WisdomTree Europe Correlations

DFEA Etf

EUR 24.06 0.14 0.58%

The current 90-days correlation between WisdomTree Europe and UBSFund Solutions Bloomberg is 0.15 (i.e., Average diversification). The correlation of WisdomTree Europe 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 Europe Correlation With Market

Very poor diversification

The correlation between WisdomTree Europe SmallCap and DJI is 0.89 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding WisdomTree Europe SmallCap and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to WisdomTree Europe 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 Europe 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 Europe - 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 Europe SmallCap to buy it.

Moving together with WisdomTree Etf

0.94	SMCX	SPDR MSCI Europe	Pair Corr
0.92	AUCO	LG Gold Mining	Pair Corr
0.9	GGMUSY	UBS ETF plc	Pair Corr
0.91	GDXJ	VanEck Junior Gold	Pair Corr
0.83	ZSILUS	ZKB Silver ETF	Pair Corr
0.93	IAUP	iShares Gold Producers	Pair Corr
0.92	GDX	VanEck Gold Miners	Pair Corr
0.95	SXLI	SPDR SP Industrials	Pair Corr
0.93	EMUEUA	UBSFund Solutions MSCI	Pair Corr
0.7	USGBPA	UBS ETF plc	Pair Corr
0.96	VUKE	Vanguard FTSE 100	Pair Corr
0.98	WOPA	UBS ETF plc	Pair Corr
0.95	LYMEU	Lyxor MSCI Europe	Pair Corr
0.87	VJPN	Vanguard FTSE Japan	Pair Corr
0.79	RBOT	iShares Automation	Pair Corr
0.95	IEEM	iShares MSCI EM	Pair Corr
0.95	C50	Amundi Index Solutions	Pair Corr
0.92	XMME	Xtrackers MSCI Emerging	Pair Corr
0.95	HIEM	HSBC MSCI Emerging	Pair Corr
0.93	WRDUSW-USD	UBSETF MSCIWLD USDa	Pair Corr
0.82	LYFINW	Lyxor MSCI World	Pair Corr
0.81	ZSILHC	ZKB Silver ETF	Pair Corr
0.89	HMEU	HSBC MSCI Europe	Pair Corr
0.93	SMHV	VanEck Semiconductor	Pair Corr
0.92	SJPA	iShares Core MSCI	Pair Corr
0.92	JPHG	Amundi Index Solutions	Pair Corr
0.94	ZGLDEU	ZKB Gold ETF	Pair Corr
0.69	IUSE	iShares SP 500	Pair Corr
0.88	SCITY	Amundi Index Solutions	Pair Corr
0.91	IJPN	iShares MSCI Japan	Pair Corr
0.91	XMJP	Xtrackers MSCI Japan	Pair Corr

Moving against WisdomTree Etf

0.7	AXRP	21Shares Ripple XRP	Pair Corr
0.68	ASOL	21Shares Solana staking	Pair Corr

Related Correlations Analysis

	DFEA	HIEM	WOPA	C50	TBIL	HMXJ	EUREUA	IJPN	CBSEUS
DFEA		0.95	0.98	0.95	0.97	0.91	0.97	0.91	0.45	DFEA
HIEM	0.95		0.96	0.9	0.92	0.97	0.93	0.88	0.62	HIEM
WOPA	0.98	0.96		0.96	0.96	0.95	0.96	0.91	0.48	WOPA
C50	0.95	0.9	0.96		0.91	0.87	0.96	0.87	0.43	C50
TBIL	0.97	0.92	0.96	0.91		0.89	0.95	0.89	0.39	TBIL
HMXJ	0.91	0.97	0.95	0.87	0.89		0.9	0.87	0.58	HMXJ
EUREUA	0.97	0.93	0.96	0.96	0.95	0.9		0.87	0.45	EUREUA
IJPN	0.91	0.88	0.91	0.87	0.89	0.87	0.87		0.54	IJPN
CBSEUS	0.45	0.62	0.48	0.43	0.39	0.58	0.45	0.54		CBSEUS
	DFEA	HIEM	WOPA	C50	TBIL	HMXJ	EUREUA	IJPN	CBSEUS

WisdomTree Europe Constituents Risk-Adjusted Indicators

There is a big difference between WisdomTree Etf performing well and WisdomTree Europe 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 Europe'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
DFEA	0.24	0.13	0.00	9.08	0.00	0.00	0.90	(0.04)	1.82
HIEM	0.88	0.33	0.20	(25.10)	0.67	(1.07)	2.57	(1.67)	7.77
WOPA	0.50	0.12	0.10	0.51	0.46	(0.60)	1.17	(1.01)	2.87
C50	0.60	0.07	0.04	0.30	0.64	(0.66)	1.29	(1.09)	3.34
TBIL	0.03	0.00	(0.72)	0.37	0.00	(0.04)	0.09	(0.07)	0.34
HMXJ	0.89	0.14	0.06	13.74	0.99	(1.06)	1.96	(2.06)	4.97
EUREUA	0.53	0.09	0.05	1.34	0.61	(0.53)	1.28	(1.19)	2.83
IJPN	0.76	0.17	0.13	0.93	0.62	(1.01)	2.07	(1.34)	4.01
CBSEUS	0.11	(0.01)	(0.34)	(0.30)	0.10	(0.17)	0.23	(0.23)	0.68

Be your own money manager

Our tools can tell you how much better you can do entering a position in WisdomTree Europe 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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