Themes Small Correlations

SMCF Etf

35.67 0.21 0.59%

The current 90-days correlation between Themes Small Cap and PGIM ETF Trust is 0.71 (i.e., Poor diversification). The correlation of Themes Small 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.

Themes Small Correlation With Market

Almost no diversification

The correlation between Themes Small Cap and DJI is 0.94 (i.e., Almost no diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Themes Small Cap and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Themes Etf

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Themes Small Cap. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in services.

Moving together with Themes Etf

0.99	VBR	Vanguard Small Cap	Pair Corr
0.98	IWN	iShares Russell 2000	Pair Corr
0.99	DFAT	Dimensional Targeted	Pair Corr
0.99	IJS	iShares SP Small	Pair Corr
0.99	SLYV	SPDR SP 600	Pair Corr
0.99	AVUV	Avantis Small Cap	Pair Corr
0.98	DES	WisdomTree SmallCap	Pair Corr
0.99	MDYV	SPDR SP 400	Pair Corr
0.96	CALF	Pacer Small Cap	Pair Corr
0.97	REGL	ProShares SP MidCap	Pair Corr
0.82	JNUG	Direxion Daily Junior	Pair Corr
0.75	GDXU	MicroSectors Gold Miners Upward Rally	Pair Corr
0.83	NUGT	Direxion Daily Gold	Pair Corr
0.86	GDMN	WisdomTree Efficient Gold Low Volatility	Pair Corr
0.86	DGP	DB Gold Double	Pair Corr
0.82	DOGG	First Trust Exchange	Pair Corr
0.85	EMES	Harbor ETF Trust	Pair Corr
0.87	NBCE	Neuberger Berman ETF	Pair Corr
0.91	CHPS	Xtrackers Semiconductor	Pair Corr
0.89	PCEM	Litman Gregory Funds	Pair Corr
0.96	GENW	Spinnaker ETF Series	Pair Corr
0.93	LVHI	Franklin International	Pair Corr
0.98	JEPI	JPMorgan Equity Premium	Pair Corr
0.86	NCPB	Nuveen Core Plus	Pair Corr
0.91	XFIX	Fm Investments Symbol Change	Pair Corr
0.9	XYLD	Global X SP	Pair Corr
0.93	CCNR	CoreCommodity Natural	Pair Corr
0.94	IRTR	iShares Trust	Pair Corr
0.97	ESML	iShares ESG Aware	Pair Corr
0.9	QLV	FlexShares Quality Low	Pair Corr
0.89	XAUG	FT Cboe Vest	Pair Corr
0.95	UDI	USCF ETF Trust	Pair Corr
0.82	LSEQ	Harbor ETF Trust	Pair Corr
0.92	UMAY	Innovator ETFs Trust	Pair Corr

Related Correlations Analysis

	RND	SKRE	BTOP	MLPD	ABCS	USRD	JDIV	JDOC	BEEZ	PJFM
RND		0.3	0.24	-0.37	-0.1	0.79	-0.17	-0.02	0.02	-0.17	RND
SKRE	0.3		0.56	-0.89	-0.94	-0.24	-0.83	-0.65	-0.77	-0.93	SKRE
BTOP	0.24	0.56		-0.55	-0.51	-0.09	-0.54	-0.26	-0.56	-0.55	BTOP
MLPD	-0.37	-0.89	-0.55		0.84	0.13	0.88	0.69	0.75	0.92	MLPD
ABCS	-0.1	-0.94	-0.51	0.84		0.42	0.87	0.75	0.89	0.95	ABCS
USRD	0.79	-0.24	-0.09	0.13	0.42		0.34	0.32	0.5	0.39	USRD
JDIV	-0.17	-0.83	-0.54	0.88	0.87	0.34		0.7	0.88	0.93	JDIV
JDOC	-0.02	-0.65	-0.26	0.69	0.75	0.32	0.7		0.8	0.77	JDOC
BEEZ	0.02	-0.77	-0.56	0.75	0.89	0.5	0.88	0.8		0.9	BEEZ
PJFM	-0.17	-0.93	-0.55	0.92	0.95	0.39	0.93	0.77	0.9		PJFM
	RND	SKRE	BTOP	MLPD	ABCS	USRD	JDIV	JDOC	BEEZ	PJFM

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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

PJFM	+ 0.95	ABCS
PJFM	+ 0.93	JDIV
PJFM	+ 0.92	MLPD
PJFM	+ 0.9	BEEZ
BEEZ	+ 0.89	ABCS
JDIV	+ 0.88	MLPD

High negative correlations

ABCS	- 0.94	SKRE
PJFM	- 0.93	SKRE
MLPD	- 0.89	SKRE
JDIV	- 0.83	SKRE
BEEZ	- 0.77	SKRE
JDOC	- 0.65	SKRE

Themes Small Constituents Risk-Adjusted Indicators

There is a big difference between Themes Etf performing well and Themes Small 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 Small'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
RND	0.74	(0.16)	0.00	(0.16)	0.00	0.00	1.37	(1.95)	4.67
SKRE	2.06	(0.36)	0.00	0.23	0.00	0.00	2.65	(5.84)	17.01
BTOP	0.96	(0.15)	0.00	0.69	0.00	0.00	3.22	(3.02)	12.04
MLPD	0.30	0.09	0.07	7.17	0.13	(0.33)	0.61	(0.49)	1.67
ABCS	0.70	0.04	0.05	0.10	0.67	(0.79)	1.75	(1.22)	4.06
USRD	0.79	(0.10)	0.00	(0.04)	0.00	0.00	1.65	(1.70)	5.74
JDIV	0.59	0.03	0.01	0.10	0.68	(0.60)	1.12	(1.22)	3.69
JDOC	0.65	0.06	0.06	0.17	0.49	(0.84)	1.82	(1.19)	3.82
BEEZ	0.68	(0.02)	(0.03)	0.04	0.75	(0.75)	1.56	(1.28)	4.18
PJFM	0.73	0.08	0.07	0.14	0.82	(0.78)	1.77	(1.69)	5.33

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