WisdomTree Yield Correlations

AGGY Etf

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The current 90-days correlation between WisdomTree Yield Enhanced and iShares Agency Bond is 0.66 (i.e., Poor diversification). The correlation of WisdomTree Yield 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.

WisdomTree Yield Correlation With Market

Poor diversification

The correlation between WisdomTree Yield Enhanced and DJI is 0.67 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding WisdomTree Yield Enhanced and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with WisdomTree Etf

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in WisdomTree Yield Enhanced. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in price.

Moving together with WisdomTree Etf

0.98	BND	Vanguard Total Bond	Pair Corr
0.98	AGG	iShares Core Aggregate	Pair Corr
0.9	BIV	Vanguard Intermediate Sell-off Trend	Pair Corr
0.98	SPAB	SPDR Portfolio Aggregate	Pair Corr
0.98	EAGG	iShares ESG Aggregate	Pair Corr
0.97	FLCB	Franklin Templeton ETF	Pair Corr
0.98	UITB	VictoryShares USAA Core	Pair Corr
0.98	DFCF	Dimensional ETF Trust	Pair Corr
0.98	JAGG	JPMorgan BetaBuilders	Pair Corr
0.71	SIXD	AIM ETF Products	Pair Corr
0.64	RDIV	Invesco SP Ultra	Pair Corr
0.72	GAPR	First Trust Exchange	Pair Corr
0.78	AHYB	American Century ETF	Pair Corr
0.61	SEIX	Virtus ETF Trust	Pair Corr
0.71	MART	Allianzim Large Cap	Pair Corr
0.7	OASC	OneAscent Small Cap	Pair Corr
0.63	VBK	Vanguard Small Cap	Pair Corr
0.79	BINC	BlackRock ETF Trust	Pair Corr
0.65	JNJ	Johnson Johnson	Pair Corr
0.78	MRK	Merck Company Aggressive Push	Pair Corr
0.67	AA	Alcoa Corp	Pair Corr

Moving against WisdomTree Etf

0.66	VXX	iPath Series B Downward Rally	Pair Corr
0.66	VIXY	ProShares VIX Short Downward Rally	Pair Corr
0.63	VIXM	ProShares VIX Mid	Pair Corr
0.62	VXZ	iPath Series B	Pair Corr
0.45	YCL	ProShares Ultra Yen	Pair Corr
0.37	FXY	Invesco CurrencyShares	Pair Corr
0.55	HPQ	HP Inc	Pair Corr

Related Correlations Analysis

	SHAG	SPLB	VGCIX	JCPI	IBTJ	PCRB	IBDY	ILTB	BSCX	AGZ
SHAG		0.36	0.91	0.4	0.92	0.84	0.92	-0.1	0.92	0.92	SHAG
SPLB	0.36		0.62	0.57	0.36	0.69	0.57	0.82	0.6	0.42	SPLB
VGCIX	0.91	0.62		0.51	0.79	0.86	0.87	0.19	0.89	0.82	VGCIX
JCPI	0.4	0.57	0.51		0.45	0.46	0.38	0.48	0.42	0.37	JCPI
IBTJ	0.92	0.36	0.79	0.45		0.87	0.92	0.0	0.92	0.92	IBTJ
PCRB	0.84	0.69	0.86	0.46	0.87		0.94	0.36	0.94	0.87	PCRB
IBDY	0.92	0.57	0.87	0.38	0.92	0.94		0.12	0.99	0.92	IBDY
ILTB	-0.1	0.82	0.19	0.48	0.0	0.36	0.12		0.16	0.04	ILTB
BSCX	0.92	0.6	0.89	0.42	0.92	0.94	0.99	0.16		0.91	BSCX
AGZ	0.92	0.42	0.82	0.37	0.92	0.87	0.92	0.04	0.91		AGZ
	SHAG	SPLB	VGCIX	JCPI	IBTJ	PCRB	IBDY	ILTB	BSCX	AGZ

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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

BSCX	+ 0.99	IBDY
IBDY	+ 0.94	PCRB
BSCX	+ 0.94	PCRB
IBTJ	+ 0.92	SHAG
IBDY	+ 0.92	SHAG
BSCX	+ 0.92	SHAG

High negative correlations

ILTB	- 0.1	SHAG
ILTB	- 0.0	IBTJ

WisdomTree Yield Constituents Risk-Adjusted Indicators

There is a big difference between WisdomTree Etf performing well and WisdomTree Yield 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 WisdomTree Yield'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
SHAG	0.06	0.01	(1.07)	2.25	0.00	(0.08)	0.13	(0.08)	0.27
SPLB	0.32	(0.01)	(0.18)	0.02	0.39	(0.35)	0.71	(0.79)	1.77
VGCIX	0.12	0.00	(0.39)	0.17	0.00	(0.16)	0.21	(0.21)	0.62
JCPI	0.11	(0.01)	(0.52)	(0.09)	0.12	(0.12)	0.23	(0.23)	0.77
IBTJ	0.09	0.00	(0.72)	0.00	0.00	(0.11)	0.18	(0.14)	0.51
PCRB	0.14	0.00	(0.44)	0.09	0.11	(0.16)	0.31	(0.29)	0.75
IBDY	0.15	0.01	(0.33)	0.22	0.07	(0.18)	0.42	(0.31)	0.96
ILTB	0.32	(0.02)	0.00	(0.07)	0.00	0.00	0.66	(0.64)	1.73
BSCX	0.16	0.01	(0.35)	0.22	0.06	(0.20)	0.42	(0.28)	0.85
AGZ	0.10	0.01	(0.47)	(0.24)	0.09	(0.10)	0.25	(0.25)	0.75

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