IShares Thematic Correlations

THRO Etf

38.25 0.84 2.15%

The current 90-days correlation between iShares Thematic Rotation and First Trust Preferred is 0.71 (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 main economic indicators.

Moving together with IShares Etf

0.97	VTI	Vanguard Total Stock	Pair Corr
0.99	SPY	SPDR SP 500	Pair Corr
0.99	IVV	iShares Core SP	Pair Corr
0.82	VIG	Vanguard Dividend	Pair Corr
0.86	VV	Vanguard Large Cap	Pair Corr
0.74	RSP	Invesco SP 500	Pair Corr
0.97	IWB	iShares Russell 1000	Pair Corr
0.99	ESGU	iShares ESG Aware	Pair Corr
0.88	DFAC	Dimensional Core Equity	Pair Corr
0.76	CPST	Calamos ETF Trust	Pair Corr
0.87	ITDD	iShares Trust	Pair Corr
0.74	RYLG	Global X Russell	Pair Corr
0.83	SPUT	Innovator ETFs Trust	Pair Corr
0.73	DDX	Defined Duration Symbol Change	Pair Corr
0.68	KFEB	Innovator Small Cap	Pair Corr
0.77	SOXL	Direxion Daily Semic Aggressive Push	Pair Corr
0.62	JPIE	JP Morgan Exchange Sell-off Trend	Pair Corr
0.65	SKOR	FlexShares Credit	Pair Corr
0.65	FUSI	American Century ETF	Pair Corr
0.83	SMH	VanEck Semiconductor ETF	Pair Corr
0.78	GQI	Natixis ETF Trust	Pair Corr
0.63	NVMZ	TrueShares Structured	Pair Corr
0.68	EFA	iShares MSCI EAFE	Pair Corr
0.63	FIVA	Fidelity International	Pair Corr
0.66	IWO	iShares Russell 2000	Pair Corr
0.8	VT	Vanguard Total World	Pair Corr
0.74	GAPR	First Trust Exchange	Pair Corr
0.69	PBDC	Putnam ETF Trust	Pair Corr
0.84	HDUS	Lattice Strategies Trust	Pair Corr
0.74	SCYB	Schwab Strategic Trust Sell-off Trend	Pair Corr
0.72	XLI	Industrial Select Sector	Pair Corr

Moving against IShares Etf

0.47

MPAY

Exchange Traded Concepts

Pair Corr

Related Correlations Analysis

	FPE	AIQ	HIDE	BAI	VASVX	IJT	EWZ	TCAF	XLB	HEFA
FPE		0.57	0.78	0.17	0.9	0.89	0.59	0.46	0.89	0.96	FPE
AIQ	0.57		0.27	0.87	0.35	0.53	0.08	0.69	0.41	0.49	AIQ
HIDE	0.78	0.27		-0.06	0.74	0.69	0.72	0.38	0.82	0.84	HIDE
BAI	0.17	0.87	-0.06		-0.1	0.21	-0.18	0.59	0.02	0.07	BAI
VASVX	0.9	0.35	0.74	-0.1		0.78	0.48	0.25	0.89	0.9	VASVX
IJT	0.89	0.53	0.69	0.21	0.78		0.43	0.36	0.83	0.83	IJT
EWZ	0.59	0.08	0.72	-0.18	0.48	0.43		0.3	0.5	0.71	EWZ
TCAF	0.46	0.69	0.38	0.59	0.25	0.36	0.3		0.44	0.42	TCAF
XLB	0.89	0.41	0.82	0.02	0.89	0.83	0.5	0.44		0.9	XLB
HEFA	0.96	0.49	0.84	0.07	0.9	0.83	0.71	0.42	0.9		HEFA
	FPE	AIQ	HIDE	BAI	VASVX	IJT	EWZ	TCAF	XLB	HEFA

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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

HEFA	+ 0.96	FPE
VASVX	+ 0.9	FPE
HEFA	+ 0.9	VASVX
HEFA	+ 0.9	XLB
IJT	+ 0.89	FPE
XLB	+ 0.89	FPE

High negative correlations

EWZ	- 0.18	BAI
VASVX	- 0.1	BAI
BAI	- 0.06	HIDE

IShares Thematic Constituents 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
FPE	0.14	0.00	(0.29)	0.05	0.10	(0.15)	0.33	(0.22)	0.78
AIQ	0.99	(0.06)	(0.04)	0.01	1.42	(0.98)	1.87	(2.66)	5.95
HIDE	0.20	0.02	(0.14)	0.26	0.16	(0.21)	0.31	(0.48)	1.15
BAI	1.49	(0.09)	(0.03)	0.00	2.26	(1.33)	2.37	(3.83)	10.29
VASVX	0.91	0.21	0.22	0.33	0.49	(1.11)	2.01	(1.20)	13.74
IJT	0.79	0.00	0.00	0.06	0.91	(0.80)	1.63	(1.47)	4.62
EWZ	1.01	0.21	0.12	0.36	1.47	(1.09)	2.17	(1.82)	9.25
TCAF	0.52	0.02	(0.04)	0.23	0.62	(0.53)	1.02	(1.30)	2.97
XLB	0.78	0.12	0.08	0.52	0.69	(0.89)	1.95	(1.50)	3.96
HEFA	0.48	0.06	0.06	0.15	0.55	(0.50)	1.23	(1.16)	2.74

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