WisdomTree Cloud Correlations

WTEJ Etf

EUR 22.92 0.15 0.65%

The current 90-days correlation between WisdomTree Cloud Com and WisdomTree Global Ex USA is 0.02 (i.e., Significant diversification). The correlation of WisdomTree Cloud 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 Cloud Correlation With Market

Excellent diversification

The correlation between WisdomTree Cloud Computing and DJI is -0.61 (i.e., Excellent diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding WisdomTree Cloud Computing and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to WisdomTree Cloud 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 Cloud 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 Cloud - 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 Cloud Computing to buy it.

Moving together with WisdomTree Etf

0.88	L0CK	iShares Digital Security	Pair Corr
0.62	BNXG	Invesco CoinShares Global	Pair Corr
0.91	ESP0	VanEck Vectors Video	Pair Corr
0.85	QDVE	iShares SP 500	Pair Corr
0.83	XDWT	Xtrackers MSCI World	Pair Corr
0.88	EMQQ	HANetf ICAV	Pair Corr
0.85	ZPDT	SPDR SP Technology	Pair Corr

Moving against WisdomTree Etf

0.95	QDVF	iShares SP 500	Pair Corr
0.93	DVDE	Franklin European Quality	Pair Corr
0.93	IQQB	iShares Public	Pair Corr
0.9	ZPRL	SPDR EURO STOXX	Pair Corr
0.89	PEML	PIMCO Emerging Markets	Pair Corr
0.86	JREE	JPMorgan ETFs ICAV	Pair Corr
0.82	EAH	Lyxor Euro Government	Pair Corr
0.8	EXI1	iShares SLI UCITS	Pair Corr
0.8	EXV4	iShares STOXX Europe	Pair Corr
0.78	M9SD	Market Access NYSE	Pair Corr
0.77	UEFD	UBS Fund Solutions	Pair Corr
0.76	IROB	Legal General UCITS	Pair Corr
0.76	DBX4	Xtrackers MSCI	Pair Corr
0.76	FRCJ	UBS MSCI Japan	Pair Corr
0.68	XDDX	Xtrackers DAX Income	Pair Corr
0.49	EL4F	Deka DAX UCITS	Pair Corr
0.47	XCHA	Xtrackers CSI300	Pair Corr
0.46	IUS2	iShares SP Banks	Pair Corr
0.39	ELCR	Lyxor Index Fund	Pair Corr
0.38	DBPE	Xtrackers LevDAX	Pair Corr
0.92	EUNY	iShares Emerging Market	Pair Corr
0.91	XDEP	Xtrackers Plc	Pair Corr
0.91	EGV7	MULTI UNITS LUXEMBOURG	Pair Corr
0.9	EXX7	iShares Nikkei 225	Pair Corr
0.9	CEBG	iShares VII Public	Pair Corr
0.9	DBX8	Xtrackers MSCI	Pair Corr
0.9	DBX8	Xtrackers MSCI	Pair Corr
0.9	IUS4	iShares III Public	Pair Corr
0.89	IQQP	iShares Public	Pair Corr

Related Correlations Analysis

	OD7F	WATT	2CAR	VZLC	US9L	WRNW	WCO2	WTDY	DGXU
OD7F		0.54	-0.7	0.43	-0.33	0.76	-0.74	0.74	0.67	OD7F
WATT	0.54		-0.56	0.88	0.25	0.8	-0.1	0.54	0.82	WATT
2CAR	-0.7	-0.56		-0.6	0.31	-0.64	0.38	-0.59	-0.58	2CAR
VZLC	0.43	0.88	-0.6		0.2	0.73	-0.01	0.47	0.72	VZLC
US9L	-0.33	0.25	0.31	0.2		-0.04	0.58	-0.26	0.01	US9L
WRNW	0.76	0.8	-0.64	0.73	-0.04		-0.56	0.88	0.96	WRNW
WCO2	-0.74	-0.1	0.38	-0.01	0.58	-0.56		-0.75	-0.5	WCO2
WTDY	0.74	0.54	-0.59	0.47	-0.26	0.88	-0.75		0.89	WTDY
DGXU	0.67	0.82	-0.58	0.72	0.01	0.96	-0.5	0.89		DGXU
	OD7F	WATT	2CAR	VZLC	US9L	WRNW	WCO2	WTDY	DGXU

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

DGXU	+ 0.96	WRNW
DGXU	+ 0.89	WTDY
VZLC	+ 0.88	WATT
WTDY	+ 0.88	WRNW
DGXU	+ 0.82	WATT
WRNW	+ 0.8	WATT

High negative correlations

WTDY	- 0.75	WCO2
WCO2	- 0.74	OD7F
2CAR	- 0.7	OD7F
WRNW	- 0.64	2CAR
VZLC	- 0.6	2CAR
WTDY	- 0.59	2CAR

WisdomTree Cloud Constituents Risk-Adjusted Indicators

There is a big difference between WisdomTree Etf performing well and WisdomTree Cloud 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 Cloud'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
OD7F	1.44	0.41	0.19	(1.40)	1.39	(1.60)	3.67	(2.61)	9.65
WATT	1.01	0.17	0.11	1.54	1.05	(1.13)	1.96	(2.23)	7.45
2CAR	1.97	(0.20)	0.00	(2.81)	0.00	0.00	4.94	(5.26)	16.33
VZLC	3.68	0.82	0.12	1.43	5.72	(3.85)	7.08	(7.70)	32.10
US9L	1.61	(0.08)	0.00	(0.02)	0.00	0.00	3.07	(4.06)	11.38
WRNW	1.16	0.14	0.07	0.37	1.52	(1.16)	2.38	(2.27)	6.71
WCO2	1.60	(0.19)	0.00	(2.09)	0.00	0.00	3.01	(3.82)	10.54
WTDY	0.52	0.10	0.13	0.81	0.39	(0.64)	1.30	(1.04)	3.18
DGXU	0.56	0.08	0.05	0.97	0.87	(0.54)	1.10	(1.35)	2.97

Be your own money manager

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