Tema Global Correlations

LUX Etf

23.33 0.00 0.00%

The correlation of Tema 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Tema Global Correlation With Market

Very weak diversification

The correlation between Tema Global and DJI is 0.56 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Tema Global and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Tema Etf

Check out Correlation Analysis 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 population.

Moving together with Tema Etf

0.71	ITB	iShares Home Construction Low Volatility	Pair Corr
0.72	XHB	SPDR SP Homebuilders	Pair Corr
0.64	JNUG	Direxion Daily Junior	Pair Corr
0.61	GDXU	MicroSectors Gold Miners	Pair Corr
0.67	NUGT	Direxion Daily Gold	Pair Corr
0.69	GDMN	WisdomTree Efficient Gold	Pair Corr
0.61	GAPR	First Trust Exchange	Pair Corr
0.79	BSMS	Invesco BulletShares 2028	Pair Corr
0.77	TAXT	Northern Trust Tax	Pair Corr
0.63	QLV	FlexShares Quality Low	Pair Corr
0.64	SPVM	Invesco SP 500	Pair Corr
0.65	UDI	USCF ETF Trust	Pair Corr
0.7	JPIE	JP Morgan Exchange	Pair Corr
0.62	VBK	Vanguard Small Cap	Pair Corr
0.66	XTWO	Bondbloxx ETF Trust	Pair Corr
0.68	PFF	iShares Preferred	Pair Corr
0.67	IBBQ	Invesco Nasdaq Biote	Pair Corr
0.76	LSEQ	Harbor ETF Trust	Pair Corr
0.71	FNDC	Schwab Fundamental	Pair Corr
0.71	XFIX	Fm Investments Symbol Change	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		-0.38	-0.43	0.41	0.14	-0.49	-0.08	0.34	0.45	0.41	META
MSFT	-0.38		0.81	-0.55	-0.68	0.73	0.83	0.07	-0.86	-0.91	MSFT
UBER	-0.43	0.81		-0.49	-0.53	0.8	0.58	-0.08	-0.8	-0.76	UBER
F	0.41	-0.55	-0.49		0.14	-0.45	-0.28	0.28	0.7	0.62	F
T	0.14	-0.68	-0.53	0.14		-0.44	-0.77	-0.14	0.45	0.6	T
A	-0.49	0.73	0.8	-0.45	-0.44		0.52	-0.02	-0.66	-0.79	A
CRM	-0.08	0.83	0.58	-0.28	-0.77	0.52		0.44	-0.61	-0.82	CRM
JPM	0.34	0.07	-0.08	0.28	-0.14	-0.02	0.44		0.21	-0.09	JPM
MRK	0.45	-0.86	-0.8	0.7	0.45	-0.66	-0.61	0.21		0.84	MRK
XOM	0.41	-0.91	-0.76	0.62	0.6	-0.79	-0.82	-0.09	0.84		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

XOM	+ 0.84	MRK
CRM	+ 0.83	MSFT
UBER	+ 0.81	MSFT
A	+ 0.8	UBER
A	+ 0.73	MSFT
MRK	+ 0.7	F

High negative correlations

XOM	- 0.91	MSFT
MRK	- 0.86	MSFT
XOM	- 0.82	CRM
MRK	- 0.8	UBER
XOM	- 0.79	A
CRM	- 0.77	T

Tema Global Competition Risk-Adjusted Indicators

There is a big difference between Tema Etf performing well and Tema 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 Tema 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
META	1.50	0.02	0.00	0.07	1.52	(1.82)	3.43	(2.82)	13.69
MSFT	1.32	(0.38)	0.00	(1.03)	0.00	0.00	1.90	(2.74)	13.28
UBER	1.51	(0.44)	0.00	(0.83)	0.00	0.00	2.41	(3.82)	11.09
F	1.21	0.07	0.05	0.13	1.18	(1.44)	3.34	(2.30)	7.16
T	1.00	0.21	0.17	6.48	0.77	(1.18)	3.87	(1.54)	5.31
A	1.25	(0.33)	0.00	(0.22)	0.00	0.00	2.90	(2.73)	7.85
CRM	1.71	(0.45)	0.00	(0.42)	0.00	0.00	2.94	(4.75)	12.37
JPM	1.27	(0.10)	0.00	(0.02)	0.00	0.00	2.34	(3.11)	7.38
MRK	1.29	0.43	0.31	0.78	1.00	(1.59)	2.93	(1.98)	8.74
XOM	1.25	0.32	0.20	1.60	1.14	(1.43)	2.68	(2.12)	6.83

Tema Global 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 Tema Global etf to make a market-neutral strategy. Peer analysis of Tema Global could also be used in its relative valuation, which is a method of valuing Tema Global by comparing valuation metrics with similar companies.

WisdomTree Simplify Asset Management KDIV PlanRock Investments Global X Direxion TrueMark Investments FCF Advisors Simplify Asset Management Ultra Blue Capital American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup

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