Corr
0.83	CAT	Caterpillar Earnings Call This Week	Pair Corr
0.89	MRK	Merck Company Earnings Call This Week	Pair Corr
0.69	BA	Boeing Earnings Call Today	Pair Corr
0.66	BAC	Bank of America	Pair Corr
0.64	JPM	JPMorgan Chase	Pair Corr
0.88	DD	Dupont De Nemours	Pair Corr

Moving against Themes Etf

0.75	FNGO	MicroSectors FANG Index	Pair Corr
0.62	GBTC	Grayscale Bitcoin Trust	Pair Corr
0.42	NVDL	GraniteShares 15x Long	Pair Corr
0.33	FBL	GraniteShares 15x Long	Pair Corr
0.78	HPQ	HP Inc	Pair Corr
0.59	PG	Procter Gamble	Pair Corr
0.33	MMM	3M Company	Pair Corr

Related Correlations Analysis

	MEMS	PJIO	PJFM	NEWZ	ASMF	NSI	JADE	JLQD	ABCS	CCSB
MEMS		0.77	0.15	0.65	0.36	0.58	0.58	0.29	0.09	0.01	MEMS
PJIO	0.77		0.17	0.84	0.33	0.46	0.43	0.4	0.26	0.05	PJIO
PJFM	0.15	0.17		-0.04	0.92	0.84	0.83	0.68	0.92	0.61	PJFM
NEWZ	0.65	0.84	-0.04		0.11	0.19	0.16	0.36	0.1	-0.1	NEWZ
ASMF	0.36	0.33	0.92	0.11		0.93	0.93	0.76	0.91	0.63	ASMF
NSI	0.58	0.46	0.84	0.19	0.93		1.0	0.64	0.76	0.55	NSI
JADE	0.58	0.43	0.83	0.16	0.93	1.0		0.62	0.74	0.55	JADE
JLQD	0.29	0.4	0.68	0.36	0.76	0.64	0.62		0.79	0.52	JLQD
ABCS	0.09	0.26	0.92	0.1	0.91	0.76	0.74	0.79		0.63	ABCS
CCSB	0.01	0.05	0.61	-0.1	0.63	0.55	0.55	0.52	0.63		CCSB
	MEMS	PJIO	PJFM	NEWZ	ASMF	NSI	JADE	JLQD	ABCS	CCSB

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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

JADE	+ 1.0	NSI
NSI	+ 0.93	ASMF
JADE	+ 0.93	ASMF
ASMF	+ 0.92	PJFM
ABCS	+ 0.92	PJFM
ABCS	+ 0.91	ASMF

High negative correlations

CCSB	- 0.1	NEWZ
NEWZ	- 0.04	PJFM

Themes Global Constituents Risk-Adjusted Indicators

There is a big difference between Themes Etf performing well and Themes Global 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 Global'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
MEMS	0.72	0.00	(0.02)	0.07	0.88	(0.69)	1.26	(1.36)	3.42
PJIO	0.68	(0.10)	0.00	(0.04)	0.00	0.00	1.35	(1.81)	4.14
PJFM	0.66	0.11	0.07	0.49	0.63	(0.69)	1.62	(1.32)	3.21
NEWZ	0.77	(0.13)	0.00	(0.05)	0.00	0.00	1.55	(1.80)	4.47
ASMF	0.48	0.04	0.02	0.14	0.41	(0.51)	1.18	(0.85)	2.27
NSI	0.68	0.11	0.11	0.20	0.60	(0.75)	1.47	(1.16)	3.70
JADE	0.64	0.13	0.13	0.25	0.56	(0.71)	1.38	(1.22)	3.76
JLQD	0.14	(0.01)	(0.37)	(0.03)	0.16	(0.15)	0.29	(0.33)	0.76
ABCS	0.67	(0.01)	(0.02)	0.06	0.77	(0.69)	1.72	(1.22)	4.06
CCSB	0.21	0.01	(0.09)	1.07	0.53	(0.25)	0.25	(0.20)	3.83

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