Themes Natural Correlations
| CZAR Etf | 30.24 0.09 0.30% |
The current 90-days correlation between Themes Natural Monopoly and Vanguard Total Stock is 0.8 (i.e., Very poor 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
Poor diversification
The correlation between Themes Natural Monopoly and DJI is 0.78 (i.e., Poor 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.
Themes |
Moving together with Themes Etf
| 0.81 | VTI | Vanguard Total Stock | PairCorr |
| 0.82 | SPY | SPDR SP 500 Aggressive Push | PairCorr |
| 0.82 | IVV | iShares Core SP | PairCorr |
| 0.91 | VIG | Vanguard Dividend | PairCorr |
| 0.81 | VV | Vanguard Large Cap | PairCorr |
| 0.88 | RSP | Invesco SP 500 | PairCorr |
| 0.81 | IWB | iShares Russell 1000 | PairCorr |
| 0.82 | ESGU | iShares ESG Aware | PairCorr |
| 0.82 | DFAC | Dimensional Core Equity | PairCorr |
| 0.82 | SPLG | SPDR Portfolio SP | PairCorr |
| 0.61 | WGMI | Valkyrie Bitcoin Miners | PairCorr |
| 0.7 | CSCO | Cisco Systems Sell-off Trend | PairCorr |
| 0.86 | CAT | Caterpillar Fiscal Year End 3rd of February 2025 | PairCorr |
| 0.63 | CVX | Chevron Corp Sell-off Trend | PairCorr |
| 0.85 | HD | Home Depot | PairCorr |
| 0.75 | AA | Alcoa Corp Fiscal Year End 15th of January 2025 | PairCorr |
| 0.65 | WMT | Walmart Aggressive Push | PairCorr |
| 0.72 | IBM | International Business Fiscal Year End 22nd of January 2025 | PairCorr |
| 0.75 | INTC | Intel Fiscal Year End 23rd of January 2025 | PairCorr |
Moving against Themes Etf
| 0.48 | JNJ | Johnson Johnson Sell-off Trend | PairCorr |
| 0.4 | MRK | Merck Company Fiscal Year End 6th of February 2025 | PairCorr |
Related Correlations Analysis
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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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| VTI | 0.56 | 0.01 | 0.00 | 0.14 | 0.64 | 1.07 | 4.07 | |||
| SPY | 0.54 | 0.01 | (0.02) | 0.14 | 0.64 | 1.12 | 3.77 | |||
| IVV | 0.54 | 0.01 | (0.02) | 0.14 | 0.64 | 1.12 | 3.75 | |||
| VIG | 0.52 | (0.02) | (0.07) | 0.10 | 0.47 | 1.07 | 3.23 | |||
| VV | 0.57 | 0.01 | (0.01) | 0.14 | 0.68 | 1.19 | 3.79 | |||
| RSP | 0.53 | 0.01 | (0.02) | 0.14 | 0.39 | 1.07 | 3.17 | |||
| IWB | 0.55 | 0.02 | 0.00 | 0.15 | 0.65 | 1.12 | 3.96 | |||
| DFAC | 0.57 | 0.00 | 0.00 | 0.13 | 0.67 | 1.04 | 4.65 | |||
| SPLG | 0.54 | 0.01 | (0.02) | 0.14 | 0.63 | 1.12 | 3.78 |