Docs
Everything you can see on THEMES, how each number is worked out, and what it will not do for you.
Why ideas, not tickers
Most people do not buy a stock for the company alone. They buy an idea: AI, weight loss drugs, nuclear power, crypto. The trouble is that one ticker is a noisy way to hold an idea. A single earnings miss can sink it while the idea itself does fine.
THEMES groups tokenized stocks into ten ideas and turns each group into an index. You can see how the whole idea did, compare it with the S&P 500, and find out which members did the work and which held it back.
Finding your way around
Open the explorer and pick a theme. You will see four things.
- The summary
- The index level today and the return over one week, one month, three months, the year to date and one year. Copy the basket puts the member list on your clipboard.
- The chart
- The theme as a solid line and the S&P 500 (SPY) as a dashed line, both starting at 100 on the first day of the period you pick. The sentence above it says how far ahead or behind the market the theme is.
- The member panel
- Click a member in the table. The panel shows its own line against the theme, its return, the weight it held when the period began, and its contribution: how many points of the theme's return came from it.
- The table
- Every member with its price, return, weight today and contribution, biggest contributor first. The bar shows the size of each contribution, green when it added and red when it took away.
How an idea becomes a line
Curious how it works? Four steps, and you could redo every one of them in a spreadsheet.
One year of daily closing prices for every member and for SPY, on the same trading days.
One year ago each member gets the same share of its theme. After that the shares are left alone, so a member that rises takes up more of the theme and one that falls takes up less. There is no rebalancing.
Divide each member's close by its close one year ago, take the average, multiply by 100. That is the index level. It starts at 100, and 150 means the theme is up 50%.
A member's contribution over a period is its weight at the start of the period times its return. Contributions of all members add up exactly to the theme's return, which is why they are shown in points.
Periods: one week is 5 trading days, one month 21, three months 63, the year to date starts from the last close of the previous year, and one year is the whole window. Returns on the chart and in the table are measured from the first day of the period you pick.
The ten ideas
Every theme is built only from stocks that exist as tokens, five or six names each. A stock can appear in one theme only, so no single name counts twice.
Where the numbers come from
Every price you see is the closing price of the US listing behind a token. We fetch them from a public market data feed once the US market has closed, and the explorer always tells you which close it is showing. Closes are adjusted for splits but not for dividends, so themes that pay high dividends, like big banks, look slightly worse than a total return index would.
The themes are editorial choices, not official indices. A different list of names would give a different line. Past returns say nothing about future ones, and a theme that led last year can lag the next.
Where $THEME fits in
$THEME is a memecoin on pons.family, a little flag for the idea behind this site: buy the idea, not just the ticker. You will never need it to use THEMES. Every theme, chart and page here is open to you with or without it, and holding it earns you nothing: no rewards, no interest, no share of any income. The contract address goes out from the project account on launch day.
A friendly warning
THEMES helps you look at ideas. It does not tell you what to buy or sell, and nothing here is investment advice or an offer of any security or token. Tokenized stocks and memecoins can lose all of their value, so please make your own decisions and only with money you can afford to lose.