WisdomTree Europe Correlations

HEDJ Etf

USD 54.01 0.20 0.37%

The current 90-days correlation between WisdomTree Europe Hedged and WisdomTree SmallCap Dividend is 0.55 (i.e., Very weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as WisdomTree Europe moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if WisdomTree Europe Hedged moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

WisdomTree Europe Correlation With Market

Poor diversification

The correlation between WisdomTree Europe Hedged and DJI is 0.74 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding WisdomTree Europe Hedged and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with WisdomTree Etf

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in WisdomTree Europe 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 small area income & poverty estimates.

Moving together with WisdomTree Etf

0.9	VGK	Vanguard FTSE Europe	Pair Corr
0.81	EZU	iShares MSCI Eurozone	Pair Corr
0.91	BBEU	JPMorgan BetaBuilders	Pair Corr
0.9	IEUR	iShares Core MSCI	Pair Corr
0.92	FEZ	SPDR EURO STOXX	Pair Corr
0.9	IEV	iShares Europe ETF	Pair Corr
0.8	EUFN	iShares MSCI Europe	Pair Corr
0.95	DBEU	Xtrackers MSCI Europe	Pair Corr
0.96	HEZU	iShares Currency Hedged	Pair Corr
0.86	TOT	Advisor Managed Port	Pair Corr
0.82	FB	ProShares Trust ProShares	Pair Corr
0.86	SWP	SWP Growth Income	Pair Corr
0.87	DUKH	Ocean Park High	Pair Corr
0.8	AXP	American Express	Pair Corr
0.65	CAT	Caterpillar	Pair Corr
0.86	BAC	Bank of America Earnings Call This Week	Pair Corr
0.84	AA	Alcoa Corp	Pair Corr
0.63	DD	Dupont De Nemours	Pair Corr
0.67	WMT	Walmart Common Stock	Pair Corr
0.69	XOM	Exxon Mobil Corp	Pair Corr
0.77	JPM	JPMorgan Chase Earnings Call This Week	Pair Corr

Moving against WisdomTree Etf

0.55	T	ATT Inc	Pair Corr
0.55	PG	Procter Gamble	Pair Corr
0.39	HPQ	HP Inc	Pair Corr

Related Correlations Analysis

	DES	IXC	EPP	IYG	DGS	REGL	DIVI	TILT	IPAC	WTV
DES		0.26	0.46	0.84	0.37	0.9	0.67	0.82	0.69	0.94	DES
IXC	0.26		-0.03	0.43	0.37	0.14	0.55	0.51	0.43	0.44	IXC
EPP	0.46	-0.03		0.53	0.64	0.49	0.45	0.52	0.73	0.45	EPP
IYG	0.84	0.43	0.53		0.58	0.81	0.9	0.89	0.82	0.94	IYG
DGS	0.37	0.37	0.64	0.58		0.35	0.76	0.57	0.71	0.52	DGS
REGL	0.9	0.14	0.49	0.81	0.35		0.61	0.65	0.57	0.84	REGL
DIVI	0.67	0.55	0.45	0.9	0.76	0.61		0.83	0.82	0.85	DIVI
TILT	0.82	0.51	0.52	0.89	0.57	0.65	0.83		0.87	0.92	TILT
IPAC	0.69	0.43	0.73	0.82	0.71	0.57	0.82	0.87		0.8	IPAC
WTV	0.94	0.44	0.45	0.94	0.52	0.84	0.85	0.92	0.8		WTV
	DES	IXC	EPP	IYG	DGS	REGL	DIVI	TILT	IPAC	WTV

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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

WTV	+ 0.94	DES
WTV	+ 0.94	IYG
WTV	+ 0.92	TILT
REGL	+ 0.9	DES
DIVI	+ 0.9	IYG
TILT	+ 0.89	IYG

High negative correlations

EPP

- 0.03

IXC

WisdomTree Europe Constituents Risk-Adjusted Indicators

There is a big difference between WisdomTree Etf performing well and WisdomTree Europe 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 Europe'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
DES	0.72	(0.04)	(0.04)	0.05	0.85	(0.79)	1.93	(1.63)	4.18
IXC	0.84	0.02	(0.03)	0.13	1.07	(0.85)	1.68	(1.24)	4.80
EPP	0.62	(0.06)	(0.08)	0.01	0.84	(0.59)	1.23	(1.40)	3.24
IYG	0.71	0.02	0.03	0.10	0.90	(0.80)	1.50	(1.66)	3.99
DGS	0.54	0.02	(0.07)	0.69	0.80	(0.52)	0.97	(1.04)	3.66
REGL	0.58	(0.04)	(0.08)	0.03	0.71	(0.65)	1.57	(1.52)	3.26
DIVI	0.55	0.08	0.02	0.42	0.61	(0.57)	1.19	(1.13)	2.81
TILT	0.64	(0.02)	(0.02)	0.06	0.87	(0.63)	1.43	(1.21)	3.38
IPAC	0.65	0.00	(0.01)	0.09	0.94	(0.60)	1.50	(1.38)	4.86
WTV	0.58	(0.01)	(0.02)	0.08	0.66	(0.62)	1.41	(1.13)	3.13

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