WisdomTree High Correlations

DHS Etf

MXN 1,802 0.00 0.00%

The current 90-days correlation between WisdomTree High Dividend and WisdomTree Trust is 0.01 (i.e., Significant diversification). The correlation of WisdomTree High 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 High Correlation With Market

Good diversification

The correlation between WisdomTree High Dividend and DJI is -0.03 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding WisdomTree High Dividend and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with WisdomTree Etf

0.76	BND	Vanguard Bond Index	Pair Corr
0.89	IYJ	iShares Trust	Pair Corr

Moving against WisdomTree Etf

0.82	IYF	iShares Trust	Pair Corr
0.73	FDT	First Trust Developed	Pair Corr
0.71	GDXJ	VanEck Vectors ETF	Pair Corr
0.49	VEA	Vanguard Tax Managed	Pair Corr
0.43	IWM	iShares Trust	Pair Corr
0.39	VXUS	Vanguard STAR Funds	Pair Corr
0.35	SMH	Vaneck Vectors Semic	Pair Corr
0.77	KRE	SPDR SP Regional	Pair Corr
0.69	PPLT	Aberdeen Standard	Pair Corr
0.68	FLTR	Vaneck Vectors Investment	Pair Corr
0.68	ITM	Vaneck Vectors Amt	Pair Corr
0.67	GDX	VanEck Vectors ETF	Pair Corr
0.58	EWI	iShares MSCI Italy	Pair Corr
0.5	HEZU	iShares Trust	Pair Corr
0.47	HEWJ	iShares Trust	Pair Corr
0.46	SCC	Proshares Ultrashort	Pair Corr
0.44	GLTR	Aberdeen Standard	Pair Corr
0.4	VHT	Vanguard World	Pair Corr
0.39	EWY	iShares iShares	Pair Corr
0.36	DIA	SPDR Dow Jones	Pair Corr
0.35	MOAT	VanEck Vectors ETF	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.61	0.31	-0.37	0.24	-0.18	0.47	-0.15	-0.35	-0.43	META
MSFT	0.61		0.8	-0.54	0.5	0.13	0.2	-0.4	-0.84	-0.72	MSFT
UBER	0.31	0.8		-0.47	0.43	0.37	-0.09	-0.47	-0.81	-0.53	UBER
F	-0.37	-0.54	-0.47		-0.69	0.03	0.21	0.66	0.7	0.69	F
T	0.24	0.5	0.43	-0.69		0.4	-0.36	-0.55	-0.51	-0.65	T
A	-0.18	0.13	0.37	0.03	0.4		-0.44	-0.25	-0.13	-0.19	A
CRM	0.47	0.2	-0.09	0.21	-0.36	-0.44		0.52	0.05	-0.09	CRM
JPM	-0.15	-0.4	-0.47	0.66	-0.55	-0.25	0.52		0.6	0.44	JPM
MRK	-0.35	-0.84	-0.81	0.7	-0.51	-0.13	0.05	0.6		0.78	MRK
XOM	-0.43	-0.72	-0.53	0.69	-0.65	-0.19	-0.09	0.44	0.78		XOM
	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM

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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

UBER	+ 0.8	MSFT
XOM	+ 0.78	MRK
MRK	+ 0.7	F
XOM	+ 0.69	F
JPM	+ 0.66	F
MSFT	+ 0.61	META

High negative correlations

MRK	- 0.84	MSFT
MRK	- 0.81	UBER
XOM	- 0.72	MSFT
T	- 0.69	F
XOM	- 0.65	T
JPM	- 0.55	T

WisdomTree High Competition Risk-Adjusted Indicators

There is a big difference between WisdomTree Etf performing well and WisdomTree High 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 High'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
META	1.34	(0.31)	0.00	(0.25)	0.00	0.00	2.30	(2.67)	13.46
MSFT	0.96	(0.21)	0.00	(0.41)	0.00	0.00	1.65	(2.50)	4.90
UBER	1.47	(0.23)	0.00	(0.20)	0.00	0.00	2.60	(3.82)	10.23
F	1.44	0.12	0.10	0.15	1.33	(1.75)	3.38	(2.35)	16.30
T	0.89	(0.17)	0.00	(0.46)	0.00	0.00	1.53	(1.85)	4.30
A	1.16	(0.12)	0.00	(0.03)	0.00	0.00	2.34	(2.24)	7.85
CRM	1.59	(0.16)	0.00	(0.08)	0.00	0.00	3.66	(3.10)	12.37
JPM	1.16	(0.10)	(0.04)	0.00	1.73	(1.13)	2.00	(3.11)	7.38
MRK	1.22	0.37	0.27	0.53	1.01	(1.52)	3.59	(1.98)	8.09
XOM	1.06	0.24	0.15	4.24	0.98	(1.21)	2.37	(1.51)	5.82

Be your own money manager

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