Tema ETF Correlations

LUX Etf

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The current 90-days correlation between Tema ETF Trust and Smith Nephew SNATS is 0.43 (i.e., Very weak diversification). The correlation of Tema ETF 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.

Tema ETF Correlation With Market

Very weak diversification

The correlation between Tema ETF Trust and DJI is 0.45 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Tema ETF Trust and DJI in the same portfolio, assuming nothing else is changed.

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Tema ETF Trust. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in employment.

Moving together with Tema Etf

0.7	PEJ	Invesco Dynamic Leisure	Pair Corr
0.86	ITDD	iShares Trust	Pair Corr
0.8	GE	GE Aerospace	Pair Corr
0.84	JPM	JPMorgan Chase Sell-off Trend	Pair Corr
0.8	CSCO	Cisco Systems	Pair Corr
0.71	IBM	International Business	Pair Corr

Moving against Tema Etf

0.49	GRI	GRI Bio Earnings Call This Week	Pair Corr
0.73	MRK	Merck Company	Pair Corr

Related Correlations Analysis

	SNN	FMS	FMX	COO	NTZ
SNN		0.34	0.87	-0.58	0.16	SNN
FMS	0.34		0.4	0.08	0.46	FMS
FMX	0.87	0.4		-0.72	0.03	FMX
COO	-0.58	0.08	-0.72		0.23	COO
NTZ	0.16	0.46	0.03	0.23		NTZ
	SNN	FMS	FMX	COO	NTZ

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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

FMX	+ 0.87	SNN
NTZ	+ 0.46	FMS
FMX	+ 0.4	FMS
FMS	+ 0.34	SNN
NTZ	+ 0.23	COO
NTZ	+ 0.16	SNN

High negative correlations

COO	- 0.72	FMX
COO	- 0.58	SNN

Tema ETF Constituents Risk-Adjusted Indicators

There is a big difference between Tema Etf performing well and Tema ETF 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 Tema ETF'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
SNN	1.17	0.18	0.15	0.35	1.30	(1.29)	2.38	(2.30)	10.31
FMS	1.16	0.11	0.08	0.09	1.63	(1.13)	2.53	(2.73)	8.79
FMX	1.27	0.20	0.17	0.79	1.33	(1.41)	2.99	(2.25)	7.97
COO	1.38	(0.27)	0.00	(0.47)	0.00	0.00	2.11	(2.58)	9.15
NTZ	2.86	(0.04)	0.00	(0.14)	0.00	0.00	6.75	(6.11)	24.28

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