Tema ETF Correlations

LUX Etf

21.13 0.02 0.09%

The current 90-days correlation between Tema ETF Trust and Smith Nephew SNATS is 0.05 (i.e., Significant diversification). The correlation of Tema ETF 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.

Tema ETF Correlation With Market

Good diversification

The correlation between Tema ETF Trust and DJI is -0.07 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Tema ETF Trust and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Tema Etf

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Tema ETF Trust. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in employment.

Moving together with Tema Etf

0.9	XLY	Consumer Discretionary	Pair Corr
0.89	VCR	Vanguard Consumer	Pair Corr
0.86	ITB	iShares Home Construction	Pair Corr
0.87	FDIS	Fidelity MSCI Consumer	Pair Corr
0.89	XHB	SPDR SP Homebuilders	Pair Corr
0.83	IYC	iShares Consumer Dis	Pair Corr
0.93	PEJ	Invesco Dynamic Leisure	Pair Corr
0.93	FXD	First Trust Consumer	Pair Corr
0.87	XRT	SPDR SP Retail	Pair Corr
0.89	SIXD	AIM ETF Products	Pair Corr
0.91	PFFL	ETRACS 2xMonthly Pay	Pair Corr
0.89	CEFD	ETRACS Monthly Pay	Pair Corr

Moving against Tema Etf

0.71	YCL	ProShares Ultra Yen	Pair Corr
0.65	FXY	Invesco CurrencyShares Potential Growth	Pair Corr
0.64	ULE	ProShares Ultra Euro	Pair Corr
0.87	XTWO	Bondbloxx ETF Trust	Pair Corr
0.85	STIP	iShares 0 5	Pair Corr
0.83	STPZ	PIMCO 1 5	Pair Corr
0.76	IBIG	iShares Trust	Pair Corr
0.76	IAU	iShares Gold Trust	Pair Corr
0.75	IAUM	iShares Gold Trust	Pair Corr
0.75	GLDM	SPDR Gold MiniShares	Pair Corr
0.72	BWX	SPDR Bloomberg Inter	Pair Corr
0.5	IDLV	Invesco SP International	Pair Corr
0.31	BND	Vanguard Total Bond	Pair Corr
0.73	ISHFF	iShares IV Public	Pair Corr
0.68	SLQD	iShares 0 5	Pair Corr
0.66	IBTP	iShares iBonds Dec	Pair Corr
0.61	SCHJ	Schwab 1 5	Pair Corr
0.53	SCHP	Schwab TIPS ETF	Pair Corr
0.41	SCHY	Schwab International	Pair Corr

Related Correlations Analysis

	SNN	FMS	FMX	COO	NTZ
SNN		0.12	0.26	-0.16	0.35	SNN
FMS	0.12		0.21	-0.02	-0.1	FMS
FMX	0.26	0.21		-0.65	-0.17	FMX
COO	-0.16	-0.02	-0.65		0.29	COO
NTZ	0.35	-0.1	-0.17	0.29		NTZ
	SNN	FMS	FMX	COO	NTZ

Click cells to compare fundamentals

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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

NTZ	+ 0.35	SNN
NTZ	+ 0.29	COO
FMX	+ 0.26	SNN
FMX	+ 0.21	FMS
FMS	+ 0.12	SNN

High negative correlations

COO	- 0.65	FMX
NTZ	- 0.17	FMX
COO	- 0.16	SNN
NTZ	- 0.1	FMS
COO	- 0.02	FMS

Tema ETF Constituents Risk-Adjusted Indicators

There is a big difference between Tema Etf performing well and Tema ETF 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 Tema ETF'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
SNN	1.42	0.29	0.17	0.34	1.87	(1.49)	3.19	(3.09)	12.80
FMS	1.54	0.10	0.07	0.04	2.29	(1.46)	3.76	(3.34)	10.59
FMX	1.32	0.35	0.32	(3.18)	1.29	(1.57)	2.62	(2.25)	9.99
COO	1.74	(0.11)	0.00	(0.25)	0.00	0.00	2.77	(5.63)	12.20
NTZ	2.71	(0.22)	0.00	0.44	0.00	0.00	11.40	(9.30)	20.70

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