Themes Cybersecurity Correlations

SPAM Etf

31.54 0.21 0.67%

The current 90-days correlation between Themes Cybersecurity ETF and Global X Funds is 0.72 (i.e., Poor 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 0.56 (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

0.91	CIBR	First Trust NASDAQ	Pair Corr
0.93	IGV	iShares Expanded Tech	Pair Corr
0.88	FDN	First Trust Dow	Pair Corr
0.63	PTIR	GraniteShares 2x Long	Pair Corr
0.62	PLTU	Direxion Daily PLTR	Pair Corr
0.81	HPQ	HP Inc	Pair Corr
0.75	BA	Boeing	Pair Corr
0.8	HD	Home Depot	Pair Corr

Moving against Themes Etf

0.69	AGQ	ProShares Ultra Silver	Pair Corr
0.55	GDMN	WisdomTree Efficient Gold Low Volatility	Pair Corr
0.54	MUU	Direxion Daily MU Buyout Trend	Pair Corr
0.53	MULL	GraniteShares 2x Long	Pair Corr
0.35	NUGT	Direxion Daily Gold	Pair Corr
0.33	KORU	Direxion Daily South	Pair Corr
0.84	CSCO	Cisco Systems	Pair Corr
0.8	JNJ	Johnson Johnson	Pair Corr
0.78	KO	Coca Cola	Pair Corr
0.69	TRV	The Travelers Companies	Pair Corr
0.69	XOM	Exxon Mobil Corp	Pair Corr
0.67	MCD	McDonalds	Pair Corr
0.64	AA	Alcoa Corp	Pair Corr
0.62	WMT	Walmart Common Stock	Pair Corr
0.59	BAC	Bank of America	Pair Corr
0.47	IBM	International Business	Pair Corr

Related Correlations Analysis

	EGLE	MDEV	XTR	DESK	FGSI	ARVR	WDNA	BWET	PEVC	XXCH
EGLE		0.34	0.73	0.22	0.77	0.71	0.33	-0.17	0.93	-0.03	EGLE
MDEV	0.34		0.64	-0.52	-0.08	-0.19	0.65	0.67	0.37	0.63	MDEV
XTR	0.73	0.64		-0.27	0.33	0.29	0.51	0.32	0.83	0.47	XTR
DESK	0.22	-0.52	-0.27		0.61	0.62	-0.52	-0.86	0.19	-0.83	DESK
FGSI	0.77	-0.08	0.33	0.61		0.88	0.14	-0.59	0.72	-0.45	FGSI
ARVR	0.71	-0.19	0.29	0.62	0.88		0.1	-0.72	0.66	-0.59	ARVR
WDNA	0.33	0.65	0.51	-0.52	0.14	0.1		0.4	0.3	0.4	WDNA
BWET	-0.17	0.67	0.32	-0.86	-0.59	-0.72	0.4		-0.09	0.9	BWET
PEVC	0.93	0.37	0.83	0.19	0.72	0.66	0.3	-0.09		0.05	PEVC
XXCH	-0.03	0.63	0.47	-0.83	-0.45	-0.59	0.4	0.9	0.05		XXCH
	EGLE	MDEV	XTR	DESK	FGSI	ARVR	WDNA	BWET	PEVC	XXCH

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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

PEVC	+ 0.93	EGLE
XXCH	+ 0.9	BWET
ARVR	+ 0.88	FGSI
PEVC	+ 0.83	XTR
FGSI	+ 0.77	EGLE
XTR	+ 0.73	EGLE

High negative correlations

BWET	- 0.86	DESK
XXCH	- 0.83	DESK
BWET	- 0.72	ARVR
XXCH	- 0.59	ARVR
BWET	- 0.59	FGSI
WDNA	- 0.52	DESK

Themes Cybersecurity Constituents 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
EGLE	0.52	(0.04)	(0.07)	0.00	0.76	(0.47)	0.87	(1.07)	2.72
MDEV	0.74	0.00	(0.01)	0.06	0.88	(0.76)	1.45	(1.36)	4.31
XTR	0.58	(0.01)	(0.03)	0.04	0.89	(0.51)	1.23	(1.29)	3.99
DESK	0.93	(0.24)	0.00	(0.24)	0.00	0.00	1.78	(2.48)	6.66
FGSI	0.54	(0.06)	0.00	(0.02)	0.00	0.00	0.99	(1.29)	3.09
ARVR	0.93	(0.11)	0.00	(0.03)	0.00	0.00	1.68	(2.25)	5.99
WDNA	1.42	0.19	0.12	0.20	1.40	(1.56)	3.64	(2.13)	7.79
BWET	2.50	0.76	0.25	(1.09)	2.19	(3.08)	7.55	(4.33)	13.16
PEVC	0.87	(0.08)	(0.05)	0.00	1.24	(0.82)	1.56	(1.75)	4.70
XXCH	1.28	0.33	0.12	(0.72)	1.34	(1.82)	3.74	(2.58)	10.46

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