Correlation Between OneAscent Small and WisdomTree Inflation
Can any of the company-specific risk be diversified away by investing in both OneAscent Small and WisdomTree Inflation 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 OneAscent Small and WisdomTree Inflation into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between OneAscent Small Cap and WisdomTree Inflation Plus, you can compare the effects of market volatilities on OneAscent Small and WisdomTree Inflation 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 OneAscent Small with a short position of WisdomTree Inflation. Check out your portfolio center. Please also check ongoing floating volatility patterns of OneAscent Small and WisdomTree Inflation.
Diversification Opportunities for OneAscent Small and WisdomTree Inflation
0.91 | Correlation Coefficient |
Almost no diversification
The 3 months correlation between OneAscent and WisdomTree is 0.91. Overlapping area represents the amount of risk that can be diversified away by holding OneAscent Small Cap and WisdomTree Inflation Plus in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on WisdomTree Inflation Plus and OneAscent Small 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 OneAscent Small Cap are associated (or correlated) with WisdomTree Inflation. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of WisdomTree Inflation Plus has no effect on the direction of OneAscent Small i.e., OneAscent Small and WisdomTree Inflation go up and down completely randomly.
Pair Corralation between OneAscent Small and WisdomTree Inflation
Given the investment horizon of 90 days OneAscent Small Cap is expected to generate 0.88 times more return on investment than WisdomTree Inflation. However, OneAscent Small Cap is 1.14 times less risky than WisdomTree Inflation. It trades about 0.09 of its potential returns per unit of risk. WisdomTree Inflation Plus is currently generating about 0.04 per unit of risk. If you would invest 2,865 in OneAscent Small Cap on November 8, 2025 and sell it today you would earn a total of 141.80 from holding OneAscent Small Cap or generate 4.95% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Strong |
| Accuracy | 98.36% |
| Values | Daily Returns |
OneAscent Small Cap vs. WisdomTree Inflation Plus
Performance |
| Timeline |
| OneAscent Small Cap |
| WisdomTree Inflation Plus |
OneAscent Small and WisdomTree Inflation Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with OneAscent Small and WisdomTree Inflation
The main advantage of trading using opposite OneAscent Small and WisdomTree Inflation positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if OneAscent Small position performs unexpectedly, WisdomTree Inflation 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 Inflation will offset losses from the drop in WisdomTree Inflation's long position.| OneAscent Small vs. First Trust Horizon | OneAscent Small vs. Innovator ETFs Trust | OneAscent Small vs. VanEck Gaming ETF | OneAscent Small vs. Innovator ETFs Trust |
| WisdomTree Inflation vs. WisdomTree MidCap Quality | WisdomTree Inflation vs. Litman Gregory Funds | WisdomTree Inflation vs. Tidal Trust II | WisdomTree Inflation vs. Tidal Trust II |
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 My Watchlist Analysis module to analyze my current watchlist and to refresh optimization strategy. Macroaxis watchlist is based on self-learning algorithm to remember stocks you like.
Other Complementary Tools
| ETFs Find actively traded Exchange Traded Funds (ETF) from around the world | |
| Efficient Frontier Plot and analyze your portfolio and positions against risk-return landscape of the market. | |
| Insider Screener Find insiders across different sectors to evaluate their impact on performance | |
| Theme Ratings Determine theme ratings based on digital equity recommendations. Macroaxis theme ratings are based on combination of fundamental analysis and risk-adjusted market performance | |
| Risk-Return Analysis View associations between returns expected from investment and the risk you assume |