WisdomTree Global Correlations

WDGF Etf

35.03 0.38 1.07%

The current 90-days correlation between WisdomTree Global Defense and WisdomTree MidCap Quality is 0.5 (i.e., Very weak diversification). The correlation of WisdomTree Global 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 Global Correlation With Market

Very weak diversification

The correlation between WisdomTree Global Defense and DJI is 0.54 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding WisdomTree Global Defense and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with WisdomTree Etf

Check out Your Current Watchlist to better understand how to build diversified portfolios, which includes a position in WisdomTree Global Defense. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as various price indices.

Moving together with WisdomTree Etf

0.92	XLI	Industrial Select Sector	Pair Corr
0.67	DRVN	Driven Brands Holdings	Pair Corr
0.98	ITA	iShares Aerospace Defense	Pair Corr
0.93	VIS	Vanguard Industrials	Pair Corr
0.76	FXR	First Trust Industri	Pair Corr
0.99	PPA	Invesco Aerospace Defense	Pair Corr
0.86	IYJ	iShares Industrials ETF	Pair Corr
0.66	IYT	iShares Transportation	Pair Corr
0.93	FIDU	Fidelity MSCI Industrials	Pair Corr
0.71	SIXD	AIM ETF Products	Pair Corr
0.96	EEMX	SPDR MSCI Emerging	Pair Corr
0.76	SGOL	abrdn Physical Gold	Pair Corr
0.63	SPVM	Invesco SP 500	Pair Corr
0.85	LIT	Global X Lithium	Pair Corr
0.65	INTC	Intel Earnings Call This Week	Pair Corr
0.62	AA	Alcoa Corp Downward Rally	Pair Corr
0.81	CVX	Chevron Corp Earnings Call This Week	Pair Corr

Moving against WisdomTree Etf

0.66	VIXM	ProShares VIX Mid	Pair Corr
0.65	VXZ	iPath Series B	Pair Corr
0.64	VXX	iPath Series B	Pair Corr
0.64	VIXY	ProShares VIX Short Sell-off Trend	Pair Corr
0.54	YCL	ProShares Ultra Yen	Pair Corr
0.45	FXY	Invesco CurrencyShares	Pair Corr
0.53	VZ	Verizon Communications Earnings Call This Week	Pair Corr
0.47	CSCO	Cisco Systems Aggressive Push	Pair Corr
0.34	HPQ	HP Inc	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.54	-0.17	0.14	0.16	-0.11	0.17	-0.05	-0.24	-0.25	META
MSFT	0.54		0.52	-0.41	0.54	0.28	0.12	-0.22	-0.84	-0.72	MSFT
UBER	-0.17	0.52		-0.42	0.32	0.46	-0.04	-0.13	-0.6	-0.36	UBER
F	0.14	-0.41	-0.42		-0.57	-0.13	0.19	0.44	0.59	0.54	F
T	0.16	0.54	0.32	-0.57		0.55	-0.27	-0.4	-0.49	-0.66	T
A	-0.11	0.28	0.46	-0.13	0.55		-0.36	-0.24	-0.26	-0.38	A
CRM	0.17	0.12	-0.04	0.19	-0.27	-0.36		0.74	0.09	-0.21	CRM
JPM	-0.05	-0.22	-0.13	0.44	-0.4	-0.24	0.74		0.45	0.1	JPM
MRK	-0.24	-0.84	-0.6	0.59	-0.49	-0.26	0.09	0.45		0.73	MRK
XOM	-0.25	-0.72	-0.36	0.54	-0.66	-0.38	-0.21	0.1	0.73		XOM
	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM

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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

JPM	+ 0.74	CRM
XOM	+ 0.73	MRK
MRK	+ 0.59	F
A	+ 0.55	T
MSFT	+ 0.54	META
T	+ 0.54	MSFT

High negative correlations

MRK	- 0.84	MSFT
XOM	- 0.72	MSFT
XOM	- 0.66	T
MRK	- 0.6	UBER
T	- 0.57	F
MRK	- 0.49	T

WisdomTree Global Competition Risk-Adjusted Indicators

There is a big difference between WisdomTree Etf performing well and WisdomTree Global 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 Global'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
META	1.44	(0.19)	0.00	(0.11)	0.00	0.00	3.16	(2.67)	13.02
MSFT	1.05	(0.17)	0.00	(0.45)	0.00	0.00	1.78	(2.50)	4.90
UBER	1.45	(0.29)	0.00	(0.34)	0.00	0.00	2.46	(3.82)	10.23
F	1.21	(0.02)	(0.01)	0.05	1.32	(1.39)	2.53	(2.35)	7.16
T	0.87	(0.14)	0.00	(17.25)	0.00	0.00	1.53	(1.85)	4.30
A	1.21	(0.11)	0.00	(0.19)	0.00	0.00	2.90	(2.58)	7.85
CRM	1.53	(0.23)	0.00	(0.15)	0.00	0.00	2.94	(3.10)	12.37
JPM	1.12	(0.08)	(0.02)	0.02	1.70	(1.09)	2.00	(3.11)	7.38
MRK	1.24	0.27	0.19	0.45	1.11	(1.53)	3.59	(1.98)	8.09
XOM	1.07	0.28	0.18	4.39	0.95	(1.26)	2.38	(1.51)	5.82

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