IShares Thematic Correlations

THRO Etf

39.14 0.11 0.28%

The current 90-days correlation between iShares Thematic Rotation and First Trust Preferred is 0.65 (i.e., Poor diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as IShares Thematic moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if iShares Thematic Rotation moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

IShares Thematic Correlation With Market

Poor diversification

The correlation between iShares Thematic Rotation and DJI is 0.74 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding iShares Thematic Rotation and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with IShares Etf

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

Moving together with IShares Etf

0.78	VTI	Vanguard Total Stock Sell-off Trend	Pair Corr
0.78	SPY	SPDR SP 500 Sell-off Trend	Pair Corr
0.78	IVV	iShares Core SP Sell-off Trend	Pair Corr
0.8	VIG	Vanguard Dividend	Pair Corr
0.78	VV	Vanguard Large Cap	Pair Corr
0.65	RSP	Invesco SP 500	Pair Corr
0.98	IWB	iShares Russell 1000	Pair Corr
0.99	ESGU	iShares ESG Aware	Pair Corr
0.9	DFAC	Dimensional Core Equity	Pair Corr
0.78	TOT	Advisor Managed Port	Pair Corr
0.74	DUKH	Ocean Park High	Pair Corr
0.66	FTBI	First Trust Exchange	Pair Corr
0.73	QLC	FlexShares Quality Large	Pair Corr
0.81	CSD	Invesco SP Spin	Pair Corr
0.68	QULL	ETRACS 2x Leveraged	Pair Corr
0.66	SCZ	iShares MSCI EAFE	Pair Corr
0.98	GUSA	Goldman Sachs MarketBeta	Pair Corr
0.63	XLK	Technology Select Sector Aggressive Push	Pair Corr
0.78	VOO	Vanguard SP 500	Pair Corr
0.86	TJUL	Innovator Etfs Trust	Pair Corr
0.88	QQH	HCM Defender 100	Pair Corr
0.76	ECOW	Pacer Emerging Markets	Pair Corr

Moving against IShares Etf

0.77	VXX	iPath Series B	Pair Corr
0.43	NFLX	Netflix	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.66	0.53	-0.61	0.51	-0.55	0.22	-0.16	-0.53	-0.6	META
MSFT	0.66		0.83	-0.52	0.37	-0.19	0.05	-0.34	-0.77	-0.61	MSFT
UBER	0.53	0.83		-0.61	0.56	-0.23	-0.18	-0.32	-0.85	-0.6	UBER
F	-0.61	-0.52	-0.61		-0.69	0.49	0.32	0.44	0.68	0.75	F
T	0.51	0.37	0.56	-0.69		-0.45	-0.53	-0.26	-0.51	-0.48	T
A	-0.55	-0.19	-0.23	0.49	-0.45		-0.2	-0.27	0.4	0.19	A
CRM	0.22	0.05	-0.18	0.32	-0.53	-0.2		0.41	0.11	0.2	CRM
JPM	-0.16	-0.34	-0.32	0.44	-0.26	-0.27	0.41		0.38	0.44	JPM
MRK	-0.53	-0.77	-0.85	0.68	-0.51	0.4	0.11	0.38		0.66	MRK
XOM	-0.6	-0.61	-0.6	0.75	-0.48	0.19	0.2	0.44	0.66		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	+ 0.75	F
MRK	+ 0.68	F
MSFT	+ 0.66	META
XOM	+ 0.66	MRK
T	+ 0.56	UBER

High negative correlations

MRK	- 0.85	UBER
MRK	- 0.77	MSFT
T	- 0.69	F
F	- 0.61	UBER
XOM	- 0.61	MSFT
F	- 0.61	META

IShares Thematic Competition Risk-Adjusted Indicators

There is a big difference between IShares Etf performing well and IShares Thematic 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 IShares Thematic'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	1.38	(0.27)	0.00	(0.20)	0.00	0.00	2.30	(2.72)	13.52
MSFT	0.90	(0.11)	0.00	(0.11)	0.00	0.00	1.78	(2.50)	5.08
UBER	1.46	(0.35)	0.00	(0.25)	0.00	0.00	2.60	(3.82)	10.51
F	1.51	0.13	0.08	0.16	1.68	(1.65)	3.38	(2.63)	16.30
T	0.95	(0.22)	0.00	(0.71)	0.00	0.00	1.61	(2.18)	5.75
A	1.23	0.08	0.06	0.15	1.26	(1.33)	2.34	(2.21)	11.03
CRM	1.54	0.05	0.03	0.13	1.98	(1.51)	3.66	(2.92)	9.91
JPM	1.05	(0.02)	0.00	0.06	1.39	(1.07)	2.00	(1.91)	7.02
MRK	1.44	0.40	0.28	0.54	1.07	(1.80)	4.85	(2.06)	11.45
XOM	0.94	0.05	(0.01)	0.28	0.98	(1.01)	1.96	(1.51)	4.99

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