WisdomTree Cocoa Correlations

Etfs UK . 
Etf . WisdomTree Cocoa
COCO Etf   5.34  0.14  2.69%   
The current 90-days correlation between WisdomTree Cocoa and WisdomTree Battery Solutions is -0.11 (i.e., Good diversification). The correlation of WisdomTree Cocoa 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 Cocoa Correlation With Market

Excellent diversification

The correlation between WisdomTree Cocoa and DJI is -0.51 (i.e., Excellent diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding WisdomTree Cocoa and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to WisdomTree Cocoa could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace WisdomTree Cocoa when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back WisdomTree Cocoa - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling WisdomTree Cocoa to buy it.

Moving together with WisdomTree Etf

  0.923PLT Leverage Shares 3xPairCorr
  0.92PAL3 GraniteShares 3x LongPairCorr

Moving against WisdomTree Etf

  0.93FVUB Franklin FTSE BrazilPairCorr
  0.93FLXE Franklin LibertyQPairCorr
  0.91FLXB Franklin FTSE BrazilPairCorr
  0.88MAGI SSgA SPDR ETFsPairCorr
  0.84IDJP iShares MSCI JapanPairCorr
  0.76CLMU Lyxor Green BondPairCorr
  0.76IWVL iShares Edge MSCIPairCorr
  0.752MU Leverage Shares 2xPairCorr
  0.73XMCX Xtrackers FTSE 250PairCorr
  0.72TSM3 Leverage Shares 3xPairCorr
  0.72AASG Amundi Index SolutionsPairCorr
  0.72BBIL JPM BetaBuilders TreasuryPairCorr
  0.71ESGE Invesco MSCI EuropePairCorr
  0.7UC85 UBS Barclays LiquidPairCorr
  0.7COPG Global X CopperPairCorr
  0.68URND Global X UraniumPairCorr
  0.59ACWL Multi Units LuxembourgPairCorr
  0.463LRR GraniteShares 3x LongPairCorr
  0.37XDAX Xtrackers DAX UCITSPairCorr
  0.34JPGB WisdomTree Short JPYPairCorr
  0.93RIOL Lyxor UCITS BrazilPairCorr
  0.91SXLE SPDR SP EnergyPairCorr
  0.87EMAS SSgA SPDR ETFsPairCorr
  0.85ISJP iShares MSCI JapanPairCorr
  0.84XCX3 Xtrackers MSCI MalaysiaPairCorr
  0.82XMMD Xtrackers MSCIPairCorr
  0.82PAVE Global X InfrastructurePairCorr
  0.81GCLE Invesco Markets IIPairCorr
  0.78CORP iShares Global CorpPairCorr
  0.76XGBB Xtrackers USD CorporatePairCorr
  0.74QUID PIMCO Sterling ShortPairCorr
  0.73MACG BlackRock ESG MultiPairCorr

Related Correlations Analysis


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

XOM
+ 0.88
MRK
CRM
+ 0.87
MSFT
UBER
+ 0.82
MSFT
A
+ 0.82
UBER
A
+ 0.76
MSFT
MRK
+ 0.75
F
  

High negative correlations

XOM
- 0.93
MSFT
MRK
- 0.88
MSFT
XOM
- 0.85
CRM
XOM
- 0.81
A
CRM
- 0.81
T
XOM
- 0.8
UBER

WisdomTree Cocoa Competition Risk-Adjusted Indicators

There is a big difference between WisdomTree Etf performing well and WisdomTree Cocoa 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 Cocoa'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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
META  1.50  0.07  0.03  0.16  1.44 
(1.78)
 3.43 
(2.60)
 13.69 
MSFT  1.29 (0.39) 0.00 (1.03) 0.00 
 0.00 
 1.90 
(2.74)
 13.28 
UBER  1.56 (0.35) 0.00 (0.63) 0.00 
 0.00 
 2.46 
(3.82)
 11.09 
F  1.22  0.05  0.03  0.13  1.21 
(1.46)
 3.34 
(2.30)
 7.16 
T  1.00  0.15  0.07 (19.14) 0.94 
(1.16)
 3.87 
(1.76)
 7.44 
A  1.26 (0.35) 0.00 (0.21) 0.00 
 0.00 
 2.90 
(2.72)
 7.85 
CRM  1.69 (0.47) 0.00 (0.39) 0.00 
 0.00 
 2.94 
(4.75)
 12.37 
JPM  1.20 (0.06)(0.02) 0.03  1.61 
(1.29)
 2.34 
(2.63)
 7.38 
MRK  1.27  0.38  0.26  0.64  0.97 
(1.50)
 2.93 
(1.98)
 8.74 
XOM  1.29  0.31  0.18  1.25  1.17 
(1.46)
 2.90 
(2.44)
 6.83 

Be your own money manager

Our tools can tell you how much better you can do entering a position in WisdomTree Cocoa without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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