WisdomTree Japan Correlations

DFJ Etf

USD 101.63 1.06 1.05%

The current 90-days correlation between WisdomTree Japan SmallCap and NuShares ETF Trust is 0.23 (i.e., Modest diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as WisdomTree Japan moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if WisdomTree Japan SmallCap moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

WisdomTree Japan Correlation With Market

Very poor diversification

The correlation between WisdomTree Japan 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 Japan SmallCap 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 Japan SmallCap. 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

0.87	EWJ	iShares MSCI Japan	Pair Corr
0.85	BBJP	JPMorgan BetaBuilders	Pair Corr
0.96	DXJ	WisdomTree Japan Hedged	Pair Corr
0.91	FLJP	Franklin FTSE Japan	Pair Corr
0.93	HEWJ	iShares Currency Hedged	Pair Corr
0.93	DBJP	Xtrackers MSCI Japan	Pair Corr
0.98	EWJV	iShares MSCI Japan	Pair Corr
0.99	SCJ	iShares MSCI Japan	Pair Corr
0.9	JPXN	iShares JPX Nikkei	Pair Corr
0.96	LENS	Sarmaya Thematic ETF	Pair Corr
0.95	ASA	ASA Gold Earnings Call This Week	Pair Corr
0.92	MAPP	Harbor ETF Trust	Pair Corr
0.72	WNTR	YieldMax MSTR Short	Pair Corr
0.63	JUNE	JUNE Symbol Change	Pair Corr
0.96	SNPD	DBX ETF Trust	Pair Corr
0.78	DD	Dupont De Nemours	Pair Corr
0.87	MRK	Merck Company	Pair Corr
0.8	CAT	Caterpillar Earnings Call This Week	Pair Corr
0.82	JNJ	Johnson Johnson	Pair Corr
0.65	CVX	Chevron Corp Earnings Call This Week	Pair Corr
0.84	XOM	Exxon Mobil Corp Earnings Call This Week	Pair Corr
0.8	BA	Boeing Earnings Call This Week	Pair Corr

Moving against WisdomTree Etf

0.72	SWIN	Alps Symbol Change	Pair Corr
0.74	MSFT	Microsoft Earnings Call This Week	Pair Corr
0.7	T	ATT Inc Earnings Call This Week	Pair Corr
0.51	PG	Procter Gamble	Pair Corr

Related Correlations Analysis

	DGRS	EIDO	WCLD	DFNL	SMMV	EWN	XMVM	DFE	HAWX	NUEM
DGRS		0.64	-0.21	0.74	0.9	0.84	0.83	0.91	0.84	0.71	DGRS
EIDO	0.64		-0.34	0.82	0.74	0.66	0.84	0.68	0.8	0.54	EIDO
WCLD	-0.21	-0.34		-0.04	-0.32	-0.31	-0.16	-0.14	-0.29	-0.29	WCLD
DFNL	0.74	0.82	-0.04		0.85	0.64	0.97	0.82	0.79	0.49	DFNL
SMMV	0.9	0.74	-0.32	0.85		0.77	0.9	0.9	0.85	0.64	SMMV
EWN	0.84	0.66	-0.31	0.64	0.77		0.67	0.88	0.96	0.95	EWN
XMVM	0.83	0.84	-0.16	0.97	0.9	0.67		0.84	0.8	0.51	XMVM
DFE	0.91	0.68	-0.14	0.82	0.9	0.88	0.84		0.9	0.77	DFE
HAWX	0.84	0.8	-0.29	0.79	0.85	0.96	0.8	0.9		0.9	HAWX
NUEM	0.71	0.54	-0.29	0.49	0.64	0.95	0.51	0.77	0.9		NUEM
	DGRS	EIDO	WCLD	DFNL	SMMV	EWN	XMVM	DFE	HAWX	NUEM

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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

XMVM	+ 0.97	DFNL
HAWX	+ 0.96	EWN
NUEM	+ 0.95	EWN
DFE	+ 0.91	DGRS
SMMV	+ 0.9	DGRS
XMVM	+ 0.9	SMMV

High negative correlations

WCLD	- 0.34	EIDO
SMMV	- 0.32	WCLD
EWN	- 0.31	WCLD
NUEM	- 0.29	WCLD
HAWX	- 0.29	WCLD
WCLD	- 0.21	DGRS

WisdomTree Japan Constituents Risk-Adjusted Indicators

There is a big difference between WisdomTree Etf performing well and WisdomTree Japan 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 Japan'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
DGRS	0.80	0.04	0.06	0.13	0.72	(1.00)	2.54	(1.40)	4.59
EIDO	0.63	0.13	0.09	0.73	0.40	(0.75)	1.98	(1.02)	4.59
WCLD	1.23	(0.14)	0.00	(0.96)	0.00	0.00	2.06	(2.75)	6.65
DFNL	0.62	0.09	0.09	0.20	0.54	(0.66)	1.67	(1.28)	3.73
SMMV	0.44	0.02	(0.05)	0.14	0.36	(0.51)	0.90	(0.86)	2.25
EWN	0.83	0.05	0.04	0.14	0.91	(0.87)	1.65	(1.49)	4.87
XMVM	0.67	0.11	0.14	0.23	0.42	(0.90)	2.17	(1.08)	4.22
DFE	0.56	0.05	0.02	0.17	0.63	(0.58)	1.39	(0.92)	3.48
HAWX	0.50	0.05	0.04	0.17	0.50	(0.55)	1.11	(0.98)	3.06
NUEM	0.58	0.05	0.01	0.17	0.55	(0.64)	1.20	(1.06)	3.22

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