WisdomTree Investments Correlations

0LY1 Stock

16.49 0.63 3.97%

The current 90-days correlation between WisdomTree Investments and Universal Display Corp is -0.16 (i.e., Good diversification). The correlation of WisdomTree Investments 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 Investments Correlation With Market

Very poor diversification

The correlation between WisdomTree Investments 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 Investments and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to WisdomTree Investments 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 Investments 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 Investments - 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 Investments to buy it.

Moving together with WisdomTree Stock

0.77	0HGR	Applied Industrial	Pair Corr
0.83	0VL8	Toronto Dominion Bank Earnings Call This Week	Pair Corr
0.84	NBS	Nationwide Building	Pair Corr
0.72	0I9F	Digital Realty Trust	Pair Corr
0.98	FEML	Fidelity Emerging Markets	Pair Corr
0.97	CAML	Central Asia Metals	Pair Corr
0.82	0QWA	Logista	Pair Corr
0.81	0I4X	Crown Holdings	Pair Corr
0.78	PCFT	Polar Capital Global	Pair Corr
0.94	EDV	Endeavour Mining Corp	Pair Corr
0.88	0OIY	Caltagirone SpA Ord	Pair Corr
0.88	AAZ	Anglo Asian Mining	Pair Corr
0.89	0J4G	Helmerich Payne	Pair Corr
0.94	WEIR	Weir Group PLC	Pair Corr
0.66	BIRG	Bank of Ireland Earnings Call Next Week	Pair Corr
0.97	WGLD	WisdomTree Core Physical	Pair Corr
0.89	0QZ2	Silvercorp Metals	Pair Corr
0.86	EGY	VAALCO Energy	Pair Corr
0.7	MWE	MTI Wireless Edge	Pair Corr
0.88	SGRO	Segro Plc	Pair Corr
0.91	0R0U	Coeur Mining	Pair Corr
0.61	0QWI	Industria de Diseno	Pair Corr
0.84	0QGU	CNH Industrial NV	Pair Corr
0.71	PRTC	PureTech Health plc	Pair Corr
0.64	CGL	CATLIN GROUP	Pair Corr

Moving against WisdomTree Stock

0.87	0KGH	Paycom Software	Pair Corr
0.87	0LDR	Teladoc Health Earnings Call This Week	Pair Corr
0.34	0K7U	News Corp Cl	Pair Corr
0.31	0IS8	Covivio Hotels SCA	Pair Corr

Related Correlations Analysis

	0NW1	0LCX	0LJE	0N9K	0R1A	0LRK	0FF9	0J1G
0NW1		-0.51	0.37	0.65	0.78	0.62	0.55	-0.35	0NW1
0LCX	-0.51		-0.17	-0.75	-0.61	-0.71	-0.61	0.7	0LCX
0LJE	0.37	-0.17		0.25	0.3	0.42	0.21	-0.02	0LJE
0N9K	0.65	-0.75	0.25		0.73	0.7	0.57	-0.55	0N9K
0R1A	0.78	-0.61	0.3	0.73		0.66	0.54	-0.58	0R1A
0LRK	0.62	-0.71	0.42	0.7	0.66		0.7	-0.59	0LRK
0FF9	0.55	-0.61	0.21	0.57	0.54	0.7		-0.43	0FF9
0J1G	-0.35	0.7	-0.02	-0.55	-0.58	-0.59	-0.43		0J1G
	0NW1	0LCX	0LJE	0N9K	0R1A	0LRK	0FF9	0J1G

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

0R1A	+ 0.78	0NW1
0R1A	+ 0.73	0N9K
0J1G	+ 0.7	0LCX
0LRK	+ 0.7	0N9K
0FF9	+ 0.7	0LRK
0LRK	+ 0.66	0R1A

High negative correlations

0N9K	- 0.75	0LCX
0LRK	- 0.71	0LCX
0FF9	- 0.61	0LCX
0R1A	- 0.61	0LCX
0J1G	- 0.59	0LRK
0J1G	- 0.58	0R1A

Risk-Adjusted Indicators

There is a big difference between WisdomTree Stock performing well and WisdomTree Investments Company 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 Investments' 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
0NW1	1.49	0.29	0.14	(2.70)	1.31	(1.80)	3.72	(2.44)	8.16
0LCX	1.52	(0.25)	0.00	(1.40)	0.00	0.00	2.83	(4.46)	12.31
0LJE	1.76	(0.23)	0.00	(0.19)	0.00	0.00	3.36	(4.46)	12.25
0N9K	1.79	0.54	0.20	9.87	1.89	(2.04)	4.13	(3.46)	8.27
0R1A	2.14	0.84	0.26	(1.40)	1.95	(2.37)	6.15	(3.42)	15.98
0LRK	1.21	0.08	0.01	(1.67)	1.66	(1.32)	2.77	(2.64)	10.37
0FF9	1.73	0.16	0.05	(6.63)	1.76	(2.03)	3.89	(2.98)	18.28
0J1G	2.17	(0.89)	0.00	(1.98)	0.00	0.00	3.14	(6.66)	12.86

Be your own money manager

Our tools can tell you how much better you can do entering a position in WisdomTree Investments 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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WisdomTree Investments Corporate Management

Elected by the shareholders, the WisdomTree Investments' board of directors comprises two types of representatives: WisdomTree Investments inside directors who are chosen from within the company, and outside directors, selected externally and held independent of WisdomTree. The board's role is to monitor WisdomTree Investments' management team and ensure that shareholders' interests are well served. WisdomTree Investments' inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, WisdomTree Investments' outside directors are responsible for providing unbiased perspectives on the board's policies.

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