Themes Cybersecurity Correlations

SPAM Etf

32.69 0.05 0.15%

The current 90-days correlation between Themes Cybersecurity ETF and iShares Dividend and is 0.51 (i.e., Very weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Themes Cybersecurity moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Themes Cybersecurity ETF moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Themes Cybersecurity Correlation With Market

Modest diversification

The correlation between Themes Cybersecurity ETF and DJI is 0.23 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Themes Cybersecurity ETF and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Themes Etf

0.88	CIBR	First Trust NASDAQ	Pair Corr
0.66	IGV	iShares Expanded Tech	Pair Corr
0.76	FDN	First Trust Dow	Pair Corr
0.69	IGM	iShares Expanded Tech	Pair Corr
0.93	MAPP	Harbor ETF Trust	Pair Corr
0.83	HART	IQ Healthy Hearts	Pair Corr
0.78	CSCO	Cisco Systems Aggressive Push	Pair Corr
0.62	JNJ	Johnson Johnson	Pair Corr
0.85	T	ATT Inc Aggressive Push	Pair Corr
0.75	JPM	JPMorgan Chase	Pair Corr
0.77	GE	GE Aerospace Sell-off Trend	Pair Corr
0.68	MMM	3M Company	Pair Corr
0.77	WMT	Walmart Earnings Call This Week	Pair Corr
0.62	MCD	McDonalds	Pair Corr

Moving against Themes Etf

0.65

MRK

Merck Company

Pair Corr

Related Correlations Analysis

	DIVB	MCSE	MDCP	EV	GK	MJ	PP	XT	METV
DIVB		0.56	0.67	0.4	0.49	0.33	0.57	0.59	0.12	DIVB
MCSE	0.56		-0.05	0.1	0.42	-0.4	0.29	0.91	0.72	MCSE
MDCP	0.67	-0.05		0.63	0.48	0.75	0.65	0.05	-0.31	MDCP
EV	0.4	0.1	0.63		0.62	0.57	0.71	0.25	0.01	EV
GK	0.49	0.42	0.48	0.62		0.2	0.79	0.64	0.54	GK
MJ	0.33	-0.4	0.75	0.57	0.2		0.44	-0.28	-0.56	MJ
PP	0.57	0.29	0.65	0.71	0.79	0.44		0.52	0.36	PP
XT	0.59	0.91	0.05	0.25	0.64	-0.28	0.52		0.81	XT
METV	0.12	0.72	-0.31	0.01	0.54	-0.56	0.36	0.81		METV
	DIVB	MCSE	MDCP	EV	GK	MJ	PP	XT	METV

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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

XT	+ 0.91	MCSE
METV	+ 0.81	XT
PP	+ 0.79	GK
MJ	+ 0.75	MDCP
METV	+ 0.72	MCSE
PP	+ 0.71	EV

High negative correlations

METV	- 0.56	MJ
MJ	- 0.4	MCSE
METV	- 0.31	MDCP
XT	- 0.28	MJ
MDCP	- 0.05	MCSE

Themes Cybersecurity Constituents Risk-Adjusted Indicators

There is a big difference between Themes Etf performing well and Themes Cybersecurity 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 Cybersecurity'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
DIVB	0.54	0.00	0.01	0.01	0.69	(0.57)	1.01	(0.76)	3.96
MCSE	0.71	0.06	0.06	0.13	0.88	(0.81)	1.73	(1.48)	4.40
MDCP	0.66	(0.17)	0.00	(0.28)	0.00	0.00	1.33	(1.22)	4.70
EV	0.96	(0.01)	(0.01)	(0.04)	1.24	(0.94)	1.62	(1.76)	6.73
GK	0.78	0.02	0.02	0.05	1.23	(0.71)	1.55	(1.55)	5.38
MJ	1.72	(0.28)	0.00	(0.52)	0.00	0.00	4.39	(3.59)	12.45
PP	1.18	(0.02)	0.00	(0.02)	0.00	0.00	2.71	(2.05)	9.37
XT	0.73	0.05	0.05	0.09	0.94	(0.76)	1.31	(1.58)	4.52
METV	1.03	0.15	0.11	0.33	1.19	(1.09)	2.09	(2.17)	6.21

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