WisdomTree Battery Correlations
| WBAT Etf | USD 26.42 0.76 2.80% |
The current 90-days correlation between WisdomTree Battery Value and WisdomTree Trust is 0.65 (i.e., Poor diversification). The correlation of WisdomTree Battery 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 Battery Correlation With Market
Very weak diversification
The correlation between WisdomTree Battery Value and DJI is 0.48 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding WisdomTree Battery Value and DJI in the same portfolio, assuming nothing else is changed.
WisdomTree |
Moving together with WisdomTree Etf
Moving against WisdomTree Etf
| 0.42 | VBK | Vanguard Small Cap | PairCorr |
| 0.4 | FDN | First Trust Dow | PairCorr |
| 0.35 | IGM | iShares Expanded Tech | PairCorr |
| 0.35 | VTI | Vanguard Total Stock | PairCorr |
| 0.33 | VGT | Vanguard Information | PairCorr |
| 0.33 | IYW | iShares Technology ETF | PairCorr |
| 0.33 | IGV | iShares Expanded Tech | PairCorr |
| 0.33 | GBTC | Grayscale Bitcoin Trust | PairCorr |
| 0.32 | FTEC | Fidelity MSCI Information | PairCorr |
| 0.45 | AXP | American Express | PairCorr |
| 0.45 | BAC | Bank of America | PairCorr |
| 0.43 | HPQ | HP Inc | PairCorr |
| 0.41 | WMT | Walmart | PairCorr |
| 0.31 | JPM | JPMorgan Chase | PairCorr |
Related Correlations Analysis
| Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
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
| High negative correlations
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WisdomTree Battery Constituents Risk-Adjusted Indicators
There is a big difference between WisdomTree Etf performing well and WisdomTree Battery 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 Battery'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| WTAI | 1.66 | (0.13) | 0.00 | (0.14) | 0.00 | 2.87 | 8.92 | |||
| WCBR | 1.45 | 0.01 | 0.00 | (0.05) | 0.00 | 2.28 | 10.12 | |||
| DMAT | 1.06 | 0.10 | 0.11 | 0.23 | 1.14 | 1.90 | 6.29 | |||
| EVMT | 0.68 | 0.12 | 0.25 | (0.94) | 0.56 | 1.73 | 4.11 | |||
| YUMY | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |