Themes Transatlantic Correlations

NATO Etf

31.64 0.31 0.99%

The current 90-days correlation between Themes Transatlantic and American Beacon Select is 0.76 (i.e., Poor diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Themes Transatlantic moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Themes Transatlantic Defense moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Themes Transatlantic Correlation With Market

Poor diversification

The correlation between Themes Transatlantic Defense and DJI is 0.75 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Themes Transatlantic Defense and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Themes Etf

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

Moving together with Themes Etf

0.74	DRVN	Driven Brands Holdings	Pair Corr
0.67	PPA	Invesco Aerospace Defense	Pair Corr
0.65	SHNY	Microsectors Gold	Pair Corr
0.68	T	ATT Inc	Pair Corr

Moving against Themes Etf

0.45	ARKC	ARK 21Shares Active	Pair Corr
0.45	AA	Alcoa Corp	Pair Corr
0.4	JETS	US Global Jets	Pair Corr
0.37	IYT	iShares Transportation Low Volatility	Pair Corr
0.37	DD	Dupont De Nemours	Pair Corr
0.32	FXR	First Trust Industri	Pair Corr
0.46	HPQ	HP Inc	Pair Corr

Related Correlations Analysis

	MGNR	MISL	DUSL	DUST	ECON	NAIL	NANR	NFRA
MGNR		0.48	0.75	0.19	0.71	0.61	0.88	0.16	MGNR
MISL	0.48		0.15	-0.54	0.55	-0.17	0.36	0.8	MISL
DUSL	0.75	0.15		0.62	0.62	0.88	0.71	-0.11	DUSL
DUST	0.19	-0.54	0.62		0.04	0.81	0.18	-0.74	DUST
ECON	0.71	0.55	0.62	0.04		0.33	0.8	0.52	ECON
NAIL	0.61	-0.17	0.88	0.81	0.33		0.54	-0.48	NAIL
NANR	0.88	0.36	0.71	0.18	0.8	0.54		0.23	NANR
NFRA	0.16	0.8	-0.11	-0.74	0.52	-0.48	0.23		NFRA
	MGNR	MISL	DUSL	DUST	ECON	NAIL	NANR	NFRA

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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

NANR	+ 0.88	MGNR
NAIL	+ 0.88	DUSL
NAIL	+ 0.81	DUST
NFRA	+ 0.8	MISL
NANR	+ 0.8	ECON
DUSL	+ 0.75	MGNR

High negative correlations

NFRA	- 0.74	DUST
DUST	- 0.54	MISL
NFRA	- 0.48	NAIL
NAIL	- 0.17	MISL
NFRA	- 0.11	DUSL

Themes Transatlantic Constituents Risk-Adjusted Indicators

There is a big difference between Themes Etf performing well and Themes Transatlantic 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 Transatlantic'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
MGNR	1.65	0.06	0.00	(0.03)	0.00	0.00	3.06	(3.86)	14.26
MISL	1.22	0.18	0.10	0.11	1.67	(1.26)	2.29	(2.20)	10.82
DUSL	3.61	(0.04)	0.00	0.14	0.00	0.00	5.43	(6.93)	35.80
DUST	3.84	(0.48)	0.00	0.50	0.00	0.00	6.93	(8.19)	34.21
ECON	1.10	0.16	0.10	0.14	1.55	(1.12)	2.95	(2.10)	8.86
NAIL	4.35	(0.68)	0.00	1.02	0.00	0.00	8.68	(9.24)	27.93
NANR	1.25	0.09	0.04	0.01	2.08	(1.24)	2.09	(2.89)	11.87
NFRA	0.71	0.12	0.14	0.17	1.03	(0.78)	1.56	(1.14)	6.63

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