WisdomTree Physical Correlations

PHAG Etf

EUR 60.58 0.35 0.58%

The current 90-days correlation between WisdomTree Physical and iShares III Public is -0.02 (i.e., Good diversification). The correlation of WisdomTree Physical 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 Physical Correlation With Market

Poor diversification

The correlation between WisdomTree Physical Silver and DJI is 0.75 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding WisdomTree Physical Silver and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to WisdomTree Physical 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 Physical 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 Physical - 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 Physical Silver to buy it.

Moving together with WisdomTree Etf

0.81	FXGD	FinEx Physically Gold	Pair Corr
0.9	AUCO	LG Gold Mining	Pair Corr
0.73	ITWN	iShares MSCI Taiwan	Pair Corr
0.65	SXLI	SPDR SP Industrials	Pair Corr
0.78	CEUU	iShares Core MSCI	Pair Corr
0.81	SEMI	iShares MSCI Global	Pair Corr
0.71	IUES	iShares SP 500	Pair Corr
0.87	PHPT	WisdomTree Physical	Pair Corr
0.79	IMAE	iShares Core MSCI	Pair Corr
0.82	IDJG	iShares EURO Total	Pair Corr
0.71	INRA	iShares Global Clean	Pair Corr
0.91	BATT	Legal General UCITS	Pair Corr
0.73	EXCH	iShares MSCI EM	Pair Corr
0.8	CSX5	iShares VII PLC	Pair Corr
0.66	ICOW	Pacer Developed Markets	Pair Corr
0.75	ISFA	iShares Core FTSE	Pair Corr
0.61	IJPE	iShares MSCI Japan	Pair Corr
0.73	ERND	iShares USD Ultrashort	Pair Corr
0.73	IKRA	iShares Public	Pair Corr
0.69	COWZ	Pacer Us Cash	Pair Corr
0.75	RTWO	LG Russell 2000	Pair Corr
0.71	VAPX	Vanguard FTSE Developed	Pair Corr
0.77	ISED	iShares MSCI Europe	Pair Corr
0.79	IWDE	iShares MSCI World	Pair Corr
0.77	DHYD	iShares II plc	Pair Corr
0.66	V20D	Vanguard LifeStrategy	Pair Corr

Moving against WisdomTree Etf

0.32

SXLK

SSgA SPDR ETFs

Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		-0.32	-0.37	0.39	0.13	-0.44	-0.06	0.36	0.39	0.36	META
MSFT	-0.32		0.82	-0.58	-0.74	0.74	0.86	0.07	-0.87	-0.92	MSFT
UBER	-0.37	0.82		-0.53	-0.61	0.81	0.63	-0.09	-0.8	-0.79	UBER
F	0.39	-0.58	-0.53		0.19	-0.48	-0.33	0.27	0.74	0.64	F
T	0.13	-0.74	-0.61	0.19		-0.51	-0.8	-0.16	0.54	0.65	T
A	-0.44	0.74	0.81	-0.48	-0.51		0.56	-0.02	-0.67	-0.8	A
CRM	-0.06	0.86	0.63	-0.33	-0.8	0.56		0.43	-0.66	-0.84	CRM
JPM	0.36	0.07	-0.09	0.27	-0.16	-0.02	0.43		0.21	-0.1	JPM
MRK	0.39	-0.87	-0.8	0.74	0.54	-0.67	-0.66	0.21		0.87	MRK
XOM	0.36	-0.92	-0.79	0.64	0.65	-0.8	-0.84	-0.1	0.87		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

XOM	+ 0.87	MRK
CRM	+ 0.86	MSFT
UBER	+ 0.82	MSFT
A	+ 0.81	UBER
A	+ 0.74	MSFT
MRK	+ 0.74	F

High negative correlations

XOM	- 0.92	MSFT
MRK	- 0.87	MSFT
XOM	- 0.84	CRM
XOM	- 0.8	A
CRM	- 0.8	T
MRK	- 0.8	UBER

WisdomTree Physical Competition Risk-Adjusted Indicators

There is a big difference between WisdomTree Etf performing well and WisdomTree Physical 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 Physical'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	1.48	0.06	0.03	0.13	1.43	(1.79)	3.43	(2.60)	13.69
MSFT	1.31	(0.36)	0.00	(1.07)	0.00	0.00	1.90	(2.74)	13.28
UBER	1.54	(0.36)	0.00	(0.71)	0.00	0.00	2.46	(3.82)	11.09
F	1.20	0.03	0.02	0.09	1.21	(1.45)	3.34	(2.30)	7.16
T	1.01	0.14	0.08	28.20	0.94	(1.19)	3.87	(1.76)	7.44
A	1.23	(0.29)	0.00	(0.18)	0.00	0.00	2.90	(2.58)	7.85
CRM	1.70	(0.43)	0.00	(0.39)	0.00	0.00	2.94	(4.75)	12.37
JPM	1.21	(0.08)	(0.03)	0.00	1.66	(1.30)	2.34	(2.63)	7.38
MRK	1.28	0.39	0.28	0.63	0.97	(1.54)	2.93	(1.98)	8.74
XOM	1.27	0.37	0.23	1.41	1.06	(1.46)	2.90	(2.12)	6.83

Be your own money manager

Our tools can tell you how much better you can do entering a position in WisdomTree Physical 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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