Wisdomtree Digital Correlations

SPXUX Fund

15.61 0.07 0.45%

The current 90-days correlation between Wisdomtree Digital Trust and Wisdomtree Digital Trust is 0.94 (i.e., Almost no diversification). The correlation of Wisdomtree Digital 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 Digital Correlation With Market

Very poor diversification

The correlation between Wisdomtree Digital Trust and DJI is 0.84 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Wisdomtree Digital Trust and DJI in the same portfolio, assuming nothing else is changed.

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Wisdomtree Digital Trust. Also, note that the market value of any mutual fund could be closely tied with the direction of predictive economic indicators such as signals in employment.

Moving together with Wisdomtree Mutual Fund

0.99	TECHX	Wisdomtree Digital Trust	Pair Corr
0.75	FLTTX	Wisdomtree Floating Rate	Pair Corr
1.0	VTSAX	Vanguard Total Stock	Pair Corr
1.0	VFIAX	Vanguard 500 Index	Pair Corr
1.0	VTSMX	Vanguard Total Stock	Pair Corr
1.0	VITSX	Vanguard Total Stock	Pair Corr
1.0	VSMPX	Vanguard Total Stock	Pair Corr
1.0	VSTSX	Vanguard Total Stock	Pair Corr
1.0	VFINX	Vanguard 500 Index	Pair Corr
1.0	VFFSX	Vanguard 500 Index	Pair Corr
1.0	VINIX	Vanguard Institutional	Pair Corr
1.0	VIIIX	Vanguard Institutional	Pair Corr
0.91	DFLAX	Dreyfus Floating Rate	Pair Corr
0.97	QUAZX	Ab Small Cap	Pair Corr
0.84	AMDVX	Mid Cap Value	Pair Corr
0.86	TFLCX	Transamerica Floating	Pair Corr
0.97	VSMAX	Vanguard Small Cap	Pair Corr
0.95	PEVAX	Pace Smallmedium Value	Pair Corr
0.98	JCNAX	Janus Contrarian	Pair Corr
0.99	JHEQX	Jpmorgan Hedged Equity	Pair Corr
0.79	MVTRX	Transamerica Mid Cap	Pair Corr
0.76	THOPX	Thompson Bond	Pair Corr
0.94	EADOX	Eaton Vance Emerging	Pair Corr
0.97	FTAGX	Salient Tactical Growth	Pair Corr
0.64	FIQFX	Fidelity China Region	Pair Corr
0.96	VWNEX	Vanguard Windsor	Pair Corr
0.99	FSPGX	Fidelity Large Cap	Pair Corr
0.91	SMAPX	Salient Mlp Energy	Pair Corr
0.91	CLM	Cornerstone Strategic	Pair Corr
0.78	GUHYX	Victory High Yield	Pair Corr

Moving against Wisdomtree Mutual Fund

0.84	WTLGX	Wisdomtree Digital Trust	Pair Corr
0.81	WTSTX	Wisdomtree Digital Trust	Pair Corr
0.77	WTTSX	Wisdomtree Digital Trust	Pair Corr
0.61	TIPSX	Deutsche Global Inflation	Pair Corr

Related Correlations Analysis

	TECHX	WTLGX	WTSIX	WTSYX	WTSTX	WTTSX	TIPSX	FLTTX	SPXUX
TECHX		-0.84	-0.02	-0.02	-0.82	-0.77	-0.61	0.73	0.99	TECHX
WTLGX	-0.84		0.44	0.23	0.99	0.97	0.89	-0.86	-0.84	WTLGX
WTSIX	-0.02	0.44		0.55	0.51	0.59	0.69	-0.34	0.01	WTSIX
WTSYX	-0.02	0.23	0.55		0.29	0.36	0.42	-0.21	-0.01	WTSYX
WTSTX	-0.82	0.99	0.51	0.29		0.99	0.94	-0.87	-0.81	WTSTX
WTTSX	-0.77	0.97	0.59	0.36	0.99		0.96	-0.84	-0.77	WTTSX
TIPSX	-0.61	0.89	0.69	0.42	0.94	0.96		-0.81	-0.61	TIPSX
FLTTX	0.73	-0.86	-0.34	-0.21	-0.87	-0.84	-0.81		0.75	FLTTX
SPXUX	0.99	-0.84	0.01	-0.01	-0.81	-0.77	-0.61	0.75		SPXUX
	TECHX	WTLGX	WTSIX	WTSYX	WTSTX	WTTSX	TIPSX	FLTTX	SPXUX

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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

SPXUX	+ 0.99	TECHX
WTSTX	+ 0.99	WTLGX
WTTSX	+ 0.99	WTSTX
WTTSX	+ 0.97	WTLGX
TIPSX	+ 0.96	WTTSX
TIPSX	+ 0.94	WTSTX

High negative correlations

FLTTX	- 0.87	WTSTX
FLTTX	- 0.86	WTLGX
FLTTX	- 0.84	WTTSX
SPXUX	- 0.84	WTLGX
WTLGX	- 0.84	TECHX
WTSTX	- 0.82	TECHX

Risk-Adjusted Indicators

There is a big difference between Wisdomtree Mutual Fund performing well and Wisdomtree Digital Mutual Fund 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 Digital'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
TECHX	0.85	0.00	0.00	0.12	1.13	(0.91)	1.76	(2.64)	5.68
WTLGX	0.61	(0.08)	0.00	0.40	0.00	0.00	1.22	(1.59)	4.15
WTSIX	0.10	0.00	(0.91)	0.03	0.00	(0.14)	0.20	(0.20)	0.59
WTSYX	0.12	0.00	0.00	0.17	0.00	0.00	1.00	0.00	2.00
WTSTX	0.26	(0.04)	0.00	0.50	0.00	0.00	0.62	(0.64)	1.81
WTTSX	0.16	(0.02)	0.00	0.58	0.00	0.00	0.31	(0.31)	1.21
TIPSX	0.20	(0.02)	0.00	(1.55)	0.00	0.00	0.31	(0.52)	1.35
FLTTX	0.03	0.00	0.00	0.30	0.00	0.00	0.00	0.00	1.00
SPXUX	0.57	0.01	0.00	0.14	0.66	(0.65)	1.22	(1.35)	3.95

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