WisdomTree Correlations

WBAT Etf

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The current 90-days correlation between WisdomTree and Simplify Asset Management is 0.14 (i.e., Average diversification). The correlation of WisdomTree 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 Correlation With Market

Weak diversification

The correlation between WisdomTree and DJI is 0.3 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding WisdomTree and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with WisdomTree Etf

Check out Your Current Watchlist to better understand how to build diversified portfolios. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in nation.

Moving together with WisdomTree Etf

0.61	SIXS	6 Meridian Small	Pair Corr
0.72	FROG	Jfrog	Pair Corr

Moving against WisdomTree Etf

0.55	CIBR	First Trust NASDAQ	Pair Corr
0.5	IGV	iShares Expanded Tech Sell-off Trend	Pair Corr
0.49	FDN	First Trust Dow	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.66	0.54	-0.62	0.54	-0.57	0.22	-0.15	-0.56	-0.61	META
MSFT	0.66		0.83	-0.51	0.36	-0.2	0.07	-0.32	-0.77	-0.61	MSFT
UBER	0.54	0.83		-0.61	0.57	-0.27	-0.14	-0.27	-0.85	-0.59	UBER
F	-0.62	-0.51	-0.61		-0.7	0.53	0.3	0.41	0.69	0.75	F
T	0.54	0.36	0.57	-0.7		-0.52	-0.5	-0.21	-0.53	-0.47	T
A	-0.57	-0.2	-0.27	0.53	-0.52		-0.18	-0.26	0.46	0.23	A
CRM	0.22	0.07	-0.14	0.3	-0.5	-0.18		0.37	0.07	0.17	CRM
JPM	-0.15	-0.32	-0.27	0.41	-0.21	-0.26	0.37		0.32	0.41	JPM
MRK	-0.56	-0.77	-0.85	0.69	-0.53	0.46	0.07	0.32		0.65	MRK
XOM	-0.61	-0.61	-0.59	0.75	-0.47	0.23	0.17	0.41	0.65		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	+ 0.83	MSFT
XOM	+ 0.75	F
MRK	+ 0.69	F
MSFT	+ 0.66	META
XOM	+ 0.65	MRK
T	+ 0.57	UBER

High negative correlations

MRK	- 0.85	UBER
MRK	- 0.77	MSFT
T	- 0.7	F
F	- 0.62	META
F	- 0.61	UBER
XOM	- 0.61	MSFT

WisdomTree Competition Risk-Adjusted Indicators

There is a big difference between WisdomTree Etf performing well and WisdomTree 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'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	1.39	(0.24)	0.00	(0.19)	0.00	0.00	2.30	(2.72)	13.52
MSFT	0.90	(0.11)	0.00	(0.11)	0.00	0.00	1.78	(2.50)	5.08
UBER	1.46	(0.35)	0.00	(0.25)	0.00	0.00	2.60	(3.82)	10.51
F	1.51	0.13	0.08	0.16	1.69	(1.65)	3.38	(2.63)	16.30
T	0.97	(0.24)	0.00	(0.75)	0.00	0.00	1.61	(2.18)	5.75
A	1.25	0.07	0.06	0.13	1.31	(1.37)	2.34	(2.21)	11.03
CRM	1.54	0.06	0.03	0.13	1.97	(1.52)	3.66	(2.92)	9.91
JPM	1.05	0.00	0.01	0.07	1.40	(1.05)	2.00	(1.91)	7.02
MRK	1.45	0.40	0.28	0.53	1.08	(1.84)	4.85	(2.06)	11.45
XOM	0.94	0.06	0.01	0.33	0.99	(1.00)	1.96	(1.51)	4.99

WisdomTree 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 etf to make a market-neutral strategy. Peer analysis of WisdomTree could also be used in its relative valuation, which is a method of valuing WisdomTree by comparing valuation metrics with similar companies.

Simplify Asset Management KraneShares IShares Tema Global KDIV Direxion PlanRock Investments USEQ CHIM Global X American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup

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