Main Thematic Correlations

TMAT Etf

USD 23.20 0.88 3.65%

The current 90-days correlation between Main Thematic Innovation and Johnson Johnson is 0.09 (i.e., Significant diversification). The correlation of Main Thematic 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Main Thematic Correlation With Market

Good diversification

The correlation between Main Thematic Innovation and DJI is -0.18 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Main Thematic Innovation and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Main Etf

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Main Thematic Innovation. 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 against Main Etf

0.67	IXJ	iShares Global Healthcare	Pair Corr
0.41	DUKH	Ocean Park High	Pair Corr
0.38	JOYY	JOYY Inc Symbol Change	Pair Corr
0.36	VRAI	Virtus Real Asset	Pair Corr
0.69	JNJ	Johnson Johnson	Pair Corr
0.61	KO	Coca Cola Aggressive Push	Pair Corr
0.6	TRV	The Travelers Companies	Pair Corr
0.57	MCD	McDonalds Earnings Call This Week	Pair Corr
0.5	DD	Dupont De Nemours Earnings Call This Week	Pair Corr
0.45	VZ	Verizon Communications Aggressive Push	Pair Corr
0.39	AA	Alcoa Corp	Pair Corr

Related Correlations Analysis

	PFE	PG	CVX	MRK	MCD	MMM	BA	CAT	JNJ
PFE		0.32	0.61	0.67	0.69	-0.2	0.47	0.69	0.81	PFE
PG	0.32		0.52	0.06	0.21	-0.24	0.06	0.31	0.33	PG
CVX	0.61	0.52		0.62	0.28	-0.46	0.77	0.86	0.72	CVX
MRK	0.67	0.06	0.62		0.59	-0.28	0.73	0.69	0.88	MRK
MCD	0.69	0.21	0.28	0.59		-0.27	0.31	0.49	0.72	MCD
MMM	-0.2	-0.24	-0.46	-0.28	-0.27		-0.5	-0.43	-0.4	MMM
BA	0.47	0.06	0.77	0.73	0.31	-0.5		0.81	0.69	BA
CAT	0.69	0.31	0.86	0.69	0.49	-0.43	0.81		0.8	CAT
JNJ	0.81	0.33	0.72	0.88	0.72	-0.4	0.69	0.8		JNJ
	PFE	PG	CVX	MRK	MCD	MMM	BA	CAT	JNJ

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

JNJ	+ 0.88	MRK
CAT	+ 0.86	CVX
JNJ	+ 0.81	PFE
CAT	+ 0.81	BA
JNJ	+ 0.8	CAT
BA	+ 0.77	CVX

High negative correlations

BA	- 0.5	MMM
MMM	- 0.46	CVX
CAT	- 0.43	MMM
JNJ	- 0.4	MMM
MMM	- 0.28	MRK
MMM	- 0.27	MCD

Main Thematic Constituents Risk-Adjusted Indicators

There is a big difference between Main Etf performing well and Main 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 Main 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
PFE	1.13	0.15	0.09	0.21	1.26	(1.17)	2.40	(2.42)	7.97
PG	0.95	0.08	0.02	1.08	1.07	(1.06)	1.84	(1.55)	5.66
CVX	1.09	0.26	0.15	2.33	1.12	(1.20)	2.61	(1.86)	9.56
MRK	1.32	0.46	0.31	0.65	1.07	(1.63)	3.59	(1.98)	8.09
MCD	0.84	0.08	0.05	0.22	0.87	(0.93)	2.16	(1.49)	4.64
MMM	1.17	(0.08)	0.00	(0.01)	0.00	0.00	2.11	(2.10)	9.29
BA	1.25	0.22	0.14	0.38	1.18	(1.38)	2.79	(2.86)	13.27
CAT	1.51	0.29	0.11	9.83	1.91	(1.56)	3.53	(4.03)	8.72
JNJ	0.78	0.32	0.34	2.01	0.37	(0.97)	2.29	(1.39)	5.56

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