WisdomTree Wheat Correlations

WEATP Etf

EUR 16.56 0.03 0.18%

The current 90-days correlation between WisdomTree Wheat EUR and Amundi Index Solutions is 0.07 (i.e., Significant diversification). The correlation of WisdomTree Wheat 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. If the correlation is 0, the equities are not correlated; they are entirely random.

WisdomTree Wheat Correlation With Market

Average diversification

The correlation between WisdomTree Wheat EUR and DJI is 0.17 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding WisdomTree Wheat EUR and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to WisdomTree Wheat could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace WisdomTree Wheat when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back WisdomTree Wheat - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling WisdomTree Wheat EUR to buy it.

Moving against WisdomTree Etf

0.63	JPNH	Lyxor UCITS Japan	Pair Corr
0.58	LUXU	Amundi SP Global	Pair Corr
0.54	HHH	HSBC SP 500	Pair Corr
0.54	ELCR	Amundi MSCI Smart	Pair Corr
0.54	SPY4	SSgA SPDR SP	Pair Corr
0.53	SPY5	SPDR SP 500	Pair Corr
0.52	MSE	Lyxor UCITS Stoxx	Pair Corr
0.52	CAC	Amundi CAC 40	Pair Corr
0.52	CI2U	Amundi MSCI India	Pair Corr
0.52	EQQQ	Invesco EQQQ NASDAQ	Pair Corr
0.51	CACC	Lyxor CAC 40	Pair Corr
0.5	LVE	Lyxor UCITS Stoxx	Pair Corr
0.5	BNKE	Amundi Euro Stoxx	Pair Corr
0.48	ELLE	Amundi Global Gender	Pair Corr
0.42	JPN	Lyxor UCITS Japan	Pair Corr
0.41	EMLD	SSgA SPDR ETFs	Pair Corr
0.38	STR	SPDR MSCI Europe	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.98	0.84	0.82	0.63	0.94	0.36	0.95	0.21	0.58	META
MSFT	0.98		0.88	0.86	0.65	0.92	0.39	0.96	0.2	0.58	MSFT
UBER	0.84	0.88		0.91	0.55	0.83	0.6	0.9	0.18	0.55	UBER
F	0.82	0.86	0.91		0.55	0.86	0.37	0.92	0.39	0.74	F
T	0.63	0.65	0.55	0.55		0.63	0.2	0.65	0.28	0.34	T
A	0.94	0.92	0.83	0.86	0.63		0.31	0.93	0.36	0.7	A
CRM	0.36	0.39	0.6	0.37	0.2	0.31		0.34	-0.21	-0.01	CRM
JPM	0.95	0.96	0.9	0.92	0.65	0.93	0.34		0.28	0.67	JPM
MRK	0.21	0.2	0.18	0.39	0.28	0.36	-0.21	0.28		0.52	MRK
XOM	0.58	0.58	0.55	0.74	0.34	0.7	-0.01	0.67	0.52		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

MSFT	+ 0.98	META
JPM	+ 0.96	MSFT
JPM	+ 0.95	META
A	+ 0.94	META
JPM	+ 0.93	A
A	+ 0.92	MSFT

High negative correlations

MRK	- 0.21	CRM
XOM	- 0.01	CRM

WisdomTree Wheat Competition Risk-Adjusted Indicators

There is a big difference between WisdomTree Etf performing well and WisdomTree Wheat 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 Wheat'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	1.61	0.14	0.10	0.21	1.69	(1.86)	3.99	(2.56)	10.48
MSFT	0.93	0.29	0.24	0.44	0.68	(1.11)	2.33	(1.22)	8.85
UBER	1.67	0.25	0.16	0.36	1.47	(2.11)	4.19	(2.54)	10.87
F	1.39	0.22	0.12	0.36	1.56	(1.54)	2.90	(2.61)	7.88
T	1.07	0.02	(0.04)	0.18	1.34	(1.10)	2.35	(2.35)	5.71
A	1.56	(0.10)	(0.01)	0.06	2.16	(1.57)	2.54	(3.38)	12.09
CRM	1.37	(0.19)	0.00	(0.02)	0.00	0.00	2.95	(3.30)	9.31
JPM	0.99	0.20	0.15	0.32	0.87	(1.09)	2.28	(1.51)	7.15
MRK	1.44	(0.11)	(0.04)	0.02	2.16	(1.34)	2.88	(4.13)	10.58
XOM	1.19	0.06	0.00	0.26	1.58	(1.18)	2.62	(2.58)	6.25

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Our tools can tell you how much better you can do entering a position in WisdomTree Wheat without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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