WisdomTree Enhanced Correlations

WCOM Etf

1,672 8.40 0.50%

The current 90-days correlation between WisdomTree Enhanced and WisdomTree Gold 3x is 0.85 (i.e., Very poor diversification). The correlation of WisdomTree Enhanced 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 Enhanced Correlation With Market

Poor diversification

The correlation between WisdomTree Enhanced Commodity and DJI is 0.79 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding WisdomTree Enhanced Commodity and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to WisdomTree Enhanced 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 Enhanced 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 Enhanced - 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 Enhanced Commodity to buy it.

Moving together with WisdomTree Etf

0.79	3LRR	GraniteShares 3x Long	Pair Corr
0.82	3LBA	GraniteShares 3x Long	Pair Corr
0.77	3BAL	WisdomTree EURO STOXX	Pair Corr
0.96	3LGO	WisdomTree Gold 3x	Pair Corr
0.95	3GOL	WisdomTree Gold 3x	Pair Corr
0.82	SAWD	iShares MSCI World	Pair Corr
0.97	VFEA	Vanguard FTSE Emerging	Pair Corr
0.88	ARMR	GLOBAL X ETFS	Pair Corr
0.94	SDG9	Xtrackers MSCI Global	Pair Corr
0.85	CLMU	Lyxor Green Bond	Pair Corr
0.83	LALU	WisdomTree Aluminium	Pair Corr
0.9	IGIL	iShares Global Inflation	Pair Corr
0.9	RIOL	Lyxor UCITS Brazil	Pair Corr
0.92	TEET	VanEck Sustainable	Pair Corr
0.72	FSEM	Fidelity Sustainable USD	Pair Corr
0.84	SGQD	Lyxor SG Global	Pair Corr
0.88	GDX3	Leverage Shares 3x	Pair Corr
0.77	LGB3	WisdomTree Long GBP	Pair Corr
0.8	FTWG	Invesco FTSE All	Pair Corr
0.78	COWZ	Pacer Cash Cows	Pair Corr
0.73	VEVE	Vanguard FTSE Developed	Pair Corr
0.88	RTWO	LG Russell 2000	Pair Corr
0.76	IDIN	iShares Global Infra	Pair Corr
0.88	IDFN	Invesco Markets II	Pair Corr
0.98	RMAP	Royal Mint Responsibly	Pair Corr
0.91	100H	MULTI UNITS LUXEMBOURG	Pair Corr
0.93	WNDU	SPDR MSCI World	Pair Corr
0.88	FIND	WisdomTree Industrial	Pair Corr
0.96	GLD3	Leverage Shares 3x	Pair Corr
0.91	3KOR	Leverage Shares 3x	Pair Corr
0.84	UIND	First Trust Equity	Pair Corr
0.88	DJMC	iShares EURO STOXX	Pair Corr
0.81	BTEC	iShares Nasdaq Biote	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		-0.12	-0.14	0.13	0.12	-0.31	-0.04	0.23	0.08	0.21	META
MSFT	-0.12		0.84	-0.65	-0.86	0.8	0.93	0.33	-0.91	-0.94	MSFT
UBER	-0.14	0.84		-0.57	-0.77	0.85	0.75	0.19	-0.81	-0.83	UBER
F	0.13	-0.65	-0.57		0.41	-0.59	-0.51	-0.05	0.75	0.7	F
T	0.12	-0.86	-0.77	0.41		-0.65	-0.84	-0.29	0.75	0.76	T
A	-0.31	0.8	0.85	-0.59	-0.65		0.67	0.2	-0.75	-0.84	A
CRM	-0.04	0.93	0.75	-0.51	-0.84	0.67		0.53	-0.82	-0.9	CRM
JPM	0.23	0.33	0.19	-0.05	-0.29	0.2	0.53		-0.13	-0.32	JPM
MRK	0.08	-0.91	-0.81	0.75	0.75	-0.75	-0.82	-0.13		0.92	MRK
XOM	0.21	-0.94	-0.83	0.7	0.76	-0.84	-0.9	-0.32	0.92		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

CRM	+ 0.93	MSFT
XOM	+ 0.92	MRK
A	+ 0.85	UBER
UBER	+ 0.84	MSFT
A	+ 0.8	MSFT
XOM	+ 0.76	T

High negative correlations

XOM	- 0.94	MSFT
MRK	- 0.91	MSFT
XOM	- 0.9	CRM
T	- 0.86	MSFT
XOM	- 0.84	A
CRM	- 0.84	T

WisdomTree Enhanced Competition Risk-Adjusted Indicators

There is a big difference between WisdomTree Etf performing well and WisdomTree Enhanced 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 Enhanced'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	1.54	0.08	0.04	0.17	1.53	(1.74)	3.43	(2.81)	13.69
MSFT	1.33	(0.31)	0.00	(0.50)	0.00	0.00	2.19	(2.87)	13.28
UBER	1.56	(0.19)	0.00	(0.30)	0.00	0.00	2.70	(3.82)	11.09
F	1.22	0.09	0.07	0.17	1.05	(1.50)	3.61	(2.22)	7.50
T	1.05	0.15	0.05	(0.64)	0.99	(1.22)	3.87	(1.76)	7.44
A	1.24	(0.41)	0.00	(0.32)	0.00	0.00	2.48	(2.73)	7.20
CRM	1.80	(0.30)	0.00	(0.18)	0.00	0.00	3.66	(4.75)	12.37
JPM	1.27	(0.11)	(0.03)	0.01	1.83	(1.30)	2.34	(3.11)	8.17
MRK	1.27	0.33	0.20	0.72	1.10	(1.42)	2.81	(2.06)	8.74
XOM	1.32	0.41	0.23	12.19	1.09	(1.57)	2.90	(2.44)	6.83

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