Themes Natural Correlations

CZAR Etf

29.60 0.16 0.54%

The current 90-days correlation between Themes Natural Monopoly and Strategy Shares is -0.05 (i.e., Good diversification). The correlation of Themes Natural 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 Natural Correlation With Market

Good diversification

The correlation between Themes Natural Monopoly and DJI is -0.17 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Themes Natural Monopoly and DJI in the same portfolio, assuming nothing else is changed.

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Themes Natural Monopoly. 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 together with Themes Etf

0.67	VT	Vanguard Total World	Pair Corr
0.85	ACWV	iShares MSCI Global	Pair Corr
0.64	CRBN	iShares MSCI ACWI	Pair Corr
0.96	GLOV	Goldman Sachs ActiveBeta	Pair Corr
0.68	SDG	iShares MSCI Global	Pair Corr
0.73	BABX	GraniteShares 175x Long	Pair Corr
0.69	GDXU	MicroSectors Gold Miners	Pair Corr
0.7	XPP	ProShares Ultra FTSE	Pair Corr
0.66	JNUG	Direxion Daily Junior	Pair Corr
0.78	CSCO	Cisco Systems	Pair Corr
0.74	KO	Coca Cola	Pair Corr
0.68	VZ	Verizon Communications	Pair Corr
0.68	DD	Dupont De Nemours	Pair Corr
0.79	T	ATT Inc Sell-off Trend	Pair Corr
0.82	IBM	International Business	Pair Corr
0.69	MCD	McDonalds	Pair Corr
0.72	MMM	3M Company	Pair Corr

Moving against Themes Etf

0.35	WTID	UBS ETRACS	Pair Corr
0.51	AA	Alcoa Corp	Pair Corr
0.46	MSFT	Microsoft Aggressive Push	Pair Corr

Related Correlations Analysis

	DHSB	MBOX	DIEM	MCHI	DIPS	DISO	DIVB	DIVD	DIVG
DHSB		-0.13	-0.09	-0.04	0.1	-0.01	-0.11	-0.06	-0.09	DHSB
MBOX	-0.13		0.36	0.16	-0.29	0.4	0.92	0.37	0.84	MBOX
DIEM	-0.09	0.36		0.86	0.13	-0.38	0.52	0.77	0.64	DIEM
MCHI	-0.04	0.16	0.86		0.47	-0.54	0.46	0.92	0.6	MCHI
DIPS	0.1	-0.29	0.13	0.47		-0.54	-0.04	0.52	0.09	DIPS
DISO	-0.01	0.4	-0.38	-0.54	-0.54		0.26	-0.51	0.06	DISO
DIVB	-0.11	0.92	0.52	0.46	-0.04	0.26		0.63	0.95	DIVB
DIVD	-0.06	0.37	0.77	0.92	0.52	-0.51	0.63		0.75	DIVD
DIVG	-0.09	0.84	0.64	0.6	0.09	0.06	0.95	0.75		DIVG
	DHSB	MBOX	DIEM	MCHI	DIPS	DISO	DIVB	DIVD	DIVG

Click cells to compare fundamentals

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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

DIVG	+ 0.95	DIVB
DIVB	+ 0.92	MBOX
DIVD	+ 0.92	MCHI
MCHI	+ 0.86	DIEM
DIVG	+ 0.84	MBOX
DIVD	+ 0.77	DIEM

High negative correlations

DISO	- 0.54	DIPS
DISO	- 0.54	MCHI
DIVD	- 0.51	DISO
DISO	- 0.38	DIEM
DIPS	- 0.29	MBOX
MBOX	- 0.13	DHSB

Themes Natural Constituents Risk-Adjusted Indicators

There is a big difference between Themes Etf performing well and Themes Natural 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 Natural'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	0.38	(0.05)	0.00	(0.25)	0.00	0.00	0.82	(0.74)	1.68
MBOX	0.70	0.00	0.00	(0.03)	0.00	0.00	1.27	(1.40)	3.06
DIEM	0.69	0.04	0.07	0.06	0.86	(0.75)	1.43	(1.89)	4.39
MCHI	1.36	0.28	0.20	0.87	1.39	(1.60)	2.63	(2.72)	7.91
DIPS	2.25	0.06	0.05	(0.09)	2.72	(2.43)	5.35	(4.43)	23.78
DISO	0.90	(0.11)	0.00	(0.21)	0.00	0.00	1.47	(2.12)	6.61
DIVB	0.66	0.04	0.05	0.02	0.87	(0.66)	1.16	(1.40)	3.13
DIVD	0.59	0.14	0.22	0.26	0.62	(0.67)	1.39	(0.95)	3.39
DIVG	0.60	0.03	0.06	0.03	0.75	(0.62)	1.23	(1.18)	3.05

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