Themes Transatlantic Correlations

NATO Etf

26.85 0.00 0.00%

The current 90-days correlation between Themes Transatlantic and First Trust Indxx is 0.83 (i.e., Very poor diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Themes Transatlantic moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Themes Transatlantic Defense moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Themes Transatlantic Correlation With Market

Modest diversification

The correlation between Themes Transatlantic Defense and DJI is 0.25 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Themes Transatlantic Defense and DJI in the same portfolio, assuming nothing else is changed.

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Themes Transatlantic Defense. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in estimate.

Moving together with Themes Etf

0.86	XLI	Industrial Select Sector	Pair Corr
0.63	DRVN	Driven Brands Holdings	Pair Corr
0.82	ITA	iShares Aerospace Defense Low Volatility	Pair Corr
0.88	VIS	Vanguard Industrials	Pair Corr
0.88	FXR	First Trust Industri	Pair Corr
0.92	PPA	Invesco Aerospace Defense	Pair Corr
0.91	IYJ	iShares Industrials ETF Low Volatility	Pair Corr
0.75	IYT	iShares Transportation	Pair Corr
0.87	FIDU	Fidelity MSCI Industrials	Pair Corr
0.64	CRPT	First Trust SkyBridge	Pair Corr
0.64	CVX	Chevron Corp Fiscal Year End 7th of February 2025	Pair Corr
0.63	BAC	Bank of America	Pair Corr
0.69	TRV	The Travelers Companies Sell-off Trend	Pair Corr

Moving against Themes Etf

0.53	WTID	UBS ETRACS	Pair Corr
0.36	BA	Boeing Earnings Call Next Week	Pair Corr

Related Correlations Analysis

	MISL	DUSL	NATO	NFRA	EUAD	FIDU	CGW	FOWF	EXI
MISL		0.8	0.59	0.77	0.79	0.69	0.71	0.68	0.79	MISL
DUSL	0.8		0.8	0.8	0.66	0.97	0.82	0.76	0.96	DUSL
NATO	0.59	0.8		0.42	0.61	0.87	0.48	0.47	0.77	NATO
NFRA	0.77	0.8	0.42		0.61	0.68	0.94	0.82	0.85	NFRA
EUAD	0.79	0.66	0.61	0.61		0.61	0.61	0.53	0.75	EUAD
FIDU	0.69	0.97	0.87	0.68	0.61		0.71	0.68	0.92	FIDU
CGW	0.71	0.82	0.48	0.94	0.61	0.71		0.87	0.89	CGW
FOWF	0.68	0.76	0.47	0.82	0.53	0.68	0.87		0.8	FOWF
EXI	0.79	0.96	0.77	0.85	0.75	0.92	0.89	0.8		EXI
	MISL	DUSL	NATO	NFRA	EUAD	FIDU	CGW	FOWF	EXI

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Themes Transatlantic Constituents Risk-Adjusted Indicators

There is a big difference between Themes Etf performing well and Themes Transatlantic 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 Transatlantic'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
MISL	0.87	(0.04)	0.00	(0.06)	0.00	0.00	1.42	(1.68)	8.22
DUSL	2.02	(0.10)	0.00	(0.06)	0.00	0.00	3.70	(3.59)	20.07
NATO	0.85	0.03	0.01	0.10	0.97	(1.08)	1.87	(1.81)	6.41
NFRA	0.50	(0.10)	0.00	(0.27)	0.00	0.00	0.93	(1.08)	3.42
EUAD	0.82	0.01	(0.01)	0.05	0.98	(0.85)	1.71	(1.55)	4.51
FIDU	0.70	(0.02)	(0.03)	(0.01)	0.85	(0.79)	1.46	(1.15)	7.15
CGW	0.64	(0.16)	0.00	(0.34)	0.00	0.00	1.01	(1.30)	5.99
FOWF	0.53	0.11	0.12	1.01	0.53	(0.52)	0.95	(0.95)	2.05
EXI	0.55	(0.06)	0.00	(0.13)	0.00	0.00	1.04	(1.22)	4.59

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