| EUDG Etf | | | USD 35.01 0.08 0.23% |
The current 90-days correlation between WisdomTree Europe Quality and WisdomTree Dynamic Currency is 0.64 (i.e., Poor diversification). The correlation of WisdomTree Europe 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 Europe Correlation With Market
Good diversification
The correlation between WisdomTree Europe Quality and DJI is -0.05 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding WisdomTree Europe Quality and DJI in the same portfolio, assuming nothing else is changed.
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Investing Opportunities to better understand how to build diversified portfolios, which includes a position in WisdomTree Europe Quality. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as
signals in unemployment.