WisdomTree Europe Correlations

HEDJ Etf

USD 55.80 0.28 0.50%

The current 90-days correlation between WisdomTree Europe Hedged and WisdomTree Trust is 0.68 (i.e., Poor 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

Almost no diversification

The correlation between WisdomTree Europe Hedged and DJI is 0.95 (i.e., Almost no 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

0.93	VGK	Vanguard FTSE Europe	Pair Corr
0.93	EZU	iShares MSCI Eurozone	Pair Corr
0.96	BBEU	JPMorgan BetaBuilders	Pair Corr
0.95	IEUR	iShares Core MSCI	Pair Corr
0.96	FEZ	SPDR EURO STOXX	Pair Corr
0.95	IEV	iShares Europe ETF	Pair Corr
0.86	EUFN	iShares MSCI Europe	Pair Corr
0.99	DBEU	Xtrackers MSCI Europe	Pair Corr
0.99	HEZU	iShares Currency Hedged	Pair Corr
0.67	USD	ProShares Ultra Semi	Pair Corr
0.8	JNUG	Direxion Daily Junior	Pair Corr
0.74	GDXU	MicroSectors Gold Miners	Pair Corr
0.82	NUGT	Direxion Daily Gold	Pair Corr
0.83	GDMN	WisdomTree Efficient Gold	Pair Corr
0.81	DGP	DB Gold Double	Pair Corr
0.71	DOGG	First Trust Exchange Low Volatility	Pair Corr
0.91	SPVM	Invesco SP 500	Pair Corr
0.88	LVHI	Franklin International Low Volatility	Pair Corr
0.92	UMAY	Innovator ETFs Trust	Pair Corr
0.9	JANW	AIM ETF Products	Pair Corr
0.94	ESML	iShares ESG Aware	Pair Corr
0.92	GAPR	First Trust Exchange	Pair Corr
0.93	TAXT	Northern Trust Tax	Pair Corr
0.92	CCNR	CoreCommodity Natural	Pair Corr
0.9	SCDV	ETF Series Solutions	Pair Corr
0.88	WDNA	WisdomTree BioRevolution Low Volatility	Pair Corr
0.92	BMVP	Invesco Bloomberg MVP	Pair Corr
0.9	GENW	Spinnaker ETF Series	Pair Corr
0.93	NBCE	Neuberger Berman ETF	Pair Corr
0.92	FPXE	First Trust IPOX	Pair Corr
0.94	TLCI	Touchstone ETF Trust	Pair Corr
0.9	EMES	Harbor ETF Trust	Pair Corr
0.89	PSFD	Pacer Swan SOS	Pair Corr
0.91	EWT	iShares MSCI Taiwan	Pair Corr
0.95	PFF	iShares Preferred Sell-off Trend	Pair Corr

Related Correlations Analysis

	DES	IXC	EPP	IYG	DGS	REGL	DIVI	TILT	IPAC	WTV
DES		0.88	0.92	0.25	0.92	0.99	0.96	0.86	0.94	0.98	DES
IXC	0.88		0.93	-0.14	0.95	0.87	0.9	0.63	0.94	0.83	IXC
EPP	0.92	0.93		0.15	0.98	0.92	0.98	0.81	0.97	0.91	EPP
IYG	0.25	-0.14	0.15		0.05	0.24	0.26	0.6	0.12	0.37	IYG
DGS	0.92	0.95	0.98	0.05		0.92	0.97	0.78	0.97	0.88	DGS
REGL	0.99	0.87	0.92	0.24	0.92		0.96	0.83	0.95	0.98	REGL
DIVI	0.96	0.9	0.98	0.26	0.97	0.96		0.87	0.98	0.96	DIVI
TILT	0.86	0.63	0.81	0.6	0.78	0.83	0.87		0.79	0.89	TILT
IPAC	0.94	0.94	0.97	0.12	0.97	0.95	0.98	0.79		0.94	IPAC
WTV	0.98	0.83	0.91	0.37	0.88	0.98	0.96	0.89	0.94		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

REGL	+ 0.99	DES
WTV	+ 0.98	DES
DGS	+ 0.98	EPP
DIVI	+ 0.98	EPP
WTV	+ 0.98	REGL
IPAC	+ 0.98	DIVI

High negative correlations

IYG

- 0.14

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	0.78	0.16	0.18	0.19	0.56	(0.91)	2.40	(1.41)	5.22
IXC	1.03	0.26	0.19	0.85	0.94	(1.18)	2.17	(1.75)	5.05
EPP	0.66	0.11	0.10	0.21	0.71	(0.71)	1.34	(1.40)	4.30
IYG	0.83	(0.06)	0.00	(0.02)	0.00	0.00	1.54	(1.80)	4.81
DGS	0.54	0.15	0.21	0.34	0.36	(0.64)	1.20	(0.92)	2.81
REGL	0.62	0.13	0.21	0.24	0.35	(0.81)	1.68	(1.04)	3.19
DIVI	0.59	0.13	0.16	0.21	0.54	(0.63)	1.29	(1.22)	3.08
TILT	0.58	0.01	0.01	0.05	0.73	(0.58)	1.45	(1.58)	3.85
IPAC	0.71	0.14	0.14	0.22	0.68	(0.73)	1.54	(1.38)	3.73
WTV	0.57	0.11	0.15	0.18	0.46	(0.65)	1.65	(1.24)	3.47

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