WisdomTree Physical Correlations

VZLC Etf

64.97 2.89 4.66%

The current 90-days correlation between WisdomTree Physical and WisdomTree Global Ex USA is -0.16 (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.

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

0.86	LYBK	Lyxor UCITS Stoxx	Pair Corr
0.86	EXX1	iShares EURO STOXX	Pair Corr
0.86	EXX1	iShares EURO STOXX	Pair Corr
0.85	S7XE	Invesco EURO STOXX	Pair Corr
0.88	EXV1	iShares STOXX Europe	Pair Corr
0.86	SC0U	Invesco Markets plc	Pair Corr
0.93	ETLX	LG Gold Mining	Pair Corr
0.91	UBUD	UBS ETF Public	Pair Corr
0.93	ETLX	LG Gold Mining	Pair Corr
0.7	E908	Lyxor 1 TecDAX	Pair Corr
0.75	E908	Lyxor 1	Pair Corr
0.78	DBPE	Xtrackers LevDAX	Pair Corr

Moving against WisdomTree Etf

0.8

DBPD

Xtrackers ShortDAX

Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		-0.45	-0.5	0.46	0.12	-0.56	-0.11	0.33	0.51	0.46	META
MSFT	-0.45		0.78	-0.5	-0.56	0.69	0.79	0.03	-0.83	-0.9	MSFT
UBER	-0.5	0.78		-0.43	-0.36	0.76	0.49	-0.13	-0.79	-0.73	UBER
F	0.46	-0.5	-0.43		-0.1	-0.38	-0.19	0.35	0.65	0.58	F
T	0.12	-0.56	-0.36	-0.1		-0.27	-0.68	-0.08	0.3	0.46	T
A	-0.56	0.69	0.76	-0.38	-0.27		0.44	-0.07	-0.6	-0.76	A
CRM	-0.11	0.79	0.49	-0.19	-0.68	0.44		0.43	-0.51	-0.8	CRM
JPM	0.33	0.03	-0.13	0.35	-0.08	-0.07	0.43		0.24	-0.05	JPM
MRK	0.51	-0.83	-0.79	0.65	0.3	-0.6	-0.51	0.24		0.8	MRK
XOM	0.46	-0.9	-0.73	0.58	0.46	-0.76	-0.8	-0.05	0.8		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	+ 0.8	MRK
CRM	+ 0.79	MSFT
UBER	+ 0.78	MSFT
A	+ 0.76	UBER
A	+ 0.69	MSFT
MRK	+ 0.65	F

High negative correlations

XOM	- 0.9	MSFT
MRK	- 0.83	MSFT
XOM	- 0.8	CRM
MRK	- 0.79	UBER
XOM	- 0.76	A
XOM	- 0.73	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	1.52	0.04	0.01	0.13	1.51	(1.82)	3.43	(2.82)	13.69
MSFT	1.34	(0.34)	0.00	(0.77)	0.00	0.00	1.90	(2.74)	13.28
UBER	1.51	(0.41)	0.00	(0.71)	0.00	0.00	2.41	(3.82)	11.09
F	1.19	0.03	0.01	0.11	1.20	(1.46)	3.38	(2.35)	7.16
T	1.00	0.23	0.16	(9.07)	0.77	(1.17)	3.87	(1.54)	5.31
A	1.25	(0.33)	0.00	(0.18)	0.00	0.00	2.90	(2.73)	7.85
CRM	1.66	(0.44)	0.00	(0.38)	0.00	0.00	2.94	(4.75)	12.37
JPM	1.27	(0.15)	0.00	(0.03)	0.00	0.00	2.34	(3.11)	7.38
MRK	1.33	0.46	0.33	0.76	0.98	(1.68)	3.59	(1.98)	8.74
XOM	1.24	0.38	0.22	1.59	1.14	(1.43)	2.68	(2.12)	5.85

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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