Themes Uranium Correlations

URAN Etf

34.18 1.00 3.01%

The current 90-days correlation between Themes Uranium Nuclear and First Trust Exchange Traded is 0.18 (i.e., Average diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Themes Uranium moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Themes Uranium Nuclear moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Themes Uranium Correlation With Market

Modest diversification

The correlation between Themes Uranium Nuclear and DJI is 0.26 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Themes Uranium Nuclear 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 Uranium Nuclear. 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 Themes Etf

0.48	DRIV	Global X Autonomous	Pair Corr
0.45	XT	iShares Exponential	Pair Corr
0.4	ACES	ALPS Clean Energy	Pair Corr
0.34	QCLN	First Trust NASDAQ	Pair Corr
0.31	TAN	Invesco Solar ETF	Pair Corr
0.31	AAIAX	AMERICAN BEACON INTE	Pair Corr
0.74	DD	Dupont De Nemours Fiscal Year End 4th of February 2025	Pair Corr
0.51	GE	GE Aerospace Fiscal Year End 28th of January 2025	Pair Corr
0.48	MCD	McDonalds Fiscal Year End 3rd of February 2025	Pair Corr
0.42	HD	Home Depot	Pair Corr
0.41	INTC	Intel Fiscal Year End 23rd of January 2025	Pair Corr

Related Correlations Analysis

	MDEV	MDST	MEDX	MEDI	MGNR	MISL	DPST	DRIP	DRLL
MDEV		-0.47	0.65	0.85	-0.08	0.21	-0.56	0.28	-0.27	MDEV
MDST	-0.47		-0.89	-0.62	0.82	0.54	0.92	-0.85	0.85	MDST
MEDX	0.65	-0.89		0.83	-0.7	-0.31	-0.79	0.67	-0.7	MEDX
MEDI	0.85	-0.62	0.83		-0.29	-0.03	-0.59	0.39	-0.43	MEDI
MGNR	-0.08	0.82	-0.7	-0.29		0.7	0.7	-0.78	0.79	MGNR
MISL	0.21	0.54	-0.31	-0.03	0.7		0.52	-0.56	0.58	MISL
DPST	-0.56	0.92	-0.79	-0.59	0.7	0.52		-0.77	0.75	DPST
DRIP	0.28	-0.85	0.67	0.39	-0.78	-0.56	-0.77		-0.99	DRIP
DRLL	-0.27	0.85	-0.7	-0.43	0.79	0.58	0.75	-0.99		DRLL
	MDEV	MDST	MEDX	MEDI	MGNR	MISL	DPST	DRIP	DRLL

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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

DPST	+ 0.92	MDST
MEDI	+ 0.85	MDEV
DRLL	+ 0.85	MDST
MEDI	+ 0.83	MEDX
MGNR	+ 0.82	MDST
DRLL	+ 0.79	MGNR

High negative correlations

DRLL	- 0.99	DRIP
MEDX	- 0.89	MDST
DRIP	- 0.85	MDST
DPST	- 0.79	MEDX
DRIP	- 0.78	MGNR
DRIP	- 0.77	DPST

Themes Uranium Constituents Risk-Adjusted Indicators

There is a big difference between Themes Etf performing well and Themes Uranium 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 Uranium'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
MDEV	0.58	(0.07)	(0.19)	0.00	0.65	(0.62)	1.32	(1.04)	2.88
MDST	0.67	0.12	0.09	0.37	0.49	(0.77)	1.59	(0.91)	4.02
MEDX	0.66	(0.26)	0.00	(0.31)	0.00	0.00	1.16	(1.65)	4.42
MEDI	0.82	(0.12)	0.00	(0.05)	0.00	0.00	1.55	(1.69)	5.09
MGNR	0.99	0.08	0.04	0.24	1.19	(1.11)	2.34	(1.79)	5.83
MISL	0.84	(0.07)	(0.05)	0.06	1.38	(0.84)	1.70	(1.89)	8.21
DPST	4.11	(0.03)	0.16	0.12	3.88	(5.02)	8.64	(5.98)	51.17
DRIP	2.39	0.07	0.00	0.09	0.00	0.00	5.12	(4.18)	18.28
DRLL	0.92	(0.02)	(0.04)	0.11	1.32	(0.87)	1.86	(2.04)	5.72

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