Themes Robotics Correlations

Etfs . USA . 
Etf . Themes Robotics Automation
BOTT Etf   32.49  0.04  0.12%   
The current 90-days correlation between Themes Robotics Auto and iShares Dividend and is 0.62 (i.e., Poor diversification). The correlation of Themes Robotics 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.

Themes Robotics Correlation With Market

Poor diversification

The correlation between Themes Robotics Automation and DJI is 0.67 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Themes Robotics Automation and DJI in the same portfolio, assuming nothing else is changed.
  
Build AI portfolio with Themes Etf
Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Themes Robotics Automation. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in estimate.

Moving together with Themes Etf

  0.99VGT Vanguard InformationPairCorr
  0.99XLK Technology Select SectorPairCorr
  0.99IYW iShares Technology ETFPairCorr
  0.98SMH VanEck Semiconductor ETF Sell-off TrendPairCorr
  0.97SOXX iShares Semiconductor ETF Sell-off TrendPairCorr
  0.93CIBR First Trust NASDAQPairCorr
  0.99FTEC Fidelity MSCI InformationPairCorr
  0.96IGV iShares Expanded TechPairCorr
  0.97FDN First Trust DowPairCorr
  0.99IGM iShares Expanded TechPairCorr
  0.79PFFL ETRACS 2xMonthly PayPairCorr
  0.99ITDD iShares TrustPairCorr
  0.67PMBS PIMCO Mortgage BackedPairCorr
  0.95GE GE AerospacePairCorr
  0.96CSCO Cisco SystemsPairCorr
  0.93DIS Walt DisneyPairCorr
  0.93BA Boeing Earnings Call This WeekPairCorr
  0.98CAT CaterpillarPairCorr
  0.88DD Dupont De Nemours Earnings Call This WeekPairCorr
  0.82PFE Pfizer Inc Aggressive PushPairCorr
  0.96BAC Bank of AmericaPairCorr
  0.84CVX Chevron Corp Earnings Call This WeekPairCorr
  0.83MMM 3M CompanyPairCorr

Moving against Themes Etf

  0.77MPAY Exchange Traded ConceptsPairCorr
  0.73MCD McDonaldsPairCorr
  0.61KO Coca ColaPairCorr
  0.4PG Procter Gamble Earnings Call This WeekPairCorr

Related Correlations Analysis

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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   
XT
+ 0.99
DIVB
XT
+ 0.99
GK
METV
+ 0.99
GK
DMXF
+ 0.99
DMCY
METV
+ 0.98
XT
DMCY
+ 0.98
XT
  
High negative correlations   
DMXF
- 0.0
MJ

Themes Robotics Constituents Risk-Adjusted Indicators

There is a big difference between Themes Etf performing well and Themes Robotics 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 Robotics' 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.

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