WisdomTree Japan Correlations

DXJ Etf  USD 111.09  0.70  0.63%   
The current 90-days correlation between WisdomTree Japan Hedged and WisdomTree Europe Hedged is 0.33 (i.e., Weak 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 Hedged moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

WisdomTree Japan Correlation With Market

Good diversification

The correlation between WisdomTree Japan Hedged and DJI is -0.06 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding WisdomTree Japan Hedged and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in WisdomTree Japan Hedged. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in interest.

Moving together with WisdomTree Etf

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  0.98DBJP Xtrackers MSCI JapanPairCorr
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Moving against WisdomTree Etf

  0.63IRET iREIT MarketVectorPairCorr
  0.62KO Coca Cola Earnings Call This WeekPairCorr
  0.55HPQ HP IncPairCorr
  0.55AA Alcoa CorpPairCorr
  0.53INTC IntelPairCorr
  0.44VZ Verizon CommunicationsPairCorr
  0.35TRV The Travelers CompaniesPairCorr
  0.31MRK Merck Company Earnings Call This WeekPairCorr

Related Correlations Analysis

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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.