WisdomTree Physical Correlations

DOTW Etf

0.63 0.02 3.08%

The current 90-days correlation between WisdomTree Physical and WisdomTree Copper EUR is 0.02 (i.e., Significant diversification). The correlation of WisdomTree Physical 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.

WisdomTree Physical Correlation With Market

Excellent diversification

The correlation between WisdomTree Physical Polkadot and DJI is -0.67 (i.e., Excellent diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding WisdomTree Physical Polkadot and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to WisdomTree Physical 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 Physical 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 Physical - 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 Physical Polkadot to buy it.

Moving against WisdomTree Etf

0.77	CD9	Amundi MSCI Europe	Pair Corr
0.7	JPNH	Lyxor UCITS Japan	Pair Corr
0.69	GDIG	VanEck SP Global	Pair Corr
0.68	GBS	Gold Bullion Securities	Pair Corr
0.63	JPN	Lyxor UCITS Japan	Pair Corr
0.6	MSE	Amundi EURO STOXX	Pair Corr
0.58	COPAP	WisdomTree Copper EUR	Pair Corr
0.5	AIGPP	WisdomTree Precious	Pair Corr
0.47	CRP	Lyxor UCITS Corporate	Pair Corr
0.39	CAC	Amundi CAC 40	Pair Corr
0.38	CACC	Lyxor CAC 40	Pair Corr
0.82	OBLI	Lyxor PEA Obligations	Pair Corr
0.7	TPHU	Amundi Index Solutions	Pair Corr
0.68	ETZ	BNP Paribas Easy	Pair Corr
0.67	CW8U	Amundi MSCI World	Pair Corr
0.66	NRJ	Multi Units France	Pair Corr
0.66	MIB	Lyxor FTSE MIB	Pair Corr
0.65	CAPE	Ossiam Shiller Barclays	Pair Corr
0.64	PALAT	Amundi ETF PEA	Pair Corr
0.64	WEWEU	BNP PARIBAS Easy	Pair Corr
0.61	CMU	Amundi MSCI EMU	Pair Corr
0.6	AUEM	Amundi Index Solutions	Pair Corr
0.58	X13G	Amundi Index Solutions	Pair Corr
0.5	VVMX	VanEck Rare Earth	Pair Corr
0.46	SRIJ	BNP Paribas Easy	Pair Corr
0.37	WRD	HSBC MSCI World	Pair Corr
0.33	DFNS	VanEck Defense UCITS	Pair Corr
0.78	VALD	BNP Paribas Easy	Pair Corr
0.72	CP9U	Amundi MSCI Pacific	Pair Corr
0.7	JPHE	Amundi Index Solutions	Pair Corr
0.7	TELE	Lyxor Index Fund	Pair Corr
0.68	IB27	iShares V PLC	Pair Corr
0.68	SMC	SPDR MSCI Europe	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		-0.41	-0.46	0.43	0.16	-0.53	-0.1	0.33	0.48	0.43	META
MSFT	-0.41		0.8	-0.53	-0.65	0.71	0.81	0.06	-0.85	-0.91	MSFT
UBER	-0.46	0.8		-0.46	-0.48	0.78	0.53	-0.09	-0.8	-0.74	UBER
F	0.43	-0.53	-0.46		0.06	-0.41	-0.23	0.3	0.68	0.6	F
T	0.16	-0.65	-0.48	0.06		-0.39	-0.75	-0.13	0.4	0.58	T
A	-0.53	0.71	0.78	-0.41	-0.39		0.48	-0.04	-0.63	-0.78	A
CRM	-0.1	0.81	0.53	-0.23	-0.75	0.48		0.44	-0.56	-0.81	CRM
JPM	0.33	0.06	-0.09	0.3	-0.13	-0.04	0.44		0.21	-0.08	JPM
MRK	0.48	-0.85	-0.8	0.68	0.4	-0.63	-0.56	0.21		0.82	MRK
XOM	0.43	-0.91	-0.74	0.6	0.58	-0.78	-0.81	-0.08	0.82		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

XOM	+ 0.82	MRK
CRM	+ 0.81	MSFT
UBER	+ 0.8	MSFT
A	+ 0.78	UBER
A	+ 0.71	MSFT
MRK	+ 0.68	F

High negative correlations

XOM	- 0.91	MSFT
MRK	- 0.85	MSFT
XOM	- 0.81	CRM
MRK	- 0.8	UBER
XOM	- 0.78	A
CRM	- 0.75	T

WisdomTree Physical Competition Risk-Adjusted Indicators

There is a big difference between WisdomTree Etf performing well and WisdomTree Physical 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 Physical'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	1.51	0.00	(0.02)	0.06	1.53	(1.82)	3.43	(2.82)	13.69
MSFT	1.32	(0.36)	0.00	(0.92)	0.00	0.00	1.90	(2.74)	13.28
UBER	1.50	(0.46)	0.00	(0.90)	0.00	0.00	2.41	(3.82)	11.09
F	1.22	0.07	0.05	0.14	1.20	(1.48)	3.34	(2.30)	7.16
T	1.02	0.23	0.17	3.71	0.77	(1.19)	3.87	(1.54)	5.31
A	1.27	(0.30)	0.00	(0.17)	0.00	0.00	2.90	(2.73)	7.85
CRM	1.68	(0.41)	0.00	(0.35)	0.00	0.00	2.94	(4.75)	12.37
JPM	1.26	(0.15)	0.00	(0.04)	0.00	0.00	2.34	(3.11)	7.38
MRK	1.35	0.49	0.35	0.77	0.97	(1.72)	3.59	(1.98)	8.74
XOM	1.24	0.36	0.22	1.65	1.11	(1.42)	2.68	(2.12)	6.83

Be your own money manager

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