WisdomTree Natural Correlations

OD7L Etf

4.86 0.48 10.96%

The current 90-days correlation between WisdomTree Natural Gas and WisdomTree WTI Crude is 0.11 (i.e., Average 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.

WisdomTree Natural Correlation With Market

Good diversification

The correlation between WisdomTree Natural Gas and DJI is -0.05 (i.e., 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

0.84	UIW1	UBSFund Solutions MSCI	Pair Corr
0.76	EXSE	iShares STOXX Europe	Pair Corr
0.73	NAQ	Nasdaq	Pair Corr
0.67	DVDE	Franklin European Quality	Pair Corr
0.66	XSXE	Xtrackers Stoxx	Pair Corr
0.66	DELF	Legal General Ucits	Pair Corr
0.65	GQ9	SPDR Gold Shares	Pair Corr
0.65	VALU	BNP Paribas Easy	Pair Corr
0.63	UET5	UBS ETF SICAV	Pair Corr
0.61	DBXE	Xtrackers Euro	Pair Corr
0.59	IBC3	iShares Core MSCI	Pair Corr
0.59	SC0R	Invesco Markets plc	Pair Corr
0.58	IS3N	iShares Core MSCI	Pair Corr
0.58	DVDG	Franklin Global Quality	Pair Corr
0.51	VWCE	Vanguard FTSE All	Pair Corr
0.51	DWLD	Franklin FTSE Developed	Pair Corr
0.51	H416	HSBC Plus World	Pair Corr
0.5	UIM5	UBS Fund Solutions	Pair Corr
0.5	BATE	LG Battery Value	Pair Corr
0.43	5MVL	iShares Edge MSCI	Pair Corr
0.34	XDJP	Xtrackers Nikkei 225	Pair Corr
0.34	SXRZ	iShares VII PLC	Pair Corr
0.34	EXX7	iShares Nikkei 225	Pair Corr
0.34	ESEH	BNP Paribas Easy	Pair Corr
0.81	LIGS	Lyxor Index Fund	Pair Corr
0.78	DBPE	Xtrackers LevDAX	Pair Corr
0.77	DFEN	VanEck Defense ETF	Pair Corr
0.74	E908	Lyxor 1	Pair Corr
0.7	SC05	Invesco Markets plc	Pair Corr
0.7	EMNE	iShares MSCI EMU	Pair Corr
0.68	PPFD	iShares Physical Silver	Pair Corr
0.67	EXSI	iShares EURO STOXX	Pair Corr
0.66	EMXC	Amundi MSCI Emerging	Pair Corr
0.66	DBX5	Xtrackers MSCI	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.6	0.32	-0.39	0.24	-0.24	0.43	-0.19	-0.35	-0.43	META
MSFT	0.6		0.8	-0.55	0.48	0.06	0.13	-0.45	-0.84	-0.7	MSFT
UBER	0.32	0.8		-0.49	0.44	0.32	-0.14	-0.5	-0.81	-0.54	UBER
F	-0.39	-0.55	-0.49		-0.71	0.09	0.24	0.66	0.71	0.73	F
T	0.24	0.48	0.44	-0.71		0.32	-0.45	-0.6	-0.51	-0.64	T
A	-0.24	0.06	0.32	0.09	0.32		-0.5	-0.26	-0.06	-0.09	A
CRM	0.43	0.13	-0.14	0.24	-0.45	-0.5		0.52	0.11	0.02	CRM
JPM	-0.19	-0.45	-0.5	0.66	-0.6	-0.26	0.52		0.64	0.52	JPM
MRK	-0.35	-0.84	-0.81	0.71	-0.51	-0.06	0.11	0.64		0.79	MRK
XOM	-0.43	-0.7	-0.54	0.73	-0.64	-0.09	0.02	0.52	0.79		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

UBER	+ 0.8	MSFT
XOM	+ 0.79	MRK
XOM	+ 0.73	F
MRK	+ 0.71	F
JPM	+ 0.66	F
MRK	+ 0.64	JPM

High negative correlations

MRK	- 0.84	MSFT
MRK	- 0.81	UBER
T	- 0.71	F
XOM	- 0.7	MSFT
XOM	- 0.64	T
JPM	- 0.6	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 Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
META	1.32	(0.28)	0.00	(0.20)	0.00	0.00	2.30	(2.67)	13.46
MSFT	0.94	(0.21)	0.00	(0.38)	0.00	0.00	1.65	(2.50)	4.90
UBER	1.46	(0.23)	0.00	(0.17)	0.00	0.00	2.60	(3.82)	10.23
F	1.42	0.13	0.12	0.18	1.27	(1.72)	3.38	(2.35)	16.30
T	0.89	(0.18)	0.00	(0.42)	0.00	0.00	1.53	(1.85)	4.30
A	1.14	(0.09)	(0.05)	0.02	1.39	(1.20)	2.34	(2.22)	6.50
CRM	1.57	(0.16)	0.00	(0.06)	0.00	0.00	3.66	(2.92)	12.37
JPM	1.12	(0.07)	(0.02)	0.04	1.59	(1.13)	2.00	(2.34)	7.38
MRK	1.23	0.32	0.23	0.44	1.01	(1.55)	3.59	(1.98)	8.09
XOM	1.07	0.23	0.12	2.92	0.98	(1.24)	2.37	(1.51)	5.82

WisdomTree Natural Related Equities

One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with WisdomTree Natural etf to make a market-neutral strategy. Peer analysis of WisdomTree Natural could also be used in its relative valuation, which is a method of valuing WisdomTree Natural by comparing valuation metrics with similar companies.

WisdomTree WTI Crude WisdomTree Battery Metals WisdomTree STOXX Europe WisdomTree Physical Silver WisdomTree SP 500 WisdomTree Renewable Energy WisdomTree Carbon WisdomTree Issuer ICAV WisdomTree Global Ex USA American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup SentinelOne

Risk & Return

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