Themes Global Correlations

GSIB Etf

45.79 0.17 0.37%

The current 90-days correlation between Themes Global System and Direxion Daily Regional is 0.64 (i.e., Poor diversification). The correlation of Themes Global 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.

Themes Global Correlation With Market

Poor diversification

The correlation between Themes Global Systemically and DJI is 0.68 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Themes Global Systemically and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Themes Etf

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Themes Global Systemically. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in gross domestic product.

Moving together with Themes Etf

0.95	XLF	Financial Select Sector	Pair Corr
0.96	VFH	Vanguard Financials Index	Pair Corr
0.9	KRE	SPDR SP Regional Potential Growth	Pair Corr
0.92	KBE	SPDR SP Bank Sell-off Trend	Pair Corr
0.97	IYF	iShares Financials ETF	Pair Corr
0.95	FNCL	Fidelity MSCI Financials	Pair Corr
0.96	IYG	iShares Financial	Pair Corr
0.94	EUFN	iShares MSCI Europe	Pair Corr
0.96	FXO	First Trust Financials	Pair Corr
0.94	IAT	iShares Regional Banks	Pair Corr
0.97	DFEN	Direxion Daily Aerospace	Pair Corr
0.95	TARK	AXS 2X Innovation	Pair Corr
0.87	BITU	ProShares Trust	Pair Corr
0.87	BTCL	T Rex 2X	Pair Corr
0.87	BTFX	Valkyrie Bitcoin Futures	Pair Corr
0.79	KWEB	KraneShares CSI China	Pair Corr
0.97	KEMQ	KraneShares Emerging	Pair Corr
0.79	DFCF	Dimensional ETF Trust	Pair Corr
0.84	IBM	International Business	Pair Corr
0.98	JPM	JPMorgan Chase	Pair Corr
0.85	PFE	Pfizer Inc Aggressive Push	Pair Corr
0.91	AXP	American Express	Pair Corr
0.86	CVX	Chevron Corp Earnings Call This Week	Pair Corr
0.72	INTC	Intel	Pair Corr
0.98	CAT	Caterpillar	Pair Corr
0.97	BAC	Bank of America	Pair Corr
0.92	BA	Boeing Earnings Call This Week	Pair Corr
0.88	DD	Dupont De Nemours Earnings Call This Week	Pair Corr
0.91	AA	Alcoa Corp	Pair Corr
0.94	GE	GE Aerospace	Pair Corr

Moving against Themes Etf

0.87	WTID	UBS ETRACS	Pair Corr
0.72	ARKC	ARK 21Shares Active Low Volatility	Pair Corr
0.75	MCD	McDonalds	Pair Corr
0.4	PG	Procter Gamble Earnings Call This Week	Pair Corr

Related Correlations Analysis

	DPST	EUFN	FBDC	FNCL	FAS	FAZ	FXO	GPZ	FTXO
DPST		0.78	-0.52	0.88	0.91	-0.89	0.94	-0.06	0.97	DPST
EUFN	0.78		-0.37	0.94	0.88	-0.9	0.89	-0.31	0.88	EUFN
FBDC	-0.52	-0.37		-0.46	-0.48	0.44	-0.45	-0.12	-0.5	FBDC
FNCL	0.88	0.94	-0.46		0.95	-0.96	0.96	-0.26	0.95	FNCL
FAS	0.91	0.88	-0.48	0.95		-0.99	0.98	-0.17	0.96	FAS
FAZ	-0.89	-0.9	0.44	-0.96	-0.99		-0.97	0.22	-0.95	FAZ
FXO	0.94	0.89	-0.45	0.96	0.98	-0.97		-0.2	0.99	FXO
GPZ	-0.06	-0.31	-0.12	-0.26	-0.17	0.22	-0.2		-0.22	GPZ
FTXO	0.97	0.88	-0.5	0.95	0.96	-0.95	0.99	-0.22		FTXO
	DPST	EUFN	FBDC	FNCL	FAS	FAZ	FXO	GPZ	FTXO

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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

FTXO	+ 0.99	FXO
FXO	+ 0.98	FAS
FTXO	+ 0.97	DPST
FXO	+ 0.96	FNCL
FTXO	+ 0.96	FAS
FAS	+ 0.95	FNCL

High negative correlations

FAZ	- 0.99	FAS
FXO	- 0.97	FAZ
FAZ	- 0.96	FNCL
FTXO	- 0.95	FAZ
FAZ	- 0.9	EUFN
FAZ	- 0.89	DPST

Themes Global Constituents Risk-Adjusted Indicators

There is a big difference between Themes Etf performing well and Themes Global 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 Global'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
DPST	3.38	(0.13)	0.15	0.17	3.49	(4.02)	7.30	(5.51)	24.10
EUFN	0.72	0.26	0.05	(3.93)	0.61	(0.79)	1.76	(1.40)	5.18
FBDC	0.56	0.26	0.00	3.70	0.00	0.00	1.45	(1.14)	2.58
FNCL	0.72	0.28	0.06	(3.14)	0.54	(0.77)	1.90	(1.08)	5.74
FAS	1.93	(0.04)	0.13	0.18	2.05	(2.08)	4.37	(3.15)	12.40
FAZ	1.97	0.06	0.00	0.18	0.00	0.00	3.48	(4.58)	11.98
FXO	0.78	0.03	0.05	0.22	0.70	(0.88)	1.74	(1.15)	5.32
GPZ	1.16	0.29	0.13	0.62	0.90	(1.18)	3.67	(1.87)	5.60
FTXO	0.99	0.07	0.13	0.25	0.77	(1.21)	2.50	(1.34)	7.66

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