Themes Infrastructure Correlations

HWAY Etf

35.96 0.09 0.25%

The current 90-days correlation between Themes Infrastructure ETF and The 2023 ETF is 0.87 (i.e., Very poor diversification). The correlation of Themes Infrastructure 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Themes Infrastructure Correlation With Market

Almost no diversification

The correlation between Themes Infrastructure ETF and DJI is 0.9 (i.e., Almost no diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Themes Infrastructure ETF 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 Infrastructure ETF. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in nation.

Moving together with Themes Etf

0.99	PAVE	Global X Infrastructure Low Volatility	Pair Corr
0.89	IGF	iShares Global Infra	Pair Corr
0.85	NFRA	FlexShares STOXX Global	Pair Corr
0.98	IFRA	iShares Infrastructure Low Volatility	Pair Corr
0.88	CPST	Calamos ETF Trust	Pair Corr
0.68	ELON	Battleshares TSLA	Pair Corr
0.89	ITDD	iShares Trust	Pair Corr
0.88	OASC	OneAscent Small Cap	Pair Corr
0.92	BINC	BlackRock ETF Trust	Pair Corr
0.87	AHYB	American Century ETF	Pair Corr
0.82	VBK	Vanguard Small Cap	Pair Corr
0.93	RDIV	Invesco SP Ultra	Pair Corr
0.96	DD	Dupont De Nemours	Pair Corr
0.85	MRK	Merck Company	Pair Corr
0.89	CVX	Chevron Corp Sell-off Trend	Pair Corr
0.97	CAT	Caterpillar	Pair Corr
0.92	XOM	Exxon Mobil Corp Aggressive Push	Pair Corr
0.86	BA	Boeing	Pair Corr
0.65	MCD	McDonalds Earnings Call Tomorrow	Pair Corr
0.82	AA	Alcoa Corp	Pair Corr
0.89	JNJ	Johnson Johnson Sell-off Trend	Pair Corr

Moving against Themes Etf

0.73	MPAY	Exchange Traded Concepts	Pair Corr
0.85	MSFT	Microsoft Sell-off Trend	Pair Corr
0.78	HPQ	HP Inc Aggressive Push	Pair Corr

Related Correlations Analysis

	MAKX	SJCP	FTIF	HFEQ	CARD	FCFY	NDAA	OOQB	BENJ	DRES
MAKX		0.8	0.84	0.89	-0.61	0.43	0.87	-0.08	0.72	0.67	MAKX
SJCP	0.8		0.94	0.88	-0.51	0.46	0.92	-0.14	0.66	0.52	SJCP
FTIF	0.84	0.94		0.93	-0.52	0.41	0.93	-0.24	0.69	0.65	FTIF
HFEQ	0.89	0.88	0.93		-0.68	0.54	0.98	-0.14	0.76	0.71	HFEQ
CARD	-0.61	-0.51	-0.52	-0.68		-0.84	-0.62	-0.03	-0.67	-0.63	CARD
FCFY	0.43	0.46	0.41	0.54	-0.84		0.51	0.31	0.33	0.17	FCFY
NDAA	0.87	0.92	0.93	0.98	-0.62	0.51		-0.1	0.74	0.64	NDAA
OOQB	-0.08	-0.14	-0.24	-0.14	-0.03	0.31	-0.1		-0.46	-0.53	OOQB
BENJ	0.72	0.66	0.69	0.76	-0.67	0.33	0.74	-0.46		0.92	BENJ
DRES	0.67	0.52	0.65	0.71	-0.63	0.17	0.64	-0.53	0.92		DRES
	MAKX	SJCP	FTIF	HFEQ	CARD	FCFY	NDAA	OOQB	BENJ	DRES

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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

NDAA	+ 0.98	HFEQ
FTIF	+ 0.94	SJCP
HFEQ	+ 0.93	FTIF
NDAA	+ 0.93	FTIF
NDAA	+ 0.92	SJCP
DRES	+ 0.92	BENJ

High negative correlations

FCFY	- 0.84	CARD
CARD	- 0.68	HFEQ
BENJ	- 0.67	CARD
DRES	- 0.63	CARD
NDAA	- 0.62	CARD
CARD	- 0.61	MAKX

Themes Infrastructure Constituents Risk-Adjusted Indicators

There is a big difference between Themes Etf performing well and Themes Infrastructure 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 Infrastructure'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
MAKX	1.31	0.12	0.03	3.32	1.55	(1.45)	2.43	(2.61)	9.37
SJCP	0.06	0.01	(0.82)	0.57	0.00	(0.08)	0.16	(0.12)	0.36
FTIF	0.84	0.17	0.13	0.27	0.80	(0.88)	1.97	(1.80)	4.72
HFEQ	1.00	0.01	0.03	0.09	1.21	(0.97)	2.36	(2.10)	6.26
CARD	3.21	0.14	0.00	0.04	0.00	0.00	6.41	(6.45)	17.96
FCFY	0.81	(0.03)	(0.03)	0.05	1.02	(0.84)	1.88	(1.80)	5.62
NDAA	0.49	0.02	(0.01)	0.12	0.49	(0.56)	1.09	(1.12)	2.78
OOQB	2.99	(0.82)	0.00	(0.26)	0.00	0.00	5.60	(6.20)	24.18
BENJ	0.01	0.00	0.00	0.00	0.00	0.00	0.04	0.00	0.10
DRES	0.93	0.17	0.18	0.24	0.72	(1.05)	2.25	(1.87)	4.66

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