Tema Global Correlations

MNTL Etf

23.80 0.00 0.00%

The current 90-days correlation between Tema Global and VanEck Vectors ETF is -0.05 (i.e., Good diversification). 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

Poor diversification

The correlation between Tema Global and DJI is 0.65 (i.e., Poor 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

0.69	MUU	Direxion Daily MU	Pair Corr
0.69	MULL	GraniteShares 2x Long	Pair Corr
0.62	JNUG	Direxion Daily Junior	Pair Corr
0.74	KORU	Direxion Daily South	Pair Corr
0.64	NUGT	Direxion Daily Gold	Pair Corr
0.64	SHNY	Microsectors Gold	Pair Corr
0.67	SIL	Global X Silver	Pair Corr
0.68	AHYB	American Century ETF	Pair Corr
0.76	RDIV	Invesco SP Ultra	Pair Corr
0.73	BINC	BlackRock ETF Trust	Pair Corr
0.68	OASC	OneAscent Small Cap	Pair Corr
0.62	AA	Alcoa Corp	Pair Corr
0.68	HD	Home Depot Sell-off Trend	Pair Corr
0.66	BA	Boeing	Pair Corr
0.75	DD	Dupont De Nemours	Pair Corr
0.77	CAT	Caterpillar	Pair Corr
0.75	XOM	Exxon Mobil Corp Aggressive Push	Pair Corr
0.75	JNJ	Johnson Johnson	Pair Corr
0.75	WMT	Walmart Common Stock Earnings Call This Week	Pair Corr

Moving against Tema Etf

0.66	IHI	iShares Medical Devices	Pair Corr
0.35	IHF	iShares Healthcare	Pair Corr
0.76	MSFT	Microsoft	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		-0.45	-0.5	0.46	0.12	-0.56	-0.11	0.33	0.51	0.46	META
MSFT	-0.45		0.78	-0.5	-0.56	0.69	0.79	0.03	-0.83	-0.9	MSFT
UBER	-0.5	0.78		-0.43	-0.36	0.76	0.49	-0.13	-0.79	-0.73	UBER
F	0.46	-0.5	-0.43		-0.1	-0.38	-0.19	0.35	0.65	0.58	F
T	0.12	-0.56	-0.36	-0.1		-0.27	-0.68	-0.08	0.3	0.46	T
A	-0.56	0.69	0.76	-0.38	-0.27		0.44	-0.07	-0.6	-0.76	A
CRM	-0.11	0.79	0.49	-0.19	-0.68	0.44		0.43	-0.51	-0.8	CRM
JPM	0.33	0.03	-0.13	0.35	-0.08	-0.07	0.43		0.24	-0.05	JPM
MRK	0.51	-0.83	-0.79	0.65	0.3	-0.6	-0.51	0.24		0.8	MRK
XOM	0.46	-0.9	-0.73	0.58	0.46	-0.76	-0.8	-0.05	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

XOM	+ 0.8	MRK
CRM	+ 0.79	MSFT
UBER	+ 0.78	MSFT
A	+ 0.76	UBER
A	+ 0.69	MSFT
MRK	+ 0.65	F

High negative correlations

XOM	- 0.9	MSFT
MRK	- 0.83	MSFT
XOM	- 0.8	CRM
MRK	- 0.79	UBER
XOM	- 0.76	A
XOM	- 0.73	UBER

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	1.52	0.04	0.01	0.13	1.51	(1.82)	3.43	(2.82)	13.69
MSFT	1.34	(0.34)	0.00	(0.77)	0.00	0.00	1.90	(2.74)	13.28
UBER	1.51	(0.41)	0.00	(0.71)	0.00	0.00	2.41	(3.82)	11.09
F	1.19	0.03	0.01	0.11	1.20	(1.46)	3.38	(2.35)	7.16
T	1.00	0.23	0.16	(9.07)	0.77	(1.17)	3.87	(1.54)	5.31
A	1.25	(0.33)	0.00	(0.18)	0.00	0.00	2.90	(2.73)	7.85
CRM	1.66	(0.44)	0.00	(0.38)	0.00	0.00	2.94	(4.75)	12.37
JPM	1.27	(0.15)	0.00	(0.03)	0.00	0.00	2.34	(3.11)	7.38
MRK	1.33	0.46	0.33	0.76	0.98	(1.68)	3.59	(1.98)	8.74
XOM	1.24	0.38	0.22	1.59	1.14	(1.43)	2.68	(2.12)	5.85

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.

Managed Portfolio Series DoubleLine ETF Trust Pacer Nasdaq International The Advisors Inner Principal Exchange Traded Funds Argent Focused Small VanEck Vectors ETF American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup SentinelOne CVS Health Corp Chevron Corp

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