Main Thematic Correlations

Etfs USA . 
Etf . Main Thematic Innovation
TMAT Etf  USD 24.99  0.21  0.85%   
The current 90-days correlation between Main Thematic Innovation and Managed Portfolio Series is 0.65 (i.e., Poor 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

Very good diversification

The correlation between Main Thematic Innovation and DJI is -0.37 (i.e., Very 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

  0.68VRAI Virtus Real AssetPairCorr
  0.58INFL Horizon Kinetics InfPairCorr
  0.57IJS iShares SP SmallPairCorr
  0.56PBD Invesco Global CleanPairCorr
  0.56RHRX Starboard InvestmentPairCorr
  0.47ELON Battleshares TSLAPairCorr
  0.46AMPD Tidal ETF ServicesPairCorr
  0.44SAGP Advisorsa InnerPairCorr
  0.4CPST Calamos ETF TrustPairCorr
  0.37CTEC Global X CleanTechPairCorr
  0.68DES WisdomTree SmallCapPairCorr
  0.65DXJ WisdomTree Japan HedgedPairCorr
  0.64AVUV Avantis Small CapPairCorr
  0.62FIDU Fidelity MSCI IndustrialsPairCorr
  0.61IYR iShares Real EstatePairCorr
  0.6IAU iShares Gold TrustPairCorr
  0.6IOCT Innovator ETFs TrustPairCorr
  0.58IEMG iShares Core MSCIPairCorr
  0.57EPU iShares MSCI PeruPairCorr
  0.49ITDD iShares TrustPairCorr
  0.48AUMI Themes Gold MinersPairCorr
  0.46EAFG Pacer Funds TrustPairCorr
  0.43BIB ProShares Ultra NasdaqPairCorr
  0.38QTAP Innovator Growth 100PairCorr
  0.32LGCF Themes Cash FlowPairCorr
  0.79BMNZ Tidal Trust IIPairCorr
  0.69VYMI Vanguard InternationalPairCorr
  0.68SCDV ETF Series SolutionsPairCorr
  0.68ISTB iShares Core 1PairCorr
  0.66SEA US Global SeaPairCorr
  0.63CCNR CoreCommodity NaturalPairCorr
  0.62VEA Vanguard FTSE DevelopedPairCorr
  0.58BND Vanguard Total BondPairCorr

Related Correlations Analysis


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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
RNEM  0.49  0.06  0.02  0.24  0.39 
(0.55)
 0.93 
(0.70)
 2.76 
RBLD  0.62  0.16  0.17  0.30  0.47 
(0.72)
 1.35 
(1.39)
 3.22 
DTRE  0.52  0.10  0.06  0.39  0.53 
(0.53)
 1.17 
(1.14)
 3.26 
SCAP  0.76  0.06  0.06  0.13  0.80 
(0.88)
 1.52 
(1.79)
 5.14 
QLVE  0.63  0.12  0.11  0.30  0.56 
(0.74)
 1.52 
(0.86)
 6.35 
JCHI  0.65 (0.02)(0.07) 0.05  0.74 
(0.73)
 1.22 
(1.38)
 4.63 
PEMX  0.76  0.32  0.37  0.52  0.20 
(0.96)
 2.39 
(0.96)
 4.15 
SHRY  0.53  0.10  0.12  0.23  0.39 
(0.61)
 1.30 
(0.85)
 3.12 
FTXH  0.79  0.12  0.11  0.31  0.59 
(1.00)
 1.87 
(1.24)
 3.77 
LST  0.71  0.11  0.12  0.21  0.67 
(0.82)
 1.34 
(1.11)
 4.73 

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