Correlation Between Harbor ETF and WisdomTree International
Can any of the company-specific risk be diversified away by investing in both Harbor ETF and WisdomTree International at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining Harbor ETF and WisdomTree International into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Harbor ETF Trust and WisdomTree International Multifactor, you can compare the effects of market volatilities on Harbor ETF and WisdomTree International and check how they will diversify away market risk if combined in the same portfolio for a given time horizon. You can also utilize pair trading strategies of matching a long position in Harbor ETF with a short position of WisdomTree International. Check out your portfolio center. Please also check ongoing floating volatility patterns of Harbor ETF and WisdomTree International.
Diversification Opportunities for Harbor ETF and WisdomTree International
0.93 | Correlation Coefficient |
Almost no diversification
The 3 months correlation between Harbor and WisdomTree is 0.93. Overlapping area represents the amount of risk that can be diversified away by holding Harbor ETF Trust and WisdomTree International Multi in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on WisdomTree International and Harbor ETF is a relative statistical measure of the degree to which these equity instruments tend to move together. The correlation coefficient measures the extent to which returns on Harbor ETF Trust are associated (or correlated) with WisdomTree International. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of WisdomTree International has no effect on the direction of Harbor ETF i.e., Harbor ETF and WisdomTree International go up and down completely randomly.
Pair Corralation between Harbor ETF and WisdomTree International
Given the investment horizon of 90 days Harbor ETF Trust is expected to generate 1.49 times more return on investment than WisdomTree International. However, Harbor ETF is 1.49 times more volatile than WisdomTree International Multifactor. It trades about 0.27 of its potential returns per unit of risk. WisdomTree International Multifactor is currently generating about 0.35 per unit of risk. If you would invest 2,171 in Harbor ETF Trust on November 20, 2025 and sell it today you would earn a total of 316.00 from holding Harbor ETF Trust or generate 14.56% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Harbor ETF Trust vs. WisdomTree International Multi
Performance |
| Timeline |
| Harbor ETF Trust |
| WisdomTree International |
Harbor ETF and WisdomTree International Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Harbor ETF and WisdomTree International
The main advantage of trading using opposite Harbor ETF and WisdomTree International positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Harbor ETF position performs unexpectedly, WisdomTree International can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in WisdomTree International will offset losses from the drop in WisdomTree International's long position.| Harbor ETF vs. iShares Environmentally Aware | Harbor ETF vs. ETF Series Solutions | Harbor ETF vs. The Advisors Inner | Harbor ETF vs. iShares MSCI Emerging |
| WisdomTree International vs. First Trust Emerging | WisdomTree International vs. First Trust STOXX | WisdomTree International vs. First Trust Small | WisdomTree International vs. John Hancock Multifactor |
Check out your portfolio center.Note that this page's information should be used as a complementary analysis to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Portfolio Anywhere module to track or share privately all of your investments from the convenience of any device.
Other Complementary Tools
| Portfolio Diagnostics Use generated alerts and portfolio events aggregator to diagnose current holdings | |
| Risk-Return Analysis View associations between returns expected from investment and the risk you assume | |
| Content Syndication Quickly integrate customizable finance content to your own investment portal | |
| Stock Screener Find equities using a custom stock filter or screen asymmetry in trading patterns, price, volume, or investment outlook. | |
| Pair Correlation Compare performance and examine fundamental relationship between any two equity instruments |