Themes Cybersecurity Correlations

SPAM Etf

31.71 0.36 1.15%

The current 90-days correlation between Themes Cybersecurity ETF and Global X Funds is 0.07 (i.e., Significant diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Themes Cybersecurity moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Themes Cybersecurity ETF moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Themes Cybersecurity Correlation With Market

Very weak diversification

The correlation between Themes Cybersecurity ETF and DJI is 0.58 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Themes Cybersecurity ETF and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Themes Etf

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Themes Cybersecurity 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

0.72	VGT	Vanguard Information	Pair Corr
0.64	XLK	Technology Select Sector	Pair Corr
0.65	IYW	iShares Technology ETF	Pair Corr
0.93	CIBR	First Trust NASDAQ	Pair Corr
0.68	FTEC	Fidelity MSCI Information	Pair Corr
0.92	IGV	iShares Expanded Tech	Pair Corr
0.65	FDN	First Trust Dow	Pair Corr
0.67	IGM	iShares Expanded Tech	Pair Corr
0.7	UPRO	ProShares UltraPro SP500	Pair Corr
0.61	XTOC	Innovator ETFs Trust	Pair Corr
0.74	PPI	Investment Managers	Pair Corr
0.64	FELG	Fidelity Covington Trust	Pair Corr
0.63	WIA	Western AssetClaymore	Pair Corr
0.71	RFDA	RiverFront Dynamic	Pair Corr
0.64	JNK	SPDR Bloomberg High	Pair Corr
0.62	BJUN	Innovator SP 500	Pair Corr
0.82	GOP	Unusual Whales Subversive Symbol Change	Pair Corr
0.7	CNXT	VanEck ChiNext ETF	Pair Corr
0.81	MCHI	iShares MSCI China	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.38	0.55	-0.72	0.71	-0.71	0.34	-0.22	-0.72	-0.66	META
MSFT	0.38		0.65	0.09	-0.23	0.16	0.5	0.24	-0.23	-0.12	MSFT
UBER	0.55	0.65		-0.28	0.24	-0.39	0.34	0.37	-0.62	-0.34	UBER
F	-0.72	0.09	-0.28		-0.76	0.79	0.03	0.32	0.62	0.72	F
T	0.71	-0.23	0.24	-0.76		-0.92	-0.02	-0.24	-0.57	-0.51	T
A	-0.71	0.16	-0.39	0.79	-0.92		-0.03	0.21	0.69	0.55	A
CRM	0.34	0.5	0.34	0.03	-0.02	-0.03		-0.15	-0.38	-0.29	CRM
JPM	-0.22	0.24	0.37	0.32	-0.24	0.21	-0.15		-0.16	0.38	JPM
MRK	-0.72	-0.23	-0.62	0.62	-0.57	0.69	-0.38	-0.16		0.54	MRK
XOM	-0.66	-0.12	-0.34	0.72	-0.51	0.55	-0.29	0.38	0.54		XOM
	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM

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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

A	+ 0.79	F
XOM	+ 0.72	F
T	+ 0.71	META
MRK	+ 0.69	A
UBER	+ 0.65	MSFT
MRK	+ 0.62	F

High negative correlations

A	- 0.92	T
T	- 0.76	F
MRK	- 0.72	META
F	- 0.72	META
A	- 0.71	META
XOM	- 0.66	META

Themes Cybersecurity Competition Risk-Adjusted Indicators

There is a big difference between Themes Etf performing well and Themes Cybersecurity 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 Cybersecurity'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
META	1.24	(0.35)	0.00	(0.38)	0.00	0.00	1.87	(2.72)	13.52
MSFT	0.85	(0.13)	0.00	(0.14)	0.00	0.00	1.85	(2.19)	5.08
UBER	1.50	(0.21)	0.00	(0.15)	0.00	0.00	3.34	(3.30)	10.91
F	1.50	0.16	0.10	0.14	1.66	(1.72)	3.66	(2.35)	16.30
T	1.00	(0.19)	0.00	(0.78)	0.00	0.00	1.84	(2.32)	6.25
A	1.32	0.34	0.25	0.30	1.02	(1.50)	3.93	(2.15)	11.03
CRM	1.61	(0.15)	0.00	(0.10)	0.00	0.00	2.93	(3.61)	9.91
JPM	0.89	0.00	0.00	0.04	1.33	(0.82)	1.67	(1.91)	5.76
MRK	1.29	0.19	0.13	0.38	1.14	(1.67)	3.84	(2.36)	11.45
XOM	0.93	0.10	0.06	0.40	1.10	(0.90)	1.78	(1.93)	4.71

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