WisdomTree Alternative Correlations

HYIN Etf

USD 15.96 0.10 0.62%

The current 90-days correlation between WisdomTree Alternative and iShares Intl High is 0.52 (i.e., Very weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as WisdomTree Alternative moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if WisdomTree Alternative Income moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

WisdomTree Alternative Correlation With Market

Poor diversification

The correlation between WisdomTree Alternative Income and DJI is 0.61 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding WisdomTree Alternative Income 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 Alternative Income. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in gross domestic product.

Moving together with WisdomTree Etf

0.86	VPC	Virtus Private Credit	Pair Corr
0.65	YCL	ProShares Ultra Yen	Pair Corr
0.71	PFFL	ETRACS 2xMonthly Pay	Pair Corr
0.65	BA	Boeing	Pair Corr
0.67	HD	Home Depot	Pair Corr

Moving against WisdomTree Etf

0.59	VIXM	ProShares VIX Mid	Pair Corr
0.58	VXZ	iPath Series B	Pair Corr
0.36	VXX	iPath Series B	Pair Corr
0.36	VIXY	ProShares VIX Short	Pair Corr
0.35	RISR	FolioBeyond Rising Rates	Pair Corr
0.35	SIXD	AIM ETF Products	Pair Corr
0.54	KO	Coca Cola	Pair Corr
0.46	CAT	Caterpillar	Pair Corr
0.41	DD	Dupont De Nemours	Pair Corr
0.4	XOM	Exxon Mobil Corp Aggressive Push	Pair Corr
0.36	MMM	3M Company	Pair Corr

Related Correlations Analysis

	GHYG	EDEN	GMOI	HEEM	FNK	AVXC	EPU	KMLM	FDEV	EWZS
GHYG		0.72	0.7	0.37	0.88	0.31	0.63	0.47	0.75	0.18	GHYG
EDEN	0.72		0.55	0.29	0.82	0.23	0.66	0.53	0.67	-0.16	EDEN
GMOI	0.7	0.55		0.75	0.59	0.7	0.88	0.27	0.95	0.03	GMOI
HEEM	0.37	0.29	0.75		0.22	0.96	0.7	-0.01	0.68	0.09	HEEM
FNK	0.88	0.82	0.59	0.22		0.12	0.61	0.49	0.68	0.01	FNK
AVXC	0.31	0.23	0.7	0.96	0.12		0.62	-0.03	0.64	0.15	AVXC
EPU	0.63	0.66	0.88	0.7	0.61	0.62		0.46	0.9	-0.27	EPU
KMLM	0.47	0.53	0.27	-0.01	0.49	-0.03	0.46		0.43	-0.44	KMLM
FDEV	0.75	0.67	0.95	0.68	0.68	0.64	0.9	0.43		-0.05	FDEV
EWZS	0.18	-0.16	0.03	0.09	0.01	0.15	-0.27	-0.44	-0.05		EWZS
	GHYG	EDEN	GMOI	HEEM	FNK	AVXC	EPU	KMLM	FDEV	EWZS

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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

AVXC	+ 0.96	HEEM
FDEV	+ 0.95	GMOI
FDEV	+ 0.9	EPU
FNK	+ 0.88	GHYG
EPU	+ 0.88	GMOI
FNK	+ 0.82	EDEN

High negative correlations

EWZS	- 0.44	KMLM
EWZS	- 0.27	EPU
EWZS	- 0.16	EDEN
EWZS	- 0.05	FDEV
KMLM	- 0.03	AVXC
KMLM	- 0.01	HEEM

WisdomTree Alternative Constituents Risk-Adjusted Indicators

There is a big difference between WisdomTree Etf performing well and WisdomTree Alternative 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 Alternative'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
GHYG	0.20	(0.01)	(0.22)	0.01	0.21	(0.23)	0.44	(0.33)	1.27
EDEN	0.81	(0.04)	(0.04)	0.02	0.88	(0.95)	2.19	(1.49)	4.65
GMOI	0.52	0.09	0.11	0.18	0.45	(0.59)	1.09	(0.99)	2.48
HEEM	0.68	0.05	0.04	0.13	0.77	(0.79)	1.42	(1.04)	4.33
FNK	0.71	(0.03)	(0.03)	0.03	0.88	(0.77)	1.50	(1.35)	4.03
AVXC	0.69	0.03	0.02	0.10	0.89	(0.70)	1.40	(1.22)	4.65
EPU	1.25	0.27	0.17	0.28	1.38	(1.35)	2.50	(2.85)	8.25
KMLM	0.47	0.00	(0.06)	0.00	0.77	(0.53)	0.67	(0.63)	5.50
FDEV	0.47	0.04	0.03	0.13	0.44	(0.50)	1.07	(0.94)	2.16
EWZS	1.22	(0.22)	0.00	(0.13)	0.00	0.00	2.02	(2.77)	11.13

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