GSIB Themes ETF Trust Themes Global Systemically Important Banks ETF

Last close: 60.07
504-day return: +92.47%
Median $/day: $279k
Relationships shown: 13

together opposite · bar = ρ at each lag, −10 … 0 … +10 days · holdout ρ · click a card for the full picture

GSIB vs BCS

Both indexed to 100 at 2026-05-11.

GSIB BCS · range 95–123 · 2026-05-11 → 2026-11-06

Moves with GSIB

Same day, ranked by what's left after the market and sector factors are removed ("beyond mkt").

BCS Barclays PLC

ρ +0.83beyond mkt +0.58holdout +0.87stable 100%robust

EUFN iShares MSCI Europe Financials ETF

ρ +0.84beyond mkt +0.57holdout +0.89stable 100%robust

DB Deutsche Bank Aktiengesellschaft

ρ +0.79beyond mkt +0.54holdout +0.86stable 100%robust

HSBC HSBC Holdings PLC

ρ +0.77beyond mkt +0.50holdout +0.80stable 100%robust

MS Morgan Stanley

ρ +0.73beyond mkt +0.49holdout +0.75stable 100%robust

SAN Banco Santander S.A.

ρ +0.76beyond mkt +0.48holdout +0.80stable 100%robust

Moves against GSIB

VXX iPath Series B S&P 500 VIX Short-Term Futures ETN

ρ -0.62beyond mkt -0.09holdout -0.62stable 100%robust

BTAL AGF U.S. Market Neutral Anti-Beta Fund

ρ -0.50beyond mkt -0.08holdout -0.50stable 100%robust

VIXM ProShares VIX Mid-Term Futures ETF

ρ -0.54beyond mkt -0.07holdout -0.53stable 100%robust

TAIL Cambria Tail Risk ETF

ρ -0.48beyond mkt -0.05holdout -0.34stable 100%robust

Weekly, not daily

No day-to-day relationship, but 5- or 10-day returns move together.

CHTR Charter Communications, Inc. Class A Common Stock New

horizon 10dρ +0.42holdout +0.41stable 50%moderate

HRMY Harmony Biosciences Holdings, Inc. Common Stock

horizon 10dρ +0.39holdout +0.40stable 62%moderate

RMBI Richmond Mutual Bancorporation, Inc. Common Stock

horizon 10dρ +0.36holdout +0.32stable 62%moderate

Changed this quarter

Biggest shifts in same-day correlation over the last 63 trading days versus the year before.

BWMN Bowman Consulting Group Ltd. Common Stock

Δ -0.67recent -0.24prior +0.43beyond mkt -0.01

LAUR Laureate Education, Inc. Common Stock

Δ -0.55recent -0.22prior +0.33beyond mkt -0.04

HZO MarineMax, Inc.

Δ -0.54recent -0.12prior +0.42beyond mkt -0.01

BTA Beacon Tactical Alternatives Risk ETF

Δ -0.54recent -0.40prior +0.13beyond mkt +0.02

ORKT Orangekloud Technology Inc. Class A Ordinary Shares

Δ -0.51recent -0.31prior +0.20beyond mkt +0.05

DOW Dow Inc.

Δ -0.51recent -0.32prior +0.18beyond mkt +0.05

Hidden links

Strong beyond-the-market co-movement with few shared neighbours.

Symbol	beyond mkt	raw ρ	shared
EUFN iShares MSCI Europe Financials ETF	+0.57	+0.84	8
DFIV Dimensional International Value ETF	+0.42	+0.78	2
MUFG Mitsubishi UFJ Financial Group, Inc.	+0.43	+0.66	4
DB Deutsche Bank Aktiengesellschaft	+0.54	+0.79	10
SAN Banco Santander S.A.	+0.48	+0.76	10
BBVA Banco Bilbao Vizcaya Argentaria, S.A.	+0.44	+0.71	8