WisdomTree Alternative Correlations

HYIN Etf

USD 14.67 0.21 1.41%

The current 90-days correlation between WisdomTree Alternative and OneAscent Core Plus is 0.22 (i.e., Modest 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

Good diversification

The correlation between WisdomTree Alternative Income 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 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

0.94	VPC	Virtus Private Credit	Pair Corr
0.71	IRE	Tidal Trust II	Pair Corr
0.71	VUG	Vanguard Growth Index	Pair Corr

Moving against WisdomTree Etf

0.67	SSFI	Strategy Shares	Pair Corr
0.66	BND	Vanguard Total Bond	Pair Corr
0.58	UCON	First Trust TCW	Pair Corr
0.5	INR	Infinity Natural Res	Pair Corr
0.42	VTV	Vanguard Value Index	Pair Corr
0.63	EUSB	iShares Trust	Pair Corr
0.59	ERET	iShares Environmentally	Pair Corr
0.56	LQIG	SPDR MarketAxess Inv	Pair Corr
0.46	LQDW	iShares Trust	Pair Corr
0.45	ASEA	Global X FTSE	Pair Corr
0.42	DWM	WisdomTree International	Pair Corr
0.37	HEFA	iShares Currency Hedged	Pair Corr
0.36	FTCS	First Trust Capital	Pair Corr
0.34	IEMG	iShares Core MSCI Sell-off Trend	Pair Corr
0.56	UCO	ProShares Ultra Bloomberg	Pair Corr
0.5	USO	United States Oil	Pair Corr
0.5	RHRX	Starboard Investment	Pair Corr
0.49	DXJ	WisdomTree Japan Hedged	Pair Corr
0.46	FNDF	Schwab Fundamental	Pair Corr
0.41	DES	WisdomTree SmallCap	Pair Corr

Related Correlations Analysis

	QHY	XTRE	XFIV	BSMU	GTIP	PGHY	HYXF	FCAL	OACP
QHY		0.78	0.54	0.94	0.67	0.94	0.93	0.9	0.81	QHY
XTRE	0.78		0.92	0.87	0.9	0.78	0.6	0.92	0.96	XTRE
XFIV	0.54	0.92		0.66	0.92	0.53	0.31	0.75	0.91	XFIV
BSMU	0.94	0.87	0.66		0.77	0.94	0.83	0.98	0.86	BSMU
GTIP	0.67	0.9	0.92	0.77		0.65	0.42	0.84	0.93	GTIP
PGHY	0.94	0.78	0.53	0.94	0.65		0.88	0.91	0.79	PGHY
HYXF	0.93	0.6	0.31	0.83	0.42	0.88		0.76	0.62	HYXF
FCAL	0.9	0.92	0.75	0.98	0.84	0.91	0.76		0.92	FCAL
OACP	0.81	0.96	0.91	0.86	0.93	0.79	0.62	0.92		OACP
	QHY	XTRE	XFIV	BSMU	GTIP	PGHY	HYXF	FCAL	OACP

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	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
QHY	0.12	0.01	(0.39)	0.18	(0.14)	0.33	(0.20)	0.85
XTRE	0.08	0.01	(0.81)	(0.31)	(0.10)	0.22	(0.14)	0.54
XFIV	0.14	0.02	(0.41)	(0.66)	(0.16)	0.30	(0.22)	0.71
BSMU	0.06	0.02	(0.73)	(6.17)	(0.09)	0.14	(0.09)	0.41
GTIP	0.14	0.01	(0.39)	0.51	(0.15)	0.29	(0.24)	0.61
PGHY	0.16	0.03	(0.30)	0.98	(0.19)	0.36	(0.25)	0.86
HYXF	0.10	0.01	(0.51)	0.15	(0.12)	0.24	(0.17)	0.71
FCAL	0.08	0.03	(0.57)	(2.94)	(0.11)	0.18	(0.12)	0.59
OACP	0.12	0.02	(0.39)	0.55	(0.16)	0.30	(0.18)	0.79

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