WisdomTree Polkadot Correlations

DOTW Etf

4.11 0.08 1.99%

The current 90-days correlation between WisdomTree Polkadot EUR and Lyxor UCITS Japan is 0.22 (i.e., Modest diversification). The correlation of WisdomTree Polkadot 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 Polkadot Correlation With Market

Average diversification

The correlation between WisdomTree Polkadot EUR and DJI is 0.1 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding WisdomTree Polkadot EUR and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with WisdomTree Etf

0.66	JPNH	Lyxor UCITS Japan	Pair Corr
0.62	JPN	Lyxor UCITS Japan	Pair Corr
0.66	EMLD	SSgA SPDR ETFs	Pair Corr
0.67	HHH	HSBC SP 500	Pair Corr
0.67	SPY5	SPDR SP 500	Pair Corr
0.8	EQQQ	Invesco EQQQ NASDAQ	Pair Corr
0.7	AFLE	Amundi Index Solutions	Pair Corr
0.82	DAX	Multi Units Luxembourg	Pair Corr
0.8	ECRP3	Amundi Index Solutions	Pair Corr
0.65	MCEU	Amundi Index Solutions	Pair Corr
0.68	ENAM	BNP Paribas Easy	Pair Corr
0.68	PEU	Invesco Markets III	Pair Corr
0.85	HAMO	Hashdex Crypto Momentum	Pair Corr
0.66	GOAI	Amundi Stoxx Global	Pair Corr
0.62	HIWS	HSBC MSCI World	Pair Corr
0.74	HPAU	HSBC MSCI USA	Pair Corr
0.68	BNK	Lyxor Index Fund	Pair Corr
0.75	C3M	Amundi ETF Govies	Pair Corr
0.66	MUSA	iShares MSCI USA	Pair Corr
0.66	USHY	Lyxor BofAML High	Pair Corr
0.65	IMIE	SPDR MSCI ACWI	Pair Corr
0.73	GOVS	SPDR Barclays Capital	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.73	-0.57	-0.59	0.32	0.57	0.53	0.34	-0.06	-0.67	META
MSFT	0.73		-0.53	-0.24	0.56	0.23	0.65	0.25	-0.1	-0.47	MSFT
UBER	-0.57	-0.53		0.64	-0.58	-0.08	-0.78	-0.56	0.67	0.81	UBER
F	-0.59	-0.24	0.64		0.01	-0.25	-0.2	-0.07	0.2	0.9	F
T	0.32	0.56	-0.58	0.01		0.0	0.8	0.59	-0.45	-0.23	T
A	0.57	0.23	-0.08	-0.25	0.0		0.12	0.22	0.32	-0.19	A
CRM	0.53	0.65	-0.78	-0.2	0.8	0.12		0.7	-0.59	-0.44	CRM
JPM	0.34	0.25	-0.56	-0.07	0.59	0.22	0.7		-0.62	-0.25	JPM
MRK	-0.06	-0.1	0.67	0.2	-0.45	0.32	-0.59	-0.62		0.32	MRK
XOM	-0.67	-0.47	0.81	0.9	-0.23	-0.19	-0.44	-0.25	0.32		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	+ 0.9	F
XOM	+ 0.81	UBER
CRM	+ 0.8	T
MSFT	+ 0.73	META
JPM	+ 0.7	CRM
MRK	+ 0.67	UBER

High negative correlations

CRM	- 0.78	UBER
XOM	- 0.67	META
MRK	- 0.62	JPM
MRK	- 0.59	CRM
F	- 0.59	META
T	- 0.58	UBER

WisdomTree Polkadot Competition Risk-Adjusted Indicators

There is a big difference between WisdomTree Etf performing well and WisdomTree Polkadot 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 Polkadot'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	1.36	0.06	0.03	0.21	1.51	(1.56)	3.43	(3.15)	7.43
MSFT	0.92	0.04	0.01	1.07	1.58	(0.87)	2.09	(1.73)	8.14
UBER	1.63	(0.33)	0.00	(26.89)	0.00	0.00	2.67	(5.35)	12.29
F	1.38	(0.08)	0.00	(0.17)	0.00	0.00	2.38	(2.81)	11.21
T	0.97	0.08	0.06	0.24	1.10	(1.04)	1.91	(1.84)	7.96
A	1.21	0.03	0.01	0.09	1.45	(1.33)	2.72	(2.42)	8.06
CRM	1.41	0.17	0.10	0.79	1.45	(1.59)	3.16	(2.88)	14.80
JPM	1.03	0.25	0.17	1.11	1.11	(1.17)	1.92	(1.42)	15.87
MRK	1.00	(0.17)	0.00	(0.68)	0.00	0.00	1.74	(2.17)	5.17
XOM	0.76	(0.15)	0.00	(0.37)	0.00	0.00	1.71	(1.67)	6.06

WisdomTree Polkadot Related Equities

One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with WisdomTree Polkadot etf to make a market-neutral strategy. Peer analysis of WisdomTree Polkadot could also be used in its relative valuation, which is a method of valuing WisdomTree Polkadot by comparing valuation metrics with similar companies.

Lyxor UCITS Japan Lyxor UCITS Japan Lyxor UCITS Stoxx Amundi CAC 40 Gold Bullion Securities Lyxor CAC 40 SSgA SPDR ETFs Xtrackers MSCI Europe HSBC SP 500 SPDR SP 500 American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup

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