WisdomTree Global Correlations

DEW Etf

USD 62.48 0.23 0.37%

The current 90-days correlation between WisdomTree Global High and iShares Oil Equipment is -0.01 (i.e., Good diversification). The correlation of WisdomTree Global 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 Global Correlation With Market

Poor diversification

The correlation between WisdomTree Global High and DJI is 0.72 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding WisdomTree Global High and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with WisdomTree Etf

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in WisdomTree Global High. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in consumer price index.

Moving together with WisdomTree Etf

0.63	GCOW	Pacer Global Cash	Pair Corr
0.7	WDIV	SPDR SP Global	Pair Corr
0.75	DGT	SPDR Global Dow	Pair Corr
0.8	WLDR	Affinity World Leaders	Pair Corr
0.96	HERD	Pacer Cash Cows	Pair Corr
0.89	FPAG	Northern Lights	Pair Corr
0.73	DIVD	Altrius Global Dividend	Pair Corr
0.61	GDXU	MicroSectors Gold Miners	Pair Corr
0.67	AGQ	ProShares Ultra Silver	Pair Corr
0.77	PSFO	Pacer Funds Trust	Pair Corr
0.78	ESGD	iShares ESG Aware	Pair Corr
0.88	XDEC	First Trust Exchange	Pair Corr
0.81	DMX	DoubleLine ETF Trust	Pair Corr
0.67	LOCT	Innovator Premium Income	Pair Corr
0.79	FLEE	Franklin FTSE Europe	Pair Corr
0.76	VTV	Vanguard Value Index	Pair Corr
0.88	PDN	Invesco FTSE RAFI	Pair Corr
0.63	COPY	RBB Fund	Pair Corr

Related Correlations Analysis

	IEZ	ECNS	ECOW	EWO	EMXF	MBOX	FID	PIE	FAB	IDNA
IEZ		-0.64	0.82	0.59	0.62	0.23	0.66	0.22	0.47	0.68	IEZ
ECNS	-0.64		-0.56	-0.58	-0.41	0.12	-0.69	0.25	-0.28	-0.73	ECNS
ECOW	0.82	-0.56		0.61	0.6	0.23	0.75	0.45	0.42	0.7	ECOW
EWO	0.59	-0.58	0.61		0.25	0.62	0.87	0.44	0.87	0.71	EWO
EMXF	0.62	-0.41	0.6	0.25		0.04	0.37	0.16	0.17	0.34	EMXF
MBOX	0.23	0.12	0.23	0.62	0.04		0.48	0.58	0.88	0.28	MBOX
FID	0.66	-0.69	0.75	0.87	0.37	0.48		0.33	0.72	0.85	FID
PIE	0.22	0.25	0.45	0.44	0.16	0.58	0.33		0.49	0.18	PIE
FAB	0.47	-0.28	0.42	0.87	0.17	0.88	0.72	0.49		0.5	FAB
IDNA	0.68	-0.73	0.7	0.71	0.34	0.28	0.85	0.18	0.5		IDNA
	IEZ	ECNS	ECOW	EWO	EMXF	MBOX	FID	PIE	FAB	IDNA

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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

FAB	+ 0.88	MBOX
FID	+ 0.87	EWO
FAB	+ 0.87	EWO
IDNA	+ 0.85	FID
ECOW	+ 0.82	IEZ
FID	+ 0.75	ECOW

High negative correlations

IDNA	- 0.73	ECNS
FID	- 0.69	ECNS
ECNS	- 0.64	IEZ
EWO	- 0.58	ECNS
ECOW	- 0.56	ECNS
EMXF	- 0.41	ECNS

WisdomTree Global Constituents Risk-Adjusted Indicators

There is a big difference between WisdomTree Etf performing well and WisdomTree Global 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 Global'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
IEZ	1.35	0.09	0.00	(0.35)	1.89	(1.35)	2.27	(3.17)	9.31
ECNS	0.95	(0.21)	0.00	(0.15)	0.00	0.00	2.05	(2.12)	8.55
ECOW	0.61	0.02	0.00	0.10	0.85	(0.58)	1.12	(1.53)	4.40
EWO	0.71	0.15	0.14	0.27	0.61	(0.80)	1.38	(1.26)	4.59
EMXF	0.63	0.09	0.02	(1.42)	0.85	(0.60)	1.38	(1.26)	4.04
MBOX	0.55	(0.04)	(0.07)	0.02	0.71	(0.55)	0.97	(1.05)	2.96
FID	0.36	0.07	0.06	0.26	0.25	(0.40)	0.83	(0.70)	1.80
PIE	0.84	(0.03)	(0.02)	0.04	1.23	(0.91)	1.63	(1.81)	6.59
FAB	0.67	(0.01)	(0.02)	0.06	0.83	(0.70)	1.38	(1.30)	3.59
IDNA	1.19	0.20	0.16	0.24	1.04	(1.42)	2.62	(1.76)	6.48

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