WisdomTree Natural Correlations

The current 90-days correlation between WisdomTree Natural Gas and WisdomTree Battery Solutions is -0.07 (i.e., Good diversification). The correlation of WisdomTree Natural is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak. If the correlation is 0, the equities are not correlated; they are entirely random.

WisdomTree Natural Correlation With Market

Very good diversification

The correlation between WisdomTree Natural Gas and DJI is -0.34 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding WisdomTree Natural Gas and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to WisdomTree Natural could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace WisdomTree Natural when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back WisdomTree Natural - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling WisdomTree Natural Gas to buy it.

Moving against WisdomTree Etf

0.61	3LRR	GraniteShares 3x Long	Pair Corr
0.52	N4US	Invesco JPX Nikkei	Pair Corr
0.5	LEMV	Ossiam Europe ESG	Pair Corr
0.49	ARMR	GLOBAL X ETFS	Pair Corr
0.49	CBND	Goldman Sachs Access	Pair Corr
0.47	TSM3	Leverage Shares 3x	Pair Corr
0.44	VAGU	Vanguard Global Aggregate	Pair Corr
0.42	FTWG	Invesco FTSE All	Pair Corr
0.41	IWVL	iShares Edge MSCI	Pair Corr
0.41	LDCU	PIMCO Low Duration	Pair Corr
0.4	SGQX	Lyxor SG Global	Pair Corr
0.39	2MU	Leverage Shares 2x	Pair Corr
0.39	SGQD	Lyxor SG Global	Pair Corr
0.38	LITM	iShares Lithium Battery	Pair Corr
0.37	OIGB	Vaneck Ucits Etfs	Pair Corr
0.49	EMAS	SSgA SPDR ETFs	Pair Corr
0.49	ASHR	Xtrackers Harvest CSI300	Pair Corr
0.49	VHYG	Vanguard FTSE All	Pair Corr
0.48	EMPR	Franklin Libertyshares	Pair Corr
0.48	XSNR	Xtrackers Stoxx	Pair Corr
0.48	IB01	iShares Treasury Bond	Pair Corr
0.48	EUHD	PowerShares EURO STOXX	Pair Corr
0.47	WNDU	SPDR MSCI World	Pair Corr
0.46	VJPA	Vanguard FTSE Japan	Pair Corr
0.45	XMMD	Xtrackers MSCI	Pair Corr
0.44	HPRA	HSBC FTSE EPRA	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		-0.24	-0.29	0.37	0.12	-0.39	-0.04	0.35	0.3	0.32	META
MSFT	-0.24		0.83	-0.59	-0.8	0.77	0.89	0.15	-0.88	-0.93	MSFT
UBER	-0.29	0.83		-0.54	-0.69	0.83	0.68	0.0	-0.8	-0.81	UBER
F	0.37	-0.59	-0.54		0.25	-0.5	-0.36	0.23	0.74	0.65	F
T	0.12	-0.8	-0.69	0.25		-0.58	-0.82	-0.2	0.63	0.7	T
A	-0.39	0.77	0.83	-0.5	-0.58		0.61	0.04	-0.7	-0.82	A
CRM	-0.04	0.89	0.68	-0.36	-0.82	0.61		0.46	-0.72	-0.86	CRM
JPM	0.35	0.15	0.0	0.23	-0.2	0.04	0.46		0.12	-0.15	JPM
MRK	0.3	-0.88	-0.8	0.74	0.63	-0.7	-0.72	0.12		0.89	MRK
XOM	0.32	-0.93	-0.81	0.65	0.7	-0.82	-0.86	-0.15	0.89		XOM
	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM

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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

CRM	+ 0.89	MSFT
XOM	+ 0.89	MRK
UBER	+ 0.83	MSFT
A	+ 0.83	UBER
A	+ 0.77	MSFT
MRK	+ 0.74	F

High negative correlations

XOM	- 0.93	MSFT
MRK	- 0.88	MSFT
XOM	- 0.86	CRM
XOM	- 0.82	A
CRM	- 0.82	T
XOM	- 0.81	UBER

WisdomTree Natural Competition Risk-Adjusted Indicators

There is a big difference between WisdomTree Etf performing well and WisdomTree Natural 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 Natural'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
META	1.52	0.05	0.02	0.12	1.51	(1.78)	3.43	(2.81)	13.69
MSFT	1.34	(0.43)	0.00	(0.88)	0.00	0.00	1.90	(2.87)	13.28
UBER	1.61	(0.43)	0.00	(0.57)	0.00	0.00	2.46	(4.25)	11.09
F	1.23	0.05	0.03	0.12	1.22	(1.46)	3.34	(2.30)	7.16
T	1.02	0.20	0.11	(1.79)	0.92	(1.18)	3.87	(1.76)	7.44
A	1.26	(0.29)	0.00	(0.20)	0.00	0.00	2.90	(2.72)	7.85
CRM	1.71	(0.48)	0.00	(0.39)	0.00	0.00	2.94	(4.75)	12.37
JPM	1.24	(0.10)	(0.04)	0.00	1.80	(1.29)	2.34	(3.11)	7.38
MRK	1.28	0.41	0.28	0.75	0.98	(1.50)	2.93	(1.98)	8.74
XOM	1.30	0.38	0.22	3.43	1.12	(1.49)	2.90	(2.44)	6.83

Be your own money manager

Our tools can tell you how much better you can do entering a position in WisdomTree Natural without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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