Tema Global Correlations

MNTL Etf

23.80 0.00 0.00%

A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Tema Global moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Tema Global moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Tema Global Correlation With Market

Good diversification

The correlation between Tema Global and DJI is -0.05 (i.e., Good 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 persons.

Moving together with Tema Etf

0.62	IXJ	iShares Global Healthcare	Pair Corr
0.61	FHLC	Fidelity MSCI Health	Pair Corr
0.72	VTV	Vanguard Value Index	Pair Corr
0.65	JEPI	JPMorgan Equity Premium	Pair Corr
0.67	DD	Dupont De Nemours	Pair Corr
0.63	BAC	Bank of America	Pair Corr
0.66	JPM	JPMorgan Chase	Pair Corr
0.75	XOM	Exxon Mobil Corp Aggressive Push	Pair Corr

Moving against Tema Etf

0.5	IRE	Tidal Trust II Trending	Pair Corr
0.73	HPQ	HP Inc	Pair Corr
0.56	PG	Procter Gamble Earnings Call This Week	Pair Corr
0.51	MSFT	Microsoft	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.61	0.35	-0.45	0.24	-0.34	0.35	-0.22	-0.36	-0.45	META
MSFT	0.61		0.83	-0.54	0.43	-0.05	0.0	-0.51	-0.82	-0.65	MSFT
UBER	0.35	0.83		-0.51	0.45	0.21	-0.2	-0.52	-0.82	-0.6	UBER
F	-0.45	-0.54	-0.51		-0.69	0.14	0.33	0.65	0.69	0.78	F
T	0.24	0.43	0.45	-0.69		0.24	-0.61	-0.65	-0.48	-0.61	T
A	-0.34	-0.05	0.21	0.14	0.24		-0.55	-0.25	-0.02	0.04	A
CRM	0.35	0.0	-0.2	0.33	-0.61	-0.55		0.55	0.24	0.27	CRM
JPM	-0.22	-0.51	-0.52	0.65	-0.65	-0.25	0.55		0.69	0.67	JPM
MRK	-0.36	-0.82	-0.82	0.69	-0.48	-0.02	0.24	0.69		0.8	MRK
XOM	-0.45	-0.65	-0.6	0.78	-0.61	0.04	0.27	0.67	0.8		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

UBER	+ 0.83	MSFT
XOM	+ 0.8	MRK
XOM	+ 0.78	F
MRK	+ 0.69	F
MRK	+ 0.69	JPM
XOM	+ 0.67	JPM

High negative correlations

MRK	- 0.82	UBER
MRK	- 0.82	MSFT
T	- 0.69	F
JPM	- 0.65	T
XOM	- 0.65	MSFT
XOM	- 0.61	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	1.36	(0.24)	0.00	(0.91)	0.00	0.00	2.30	(2.72)	13.46
MSFT	0.93	(0.14)	0.00	1.10	0.00	0.00	1.65	(2.50)	4.90
UBER	1.49	(0.09)	0.00	0.25	0.00	0.00	2.60	(3.82)	10.23
F	1.41	0.31	0.14	1.78	1.26	(1.68)	3.38	(2.35)	16.30
T	0.90	(0.14)	0.00	3.37	0.00	0.00	1.63	(1.85)	5.78
A	1.09	(0.02)	(0.01)	0.09	1.19	(1.20)	2.34	(2.09)	6.50
CRM	1.60	(0.01)	(0.05)	0.55	2.36	(1.55)	3.66	(3.61)	9.91
JPM	1.18	0.02	(0.04)	0.25	1.67	(1.19)	2.34	(2.34)	7.02
MRK	1.22	0.30	0.18	0.88	1.06	(1.52)	3.59	(1.98)	8.09
XOM	1.06	0.12	0.06	0.33	1.05	(1.18)	2.21	(1.93)	5.82

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.

iShares MSCI United iShares Home Construction iShares Equity Factor iShares Russell Top iShares Morningstar Growth iShares Morningstar Mid Cap iShares Dow Jones iShares Core REIT iShares Infrastructure ETF iShares MSCI Canada American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup

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