WisdomTree Japan Correlations

DXJ Etf

USD 113.38 0.10 0.09%

The current 90-days correlation between WisdomTree Japan Hedged and Strategy Shares is -0.28 (i.e., Very good diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as WisdomTree Japan moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if WisdomTree Japan Hedged moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

WisdomTree Japan Correlation With Market

Very poor diversification

The correlation between WisdomTree Japan Hedged and DJI is 0.82 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding WisdomTree Japan Hedged and DJI in the same portfolio, assuming nothing else is changed.

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Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in WisdomTree Japan Hedged. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in interest.

Moving together with WisdomTree Etf

0.91	EWJ	iShares MSCI Japan	Pair Corr
0.91	BBJP	JPMorgan BetaBuilders	Pair Corr
0.97	FLJP	Franklin FTSE Japan	Pair Corr
0.93	HEWJ	iShares Currency Hedged	Pair Corr
0.92	DBJP	Xtrackers MSCI Japan	Pair Corr
0.85	DFJ	WisdomTree Japan SmallCap	Pair Corr
0.91	EWJV	iShares MSCI Japan	Pair Corr
0.87	SCJ	iShares MSCI Japan	Pair Corr
0.9	JPXN	iShares JPX Nikkei	Pair Corr
0.96	SIXD	AIM ETF Products	Pair Corr
0.83	PFFL	ETRACS 2xMonthly Pay	Pair Corr
0.94	CEFD	ETRACS Monthly Pay	Pair Corr
0.95	DALI	First Trust Dorsey	Pair Corr
0.71	GOAU	US Global GO	Pair Corr
0.82	JPM	JPMorgan Chase	Pair Corr
0.81	CAT	Caterpillar	Pair Corr
0.79	TRV	The Travelers Companies	Pair Corr
0.7	DD	Dupont De Nemours	Pair Corr
0.86	GE	GE Aerospace	Pair Corr
0.75	PFE	Pfizer Inc Aggressive Push	Pair Corr
0.62	AA	Alcoa Corp	Pair Corr
0.9	BAC	Bank of America Aggressive Push	Pair Corr

Moving against WisdomTree Etf

0.94	VXX	iPath Series B Sell-off Trend	Pair Corr
0.94	VIXY	ProShares VIX Short	Pair Corr

Related Correlations Analysis

	DHSB	MBOX	DIEM	MCHI	DIPS	DISO	DIVB	DIVD	DIVG
DHSB		0.93	0.96	0.88	-0.89	0.94	0.95	0.83	0.88	DHSB
MBOX	0.93		0.91	0.94	-0.75	0.89	0.97	0.87	0.98	MBOX
DIEM	0.96	0.91		0.91	-0.91	0.96	0.96	0.83	0.85	DIEM
MCHI	0.88	0.94	0.91		-0.71	0.86	0.93	0.85	0.93	MCHI
DIPS	-0.89	-0.75	-0.91	-0.71		-0.91	-0.84	-0.67	-0.66	DIPS
DISO	0.94	0.89	0.96	0.86	-0.91		0.96	0.84	0.85	DISO
DIVB	0.95	0.97	0.96	0.93	-0.84	0.96		0.89	0.96	DIVB
DIVD	0.83	0.87	0.83	0.85	-0.67	0.84	0.89		0.87	DIVD
DIVG	0.88	0.98	0.85	0.93	-0.66	0.85	0.96	0.87		DIVG
	DHSB	MBOX	DIEM	MCHI	DIPS	DISO	DIVB	DIVD	DIVG

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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

DIVG	+ 0.98	MBOX
DIVB	+ 0.97	MBOX
DIEM	+ 0.96	DHSB
DISO	+ 0.96	DIEM
DIVB	+ 0.96	DIEM
DIVB	+ 0.96	DISO

High negative correlations

DISO	- 0.91	DIPS
DIPS	- 0.91	DIEM
DIPS	- 0.89	DHSB
DIVB	- 0.84	DIPS
DIPS	- 0.75	MBOX
DIPS	- 0.71	MCHI

WisdomTree Japan Constituents Risk-Adjusted Indicators

There is a big difference between WisdomTree Etf performing well and WisdomTree Japan 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 Japan'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
DHSB	0.53	0.04	(0.06)	(0.34)	0.95	(0.52)	1.18	(1.88)	6.57
MBOX	0.92	0.05	(0.04)	(0.56)	1.61	(0.85)	1.74	(2.03)	10.00
DIEM	0.88	0.15	0.02	(1.91)	1.30	(0.94)	2.34	(1.79)	8.25
MCHI	1.27	0.02	(0.05)	(0.21)	2.02	(1.41)	3.39	(2.21)	8.62
DIPS	2.03	(0.52)	0.00	(2.02)	0.00	0.00	2.82	(4.27)	22.25
DISO	1.21	0.20	0.04	2.21	2.26	(1.29)	2.00	(2.29)	12.10
DIVB	0.96	0.09	(0.01)	(1.43)	1.66	(0.95)	1.69	(1.88)	9.77
DIVD	0.84	0.06	0.02	0.19	1.32	(0.86)	1.55	(1.51)	9.14
DIVG	0.97	0.04	(0.04)	(0.39)	1.64	(0.90)	1.57	(2.27)	9.33

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