Correlation Between Fidelity MSCI and WisdomTree High
Can any of the company-specific risk be diversified away by investing in both Fidelity MSCI and WisdomTree High 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 Fidelity MSCI and WisdomTree High into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Fidelity MSCI Consumer and WisdomTree High Dividend, you can compare the effects of market volatilities on Fidelity MSCI and WisdomTree High 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 Fidelity MSCI with a short position of WisdomTree High. Check out your portfolio center. Please also check ongoing floating volatility patterns of Fidelity MSCI and WisdomTree High.
Diversification Opportunities for Fidelity MSCI and WisdomTree High
0.59 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Fidelity and WisdomTree is 0.59. Overlapping area represents the amount of risk that can be diversified away by holding Fidelity MSCI Consumer and WisdomTree High Dividend in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on WisdomTree High Dividend and Fidelity MSCI 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 Fidelity MSCI Consumer are associated (or correlated) with WisdomTree High. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of WisdomTree High Dividend has no effect on the direction of Fidelity MSCI i.e., Fidelity MSCI and WisdomTree High go up and down completely randomly.
Pair Corralation between Fidelity MSCI and WisdomTree High
Given the investment horizon of 90 days Fidelity MSCI Consumer is expected to under-perform the WisdomTree High. In addition to that, Fidelity MSCI is 1.11 times more volatile than WisdomTree High Dividend. It trades about 0.0 of its total potential returns per unit of risk. WisdomTree High Dividend is currently generating about 0.05 per unit of volatility. If you would invest 9,992 in WisdomTree High Dividend on October 3, 2025 and sell it today you would earn a total of 190.00 from holding WisdomTree High Dividend or generate 1.9% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Fidelity MSCI Consumer vs. WisdomTree High Dividend
Performance |
| Timeline |
| Fidelity MSCI Consumer |
| WisdomTree High Dividend |
Fidelity MSCI and WisdomTree High Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Fidelity MSCI and WisdomTree High
The main advantage of trading using opposite Fidelity MSCI and WisdomTree High positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Fidelity MSCI position performs unexpectedly, WisdomTree High 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 High will offset losses from the drop in WisdomTree High's long position.| Fidelity MSCI vs. First Trust Nasdaq | Fidelity MSCI vs. First Trust Bloomberg | Fidelity MSCI vs. Cambria Cannabis ETF | Fidelity MSCI vs. DoubleLine ETF Trust |
| WisdomTree High vs. WisdomTree Earnings 500 | WisdomTree High vs. Pacer Developed Markets | WisdomTree High vs. iShares Consumer Staples | WisdomTree High vs. iShares MSCI Switzerland |
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 Sync Your Broker module to sync your existing holdings, watchlists, positions or portfolios from thousands of online brokerage services, banks, investment account aggregators and robo-advisors..
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