Themes Small Correlations

Etfs . USA . 
Etf . Themes Small Cap
SMCF Etf   31.52  0.15  0.47%   
The current 90-days correlation between Themes Small Cap and Dimensional ETF Trust is -0.09 (i.e., Good diversification). The correlation of Themes Small 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.

Themes Small Correlation With Market

Poor diversification

The correlation between Themes Small Cap and DJI is 0.74 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Themes Small Cap 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 Small Cap. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in main economic indicators.

Moving together with Themes Etf

  0.99VBR Vanguard Small CapPairCorr
  1.0IWN iShares Russell 2000PairCorr
  0.99IJJ iShares SP MidPairCorr
  0.99DFAT Dimensional TargetedPairCorr
  0.99IJS iShares SP SmallPairCorr
  0.99SLYV SPDR SP 600PairCorr
  0.99AVUV Avantis Small CapPairCorr
  0.99MDYV SPDR SP 400PairCorr
  0.97CALF Pacer Small CapPairCorr
  0.72UPRO ProShares UltraPro SP500PairCorr
  0.95QTJA Innovator ETFs TrustPairCorr
  0.71QTOC Innovator ETFs TrustPairCorr
  0.95XTOC Innovator ETFs TrustPairCorr
  0.94QTAP Innovator Growth 100PairCorr
  0.96XTJA Innovator ETFs TrustPairCorr
  0.95XTAP Innovator Equity AccPairCorr
  0.62VBF Invesco Van KampenPairCorr
  0.74NFLX Netflix Downward RallyPairCorr
  0.72CGGO Capital Group GlobalPairCorr
  0.72BUFD FT Cboe VestPairCorr
  0.63SPIB SPDR Barclays IntermPairCorr
  0.7PFUT Putnam Sustainable FuturePairCorr
  0.64VABS Virtus Newfleet ABSMBSPairCorr
  0.71SRLN SPDR Blackstone SeniorPairCorr

Related Correlations Analysis

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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   
VIOO
+ 1.0
VIOG
VIOV
+ 0.99
VB
DWAS
+ 0.99
MMSC
VTWG
+ 0.99
MMSC
VTWG
+ 0.99
VIOG
VTWG
+ 0.99
VIOO
  
High negative correlations   
RB
- 0.5
DISV
VIOV
- 0.49
RB
VB
- 0.45
RB
MMSC
- 0.43
RB
VIOO
- 0.42
RB
VTWG
- 0.41
RB

Themes Small Constituents Risk-Adjusted Indicators

There is a big difference between Themes Etf performing well and Themes Small 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 Small'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.

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