Themes Infrastructure Correlations

HWAY Etf

31.64 0.09 0.29%

The current 90-days correlation between Themes Infrastructure ETF and ProShares SP Kensho is 0.8 (i.e., Very poor diversification). The correlation of Themes Infrastructure 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 Infrastructure Correlation With Market

Very poor diversification

The correlation between Themes Infrastructure ETF and DJI is 0.81 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Themes Infrastructure ETF and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Themes Etf

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Themes Infrastructure ETF. 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

0.97	PAVE	Global X Infrastructure	Pair Corr
0.73	IFRA	iShares Infrastructure	Pair Corr
0.72	FB	ProShares Trust ProShares	Pair Corr
0.9	TOT	Advisor Managed Port	Pair Corr
0.91	VTI	Vanguard Total Stock	Pair Corr
0.71	DUKH	Ocean Park High	Pair Corr
0.84	HEZU	iShares Currency Hedged	Pair Corr
0.93	CSD	Invesco SP Spin	Pair Corr
0.8	BATT	Amplify Lithium Battery	Pair Corr
0.61	PLTM	GraniteShares Platinum	Pair Corr
0.82	CPER	United States Copper	Pair Corr
0.61	VONG	Vanguard Russell 1000	Pair Corr
0.72	AGEM	abrdn Emerging Markets	Pair Corr
0.82	EQRR	ProShares Equities for	Pair Corr
0.61	SGOL	abrdn Physical Gold	Pair Corr
0.61	IAU	iShares Gold Trust	Pair Corr
0.64	FSST	Fidelity Sustainability	Pair Corr
0.82	JNK	SPDR Bloomberg High	Pair Corr
0.74	QQQM	Invesco NASDAQ 100	Pair Corr
0.87	DFAX	Dimensional World	Pair Corr
0.8	FSMD	Fidelity Small Mid	Pair Corr
0.84	USCL	iShares Climate Conscious	Pair Corr
0.61	FFLG	Fidelity Covington Trust Low Volatility	Pair Corr
0.87	QQJG	Invesco ESG NASDAQ	Pair Corr

Moving against Themes Etf

0.69	NFLX	Netflix	Pair Corr
0.35	FNGD	MicroSectors FANG Index	Pair Corr

Related Correlations Analysis

	MAKX	SJCP	FTIF	HFEQ	CARD	FCFY	NDAA	OOQB	BENJ	DRES
MAKX		-0.36	-0.03	0.65	-0.16	0.25	0.38	0.69	-0.39	0.37	MAKX
SJCP	-0.36		0.68	0.29	-0.19	0.34	0.56	-0.82	0.93	0.02	SJCP
FTIF	-0.03	0.68		0.62	-0.73	0.78	0.72	-0.51	0.78	0.57	FTIF
HFEQ	0.65	0.29	0.62		-0.49	0.61	0.89	0.18	0.29	0.47	HFEQ
CARD	-0.16	-0.19	-0.73	-0.49		-0.93	-0.39	0.16	-0.39	-0.84	CARD
FCFY	0.25	0.34	0.78	0.61	-0.93		0.52	-0.23	0.5	0.84	FCFY
NDAA	0.38	0.56	0.72	0.89	-0.39	0.52		-0.13	0.53	0.28	NDAA
OOQB	0.69	-0.82	-0.51	0.18	0.16	-0.23	-0.13		-0.85	0.01	OOQB
BENJ	-0.39	0.93	0.78	0.29	-0.39	0.5	0.53	-0.85		0.16	BENJ
DRES	0.37	0.02	0.57	0.47	-0.84	0.84	0.28	0.01	0.16		DRES
	MAKX	SJCP	FTIF	HFEQ	CARD	FCFY	NDAA	OOQB	BENJ	DRES

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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

BENJ	+ 0.93	SJCP
NDAA	+ 0.89	HFEQ
DRES	+ 0.84	FCFY
FCFY	+ 0.78	FTIF
BENJ	+ 0.78	FTIF
NDAA	+ 0.72	FTIF

High negative correlations

FCFY	- 0.93	CARD
BENJ	- 0.85	OOQB
DRES	- 0.84	CARD
OOQB	- 0.82	SJCP
CARD	- 0.73	FTIF
OOQB	- 0.51	FTIF

Themes Infrastructure Constituents Risk-Adjusted Indicators

There is a big difference between Themes Etf performing well and Themes Infrastructure 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 Infrastructure'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
MAKX	1.57	(0.19)	0.00	(0.03)	0.00	0.00	3.33	(3.36)	9.06
SJCP	0.09	0.01	(0.25)	0.19	0.00	(0.12)	0.24	(0.20)	1.20
FTIF	0.78	0.01	0.01	0.06	1.10	(0.75)	1.96	(1.80)	4.17
HFEQ	1.15	(0.05)	0.00	0.03	1.88	(1.00)	2.31	(2.82)	7.47
CARD	3.85	0.20	0.00	0.02	0.00	0.00	7.58	(6.45)	23.68
FCFY	0.77	(0.03)	(0.02)	0.03	1.05	(0.75)	1.45	(1.44)	4.46
NDAA	0.53	(0.04)	(0.07)	0.00	0.79	(0.53)	1.01	(1.21)	2.88
OOQB	2.96	(0.48)	0.00	(0.12)	0.00	0.00	5.55	(6.25)	15.34
BENJ	0.01	0.00	0.00	0.00	0.00	0.00	0.04	(0.02)	0.08
DRES	0.81	0.01	0.02	0.07	0.99	(0.86)	2.07	(1.95)	4.40

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