Themes Silver Correlations

AGMI Etf

35.78 1.09 2.96%

The current 90-days correlation between Themes Silver Miners and First Trust Exchange Traded is -0.11 (i.e., Good diversification). The correlation of Themes Silver 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 Silver Correlation With Market

Very good diversification

The correlation between Themes Silver Miners and DJI is -0.24 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Themes Silver Miners and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Themes Etf

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Themes Silver 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 population.

Moving together with Themes Etf

0.89	GDX	VanEck Gold Miners	Pair Corr
0.99	SIL	Global X Silver	Pair Corr
0.88	SILJ	Amplify ETF Trust	Pair Corr
0.92	SGDM	Sprott Gold Miners	Pair Corr
0.76	SGDJ	Sprott Junior Gold	Pair Corr
0.71	GOAU	US Global GO	Pair Corr
0.71	GOEX	Global X Gold	Pair Corr
0.88	LENS	Sarmaya Thematic ETF	Pair Corr
0.67	MAPP	Harbor ETF Trust	Pair Corr
0.73	PRME	Prime Medicine, Common Earnings Call This Week	Pair Corr
0.85	JUNE	Junee Limited Ordinary Symbol Change	Pair Corr
0.64	SNPD	DBX ETF Trust	Pair Corr
0.86	EVUS	iShares ESG Aware	Pair Corr
0.77	XOP	SPDR SP Oil	Pair Corr
0.9	IGSB	iShares 1 5 Sell-off Trend	Pair Corr
0.76	WCMI	First Trust Exchange	Pair Corr
0.86	SCHG	Schwab Large Cap	Pair Corr
0.88	GK	AdvisorShares Gerber	Pair Corr
0.7	PMAP	PGIM SP 500	Pair Corr
0.88	DIVO	Amplify CWP Enhanced	Pair Corr
0.87	VV	Vanguard Large Cap	Pair Corr
0.8	IJR	iShares Core SP	Pair Corr
0.74	SMLV	SPDR SSGA Small	Pair Corr
0.85	SCHD	Schwab Dividend Equity	Pair Corr
0.93	HYDR	Global X Hydrogen	Pair Corr
0.89	UFO	Procure Space ETF	Pair Corr
0.86	SGLC	Rbb Fund	Pair Corr
0.65	FLCG	Federated Hermes ETF	Pair Corr
0.9	EWH	iShares MSCI Hong	Pair Corr
0.87	XV	Simplify Exchange Traded	Pair Corr
0.68	XTR	Global X SP	Pair Corr
0.69	PVI	Invesco VRDO Tax	Pair Corr

Related Correlations Analysis

	MDEV	MDST	MEDX	MEDI	MGNR	MISL	DRIP	DRLL	MLPX
MDEV		0.5	0.49	0.46	0.59	0.53	-0.58	0.57	0.36	MDEV
MDST	0.5		0.4	0.44	0.8	0.68	-0.81	0.67	0.87	MDST
MEDX	0.49	0.4		0.96	0.74	0.79	-0.52	0.65	0.3	MEDX
MEDI	0.46	0.44	0.96		0.75	0.76	-0.51	0.63	0.4	MEDI
MGNR	0.59	0.8	0.74	0.75		0.92	-0.89	0.86	0.63	MGNR
MISL	0.53	0.68	0.79	0.76	0.92		-0.79	0.79	0.45	MISL
DRIP	-0.58	-0.81	-0.52	-0.51	-0.89	-0.79		-0.95	-0.67	DRIP
DRLL	0.57	0.67	0.65	0.63	0.86	0.79	-0.95		0.58	DRLL
MLPX	0.36	0.87	0.3	0.4	0.63	0.45	-0.67	0.58		MLPX
	MDEV	MDST	MEDX	MEDI	MGNR	MISL	DRIP	DRLL	MLPX

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

MEDI	+ 0.96	MEDX
MISL	+ 0.92	MGNR
MLPX	+ 0.87	MDST
DRLL	+ 0.86	MGNR
MGNR	+ 0.8	MDST
MISL	+ 0.79	MEDX

High negative correlations

DRLL	- 0.95	DRIP
DRIP	- 0.89	MGNR
DRIP	- 0.81	MDST
DRIP	- 0.79	MISL
MLPX	- 0.67	DRIP
DRIP	- 0.58	MDEV

Themes Silver Constituents Risk-Adjusted Indicators

There is a big difference between Themes Etf performing well and Themes Silver 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 Silver'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
MDEV	0.74	(0.11)	(0.11)	0.04	0.97	(0.74)	2.01	(1.70)	4.55
MDST	0.61	(0.01)	(0.15)	0.12	0.73	(0.60)	1.28	(1.19)	3.33
MEDX	0.98	(0.08)	(0.05)	0.07	1.34	(0.98)	1.98	(2.21)	6.74
MEDI	1.03	(0.09)	(0.05)	0.06	1.43	(1.05)	2.32	(2.38)	6.84
MGNR	0.73	0.13	0.03	0.58	0.51	(0.88)	1.86	(1.26)	3.86
MISL	0.73	0.25	0.21	0.58	0.44	(0.88)	1.97	(1.18)	4.32
DRIP	2.58	(0.29)	0.00	0.48	0.00	0.00	4.66	(6.32)	13.34
DRLL	1.06	0.09	(0.01)	0.42	1.12	(1.17)	1.88	(1.80)	5.37
MLPX	0.77	(0.01)	(0.11)	0.11	1.08	(0.74)	1.70	(1.77)	4.70

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

2025 Macroaxis LLC