WisdomTree Quality Correlations

DGRA Etf

56.01 0.94 1.71%

The current 90-days correlation between WisdomTree Quality and Xtrackers MSCI Mexico is 0.3 (i.e., Weak diversification). The correlation of WisdomTree Quality 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 Quality Correlation With Market

Very poor diversification

The correlation between WisdomTree Quality Dividend and DJI is 0.84 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding WisdomTree Quality Dividend and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to WisdomTree Quality 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 Quality 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 Quality - 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 Quality Dividend to buy it.

Moving together with WisdomTree Etf

0.83	USDV	SPDR SP Dividend	Pair Corr
0.71	LYJPN	Lyxor Japan UCITS	Pair Corr
0.84	JPNJPA	UBSFund Solutions MSCI	Pair Corr
0.9	JPNUKD	UBSFund Solutions MSCI	Pair Corr
0.75	HKDU	UBSFund Solutions MSCI	Pair Corr
0.75	USCR	SPDR Bloomberg SASB	Pair Corr
0.91	XMCJ	Xtrackers MSCI Japan	Pair Corr
0.86	VAPU	Vanguard FTSE Developed	Pair Corr
0.87	UKGBPA	UBSFund Solutions MSCI	Pair Corr
0.81	CSNKY	iShares VII PLC	Pair Corr
0.92	XGSD	Xtrackers Stoxx Global	Pair Corr
0.81	DRVE	Global X Autonomous	Pair Corr
0.87	DMFC	iShares Edge MSCI	Pair Corr
0.93	WRDUSW-USD	UBSETF MSCIWLD USDa	Pair Corr
0.84	HYLC	iShares Global High	Pair Corr
0.89	XESC	Xtrackers Euro Stoxx	Pair Corr
0.79	XMME	Xtrackers MSCI Emerging	Pair Corr
0.86	ZGLDEU	ZKB Gold ETF	Pair Corr
0.82	USGBPA	UBS ETF plc	Pair Corr
0.93	XDUE	Xtrackers MSCI EMU	Pair Corr
0.9	XMEX	Xtrackers MSCI Mexico	Pair Corr
0.86	LYSP5	Lyxor SP 500	Pair Corr
0.92	STYC	PIMCO Short Term	Pair Corr
0.86	SMICHA	UBS ETF SMI	Pair Corr
0.93	XEOU	Xtrackers MSCI Europe	Pair Corr
0.92	IT25	iShares V PLC	Pair Corr
0.86	GDX	VanEck Gold Miners	Pair Corr
0.91	XLBS	Invesco Materials	Pair Corr
0.81	DCUSAS	UBS Fund Solutions	Pair Corr
0.92	EMUM	iShares MSCI EMU	Pair Corr

Moving against WisdomTree Etf

0.65	LYYIEL	Amundi EUR High	Pair Corr
0.34	IHYU	iShares High Yield	Pair Corr

Related Correlations Analysis

	XEOU	CSNKY	XMEX
XEOU		0.85	0.94	XEOU
CSNKY	0.85		0.85	CSNKY
XMEX	0.94	0.85		XMEX
	XEOU	CSNKY	XMEX

WisdomTree Quality Constituents Risk-Adjusted Indicators

There is a big difference between WisdomTree Etf performing well and WisdomTree Quality 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 Quality'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
XEOU	0.52	0.10	0.04	0.73	0.49	(0.58)	1.08	(1.04)	3.03
CSNKY	1.08	0.11	0.02	(5.75)	1.19	(1.20)	2.14	(2.11)	6.36
XMEX	0.94	0.19	0.12	0.41	0.93	(1.15)	2.61	(2.08)	5.63

Be your own money manager

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