WisdomTree Natural Correlations

Etfs . France . 
Etf . WisdomTree Natural Gas
NGASP Etf  EUR 5.01  0.19  3.94%   
The current 90-days correlation between WisdomTree Natural Gas and Lyxor Index Fund is -0.33 (i.e., Very 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

Excellent diversification

The correlation between WisdomTree Natural Gas and DJI is -0.53 (i.e., Excellent 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

  0.63CACC Lyxor CAC 40PairCorr
  0.62CAC Amundi CAC 40PairCorr
  0.58MSE Amundi EURO STOXXPairCorr
  0.57COPAP WisdomTree Copper EURPairCorr
  0.56IWDS iShares MSCI WorldPairCorr
  0.52JPNH Lyxor UCITS JapanPairCorr
  0.47JPN Lyxor UCITS JapanPairCorr
  0.47EMLD SSgA SPDR ETFsPairCorr
  0.43CD9 Amundi MSCI EuropePairCorr
  0.38AIGPP WisdomTree PreciousPairCorr
  0.68FMI Amundi Index SolutionsPairCorr
  0.63MIB Lyxor FTSE MIBPairCorr
  0.61DFND iShares Global AerospacePairCorr
  0.58CMU Amundi MSCI EMUPairCorr
  0.56WEMT2 BNP Paribas EasyPairCorr
  0.56ETZD BNP Paribas EasyPairCorr
  0.55ETZ BNP Paribas EasyPairCorr
  0.55CEU Amundi Index SolutionsPairCorr
  0.48LC39 Amundi Index SolutionsPairCorr
  0.47MJP HSBC MSCI JapanPairCorr
  0.46EMIS BNP Paribas EasyPairCorr
  0.45APX Lyxor UCITS MSCIPairCorr
  0.44AEJ Lyxor UCITS MSCIPairCorr
  0.43AEEM Amundi Index SolutionsPairCorr
  0.42LEM Multi Units FrancePairCorr
  0.7C4D Amundi Index SolutionsPairCorr
  0.6EUSRI Amundi Index SolutionsPairCorr
  0.58LVE Amundi EURO STOXXPairCorr
  0.56HEU HSBC MSCI EuropePairCorr
  0.55MEU Lyxor UCITS MSCIPairCorr
  0.54CM9 Amundi ETF MSCIPairCorr
  0.52CD8 Amundi ETF MSCIPairCorr
  0.5CJ1 Amundi Index SolutionsPairCorr

Related Correlations Analysis


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
+ 0.93
MSFT
XOM
+ 0.92
MRK
A
+ 0.85
UBER
UBER
+ 0.84
MSFT
A
+ 0.81
MSFT
MRK
+ 0.77
T
  

High negative correlations

XOM
- 0.94
MSFT
MRK
- 0.92
MSFT
XOM
- 0.91
CRM
T
- 0.86
MSFT
XOM
- 0.85
A
CRM
- 0.85
T

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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
META  1.50  0.05  0.02  0.13  1.55 
(1.67)
 3.43 
(2.81)
 13.69 
MSFT  1.34 (0.29) 0.00 (0.49) 0.00 
 0.00 
 2.19 
(2.87)
 13.28 
UBER  1.57 (0.17) 0.00 (0.27) 0.00 
 0.00 
 2.70 
(3.82)
 11.09 
F  1.27  0.00  0.00  0.07  1.37 
(1.52)
 3.61 
(2.30)
 7.50 
T  1.03  0.17  0.07 (0.78) 0.94 
(1.22)
 3.87 
(1.76)
 7.44 
A  1.24 (0.46) 0.00 (0.38) 0.00 
 0.00 
 2.48 
(2.73)
 7.20 
CRM  1.82 (0.31) 0.00 (0.18) 0.00 
 0.00 
 3.66 
(4.75)
 12.37 
JPM  1.28 (0.11)(0.03) 0.01  1.84 
(1.30)
 2.34 
(3.11)
 8.17 
MRK  1.27  0.27  0.16  0.59  1.18 
(1.39)
 2.81 
(2.06)
 8.74 
XOM  1.31  0.44  0.25  10.44  1.07 
(1.56)
 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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