Themes China Correlations

DRGN Etf

USD 32.64 0.44 1.33%

The current 90-days correlation between Themes China Generative and Strategy Shares is -0.11 (i.e., Good diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Themes China moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Themes China Generative moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Themes China Correlation With Market

Significant diversification

The correlation between Themes China Generative and DJI is 0.01 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Themes China Generative and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Themes Etf

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Themes China Generative. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in rate.

Moving together with Themes Etf

0.69

MSFT

Microsoft

Pair Corr

Moving against Themes Etf

0.68	MCD	McDonalds	Pair Corr
0.61	KO	Coca Cola	Pair Corr
0.44	MRK	Merck Company	Pair Corr
0.42	CSCO	Cisco Systems	Pair Corr
0.4	DD	Dupont De Nemours	Pair Corr
0.39	JNJ	Johnson Johnson Sell-off Trend	Pair Corr

Related Correlations Analysis

	DHSB	MBOX	DIEM	MCHI	DIPS	DISO	DIVB	DIVD	DIVG
DHSB		0.34	0.75	0.22	-0.49	-0.32	0.73	0.62	0.41	DHSB
MBOX	0.34		-0.02	0.6	0.2	-0.01	0.78	0.42	0.87	MBOX
DIEM	0.75	-0.02		0.22	-0.71	-0.24	0.41	0.46	0.0	DIEM
MCHI	0.22	0.6	0.22		-0.35	0.29	0.42	-0.04	0.44	MCHI
DIPS	-0.49	0.2	-0.71	-0.35		-0.08	-0.1	-0.02	0.23	DIPS
DISO	-0.32	-0.01	-0.24	0.29	-0.08		-0.09	-0.38	-0.1	DISO
DIVB	0.73	0.78	0.41	0.42	-0.1	-0.09		0.68	0.8	DIVB
DIVD	0.62	0.42	0.46	-0.04	-0.02	-0.38	0.68		0.43	DIVD
DIVG	0.41	0.87	0.0	0.44	0.23	-0.1	0.8	0.43		DIVG
	DHSB	MBOX	DIEM	MCHI	DIPS	DISO	DIVB	DIVD	DIVG

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

DIVG	+ 0.87	MBOX
DIVG	+ 0.8	DIVB
DIVB	+ 0.78	MBOX
DIEM	+ 0.75	DHSB
DIVB	+ 0.73	DHSB
DIVD	+ 0.68	DIVB

High negative correlations

DIPS	- 0.71	DIEM
DIPS	- 0.49	DHSB
DIVD	- 0.38	DISO
DIPS	- 0.35	MCHI
DISO	- 0.32	DHSB
DISO	- 0.24	DIEM

Themes China Constituents Risk-Adjusted Indicators

There is a big difference between Themes Etf performing well and Themes China 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 China'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
DHSB	0.17	0.00	(0.18)	0.07	0.21	(0.17)	0.42	(0.46)	1.12
MBOX	0.54	(0.02)	(0.06)	0.05	0.60	(0.62)	1.17	(1.08)	3.23
DIEM	0.58	0.10	0.03	1.51	0.83	(0.58)	1.14	(1.19)	4.59
MCHI	1.01	(0.06)	(0.05)	0.01	1.38	(1.05)	1.74	(1.66)	8.40
DIPS	1.41	0.04	0.00	0.02	0.00	0.00	2.84	(3.18)	8.38
DISO	0.90	(0.09)	0.00	1.64	0.00	0.00	1.81	(1.46)	8.66
DIVB	0.53	(0.02)	(0.04)	0.06	0.65	(0.53)	1.05	(1.07)	3.36
DIVD	0.49	0.02	(0.01)	0.11	0.43	(0.58)	1.26	(0.85)	2.82
DIVG	0.52	(0.03)	(0.07)	0.03	0.65	(0.54)	0.97	(1.17)	2.82

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