Themes Copper Correlations

COPA Etf

24.92 0.23 0.93%

The current 90-days correlation between Themes Copper Miners and FlexShares Morningstar Global is 0.52 (i.e., Very weak diversification). The correlation of Themes Copper 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 Copper Correlation With Market

Significant diversification

The correlation between Themes Copper Miners and DJI is 0.04 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Themes Copper Miners 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 Copper Miners. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in american community survey.

Moving together with Themes Etf

0.88	EV	Mast Global Battery	Pair Corr
0.73	XLB	Materials Select Sector Sell-off Trend	Pair Corr
0.63	VAW	Vanguard Materials Index	Pair Corr
0.74	FXZ	First Trust Materials	Pair Corr
0.61	URNM	Sprott Uranium Miners	Pair Corr
0.76	IYM	iShares Basic Materials	Pair Corr
0.61	MCD	McDonalds Fiscal Year End 3rd of February 2025	Pair Corr

Moving against Themes Etf

0.39

Procter Gamble

Pair Corr

Related Correlations Analysis

	GUNR	ONEY	QEFA	DFIGX
GUNR		0.08	0.54	0.16	GUNR
ONEY	0.08		-0.59	-0.65	ONEY
QEFA	0.54	-0.59		0.82	QEFA
DFIGX	0.16	-0.65	0.82		DFIGX
	GUNR	ONEY	QEFA	DFIGX

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

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

DFIGX	+ 0.82	QEFA
QEFA	+ 0.54	GUNR
DFIGX	+ 0.16	GUNR
ONEY	+ 0.08	GUNR

High negative correlations

DFIGX	- 0.65	ONEY
QEFA	- 0.59	ONEY

Themes Copper Constituents Risk-Adjusted Indicators

There is a big difference between Themes Etf performing well and Themes Copper 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 Copper'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
GUNR	0.70	(0.10)	0.00	(0.15)	0.00	0.00	1.40	(1.67)	4.07
ONEY	0.53	0.00	(0.06)	0.12	0.43	(0.63)	1.02	(0.93)	3.12
QEFA	0.59	(0.15)	0.00	(0.28)	0.00	0.00	0.98	(1.42)	3.61
DFIGX	0.23	(0.04)	0.00	(0.64)	0.00	0.00	0.46	(0.54)	1.35

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC