Correlation Between Amplify Alternative and Themes China
Can any of the company-specific risk be diversified away by investing in both Amplify Alternative and Themes China at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining Amplify Alternative and Themes China into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Amplify Alternative Harvest and Themes China Generative, you can compare the effects of market volatilities on Amplify Alternative and Themes China and check how they will diversify away market risk if combined in the same portfolio for a given time horizon. You can also utilize pair trading strategies of matching a long position in Amplify Alternative with a short position of Themes China. Check out your portfolio center. Please also check ongoing floating volatility patterns of Amplify Alternative and Themes China.
Diversification Opportunities for Amplify Alternative and Themes China
0.45 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Amplify and Themes is 0.45. Overlapping area represents the amount of risk that can be diversified away by holding Amplify Alternative Harvest and Themes China Generative in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Themes China Generative and Amplify Alternative is a relative statistical measure of the degree to which these equity instruments tend to move together. The correlation coefficient measures the extent to which returns on Amplify Alternative Harvest are associated (or correlated) with Themes China. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Themes China Generative has no effect on the direction of Amplify Alternative i.e., Amplify Alternative and Themes China go up and down completely randomly.
Pair Corralation between Amplify Alternative and Themes China
Allowing for the 90-day total investment horizon Amplify Alternative Harvest is expected to under-perform the Themes China. In addition to that, Amplify Alternative is 1.98 times more volatile than Themes China Generative. It trades about -0.09 of its total potential returns per unit of risk. Themes China Generative is currently generating about 0.02 per unit of volatility. If you would invest 3,207 in Themes China Generative on August 26, 2025 and sell it today you would earn a total of 25.00 from holding Themes China Generative or generate 0.78% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Amplify Alternative Harvest vs. Themes China Generative
Performance |
| Timeline |
| Amplify Alternative |
| Themes China Generative |
Amplify Alternative and Themes China Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Amplify Alternative and Themes China
The main advantage of trading using opposite Amplify Alternative and Themes China positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Amplify Alternative position performs unexpectedly, Themes China can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Themes China will offset losses from the drop in Themes China's long position.| Amplify Alternative vs. FT Vest Equity | Amplify Alternative vs. Zillow Group Class | Amplify Alternative vs. Northern Lights | Amplify Alternative vs. VanEck Vectors Moodys |
| Themes China vs. Strategy Shares | Themes China vs. Freedom Day Dividend | Themes China vs. Franklin Templeton ETF | Themes China vs. iShares MSCI China |
Check out your portfolio center.Note that this page's information should be used as a complementary analysis to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Earnings Calls module to check upcoming earnings announcements updated hourly across public exchanges.
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