WisdomTree Europe Correlations

WTEE Etf

EUR 15.51 0.02 0.13%

The current 90-days correlation between WisdomTree Europe Equity and Amundi MSCI World is 0.23 (i.e., Modest diversification). The correlation of WisdomTree Europe 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 Europe Correlation With Market

Very poor diversification

The correlation between WisdomTree Europe Equity and DJI is 0.86 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding WisdomTree Europe Equity and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to WisdomTree Europe 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 Europe 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 Europe - 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 Europe Equity to buy it.

Moving together with WisdomTree Etf

0.96	EXSH	iShares STOXX Europe	Pair Corr
0.93	QDVX	iShares MSCI Europe	Pair Corr
0.97	FLXD	Franklin European Quality	Pair Corr
0.81	VWCE	Vanguard FTSE All	Pair Corr
0.96	VGEK	Vanguard FTSE Developed	Pair Corr
0.98	VALD	BNP Paribas Easy	Pair Corr
0.97	GQEU	Goldman Sachs Alpha	Pair Corr
0.94	ETSZ	Easy ETF	Pair Corr
0.64	EL4T	Deka Deutsche Brse	Pair Corr
0.97	EXSD	iShares STOXX Europe	Pair Corr
0.86	JEAA	JPM EUR Aggregate	Pair Corr
0.95	DVDG	Franklin Global Quality	Pair Corr
0.79	SPYY	SSgA SPDR ETFs	Pair Corr
0.95	DX2X	Xtrackers Stoxx	Pair Corr
0.91	PRAM	Amundi Prime Emerging	Pair Corr
0.83	IUS2	iShares SP Banks	Pair Corr
0.93	SLMB	iShares IV Public	Pair Corr
0.7	SPYC	SSgA SPDR ETFs	Pair Corr
0.91	XESC	Xtrackers EURO STOXX	Pair Corr
0.86	XDWS	Xtrackers MSCI World	Pair Corr
0.81	UBUD	UBS ETF Public	Pair Corr
0.79	C099	Lyxor Bloomberg Equal	Pair Corr
0.66	XYPD	Xtrackers II	Pair Corr
0.67	VGEA	Vanguard EUR Eurozone	Pair Corr
0.95	DBX8	Xtrackers MSCI	Pair Corr
0.92	IUS4	iShares III Public	Pair Corr
0.92	EGV3	MULTI UNITS LUXEMBOURG	Pair Corr
0.69	36BZ	iShares MSCI China	Pair Corr
0.83	LYBK	Lyxor UCITS Stoxx	Pair Corr
0.85	ETLX	LG Gold Mining	Pair Corr
0.96	CHSR	UBSFund Solutions MSCI	Pair Corr
0.91	H410	HSBC MSCI Emerging	Pair Corr
0.73	GSXG	Goldman Sachs Global	Pair Corr
0.85	XDEW	Xtrackers Public	Pair Corr
0.74	LYY8	Multi Units Luxembourg	Pair Corr
0.96	T3MP	JPMorgan ETFs ICAV	Pair Corr

Moving against WisdomTree Etf

0.77

DBPD

Xtrackers ShortDAX

Pair Corr

Related Correlations Analysis

	EXSH	WTEE	FLXD	VGEA	DVDG	JEAA	ETLX	EUN8	WGES
EXSH		0.96	0.9	0.55	0.91	0.77	0.89	0.44	0.87	EXSH
WTEE	0.96		0.97	0.67	0.95	0.86	0.85	0.58	0.79	WTEE
FLXD	0.9	0.97		0.73	0.94	0.88	0.77	0.64	0.69	FLXD
VGEA	0.55	0.67	0.73		0.7	0.93	0.56	0.93	0.44	VGEA
DVDG	0.91	0.95	0.94	0.7		0.87	0.82	0.63	0.77	DVDG
JEAA	0.77	0.86	0.88	0.93	0.87		0.76	0.85	0.64	JEAA
ETLX	0.89	0.85	0.77	0.56	0.82	0.76		0.45	0.87	ETLX
EUN8	0.44	0.58	0.64	0.93	0.63	0.85	0.45		0.34	EUN8
WGES	0.87	0.79	0.69	0.44	0.77	0.64	0.87	0.34		WGES
	EXSH	WTEE	FLXD	VGEA	DVDG	JEAA	ETLX	EUN8	WGES

WisdomTree Europe Constituents Risk-Adjusted Indicators

There is a big difference between WisdomTree Etf performing well and WisdomTree Europe 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 Europe'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
EXSH	0.52	0.14	0.13	0.48	0.55	(0.55)	1.27	(1.12)	3.22
WTEE	0.40	0.13	0.12	0.74	0.36	(0.44)	0.92	(0.75)	3.22
FLXD	0.44	0.13	0.16	2.37	0.22	(0.53)	1.10	(0.87)	2.33
VGEA	0.12	0.00	(0.28)	0.17	0.09	(0.13)	0.29	(0.29)	0.63
DVDG	0.44	0.12	0.13	0.59	0.34	(0.50)	0.96	(0.65)	3.06
JEAA	0.10	0.01	(0.21)	0.43	0.00	(0.14)	0.20	(0.20)	0.59
ETLX	2.27	0.42	0.12	6.71	2.67	(2.43)	4.65	(3.89)	15.47
EUN8	0.21	0.00	(0.16)	0.13	0.26	(0.21)	0.41	(0.52)	1.10
WGES	0.57	0.08	0.03	(0.54)	0.59	(0.63)	1.28	(1.12)	3.71

Be your own money manager

Our tools can tell you how much better you can do entering a position in WisdomTree Europe 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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