Wisdomtree Digital Correlations

TECHX Etf

21.25 0.10 0.47%

The current 90-days correlation between Wisdomtree Digital Trust and WisdomTree Japan Hedged is 0.27 (i.e., Modest diversification). The correlation of Wisdomtree Digital 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 Digital Correlation With Market

Very poor diversification

The correlation between Wisdomtree Digital Trust and DJI is 0.81 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Wisdomtree Digital Trust and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Wisdomtree Etf

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Wisdomtree Digital Trust. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in rate.

Moving together with Wisdomtree Etf

0.7	VVPR	VivoPower International Downward Rally	Pair Corr
0.94	DBD	Diebold Nixdorf,	Pair Corr
0.69	GENVR	Gen Digital Contingent	Pair Corr
0.63	CYCUW	Cycurion, Warrant Symbol Change	Pair Corr
0.76	BULLW	Webull Warrants Tech Boost	Pair Corr
0.7	MIND	Mind Technology	Pair Corr
0.92	HPE-PC	Hewlett Packard Ente	Pair Corr
0.91	CORZZ	Core Scientific, Tranche	Pair Corr
0.74	RZLVW	Rezolve AI Limited	Pair Corr
0.83	SATX	SatixFy Communications	Pair Corr
0.9	STRF	MicroStrategy Incorporated	Pair Corr
0.93	WTSIX	Wisdomtree Digital Trust	Pair Corr

Moving against Wisdomtree Etf

0.85	VSTE	Vast Renewables	Pair Corr
0.85	NOVA	Sunnova Energy Inter	Pair Corr
0.84	HPAIW	Helport AI Limited	Pair Corr
0.8	VISL	Vislink Technologies	Pair Corr
0.63	APCXW	AppTech Payments Corp	Pair Corr
0.58	EXOD	Exodus Movement, Tech Boost	Pair Corr
0.5	ODYS	Odysightai Common Stock	Pair Corr
0.35	DVLT	Datavault AI Symbol Change	Pair Corr
0.91	SMTK	SmartKem, Common Stock	Pair Corr
0.72	APCX	Apptech Corp	Pair Corr
0.44	SLNHP	Soluna Holdings Preferred	Pair Corr
0.44	AXIL	AXIL Brands, Trending	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.98	0.84	0.82	0.55	0.93	0.29	0.94	0.23	0.56	META
MSFT	0.98		0.87	0.85	0.52	0.89	0.29	0.96	0.24	0.55	MSFT
UBER	0.84	0.87		0.9	0.42	0.81	0.54	0.88	0.21	0.5	UBER
F	0.82	0.85	0.9		0.4	0.84	0.28	0.91	0.43	0.72	F
T	0.55	0.52	0.42	0.4		0.57	0.17	0.5	0.27	0.22	T
A	0.93	0.89	0.81	0.84	0.57		0.24	0.89	0.37	0.67	A
CRM	0.29	0.29	0.54	0.28	0.17	0.24		0.23	-0.26	-0.11	CRM
JPM	0.94	0.96	0.88	0.91	0.5	0.89	0.23		0.32	0.64	JPM
MRK	0.23	0.24	0.21	0.43	0.27	0.37	-0.26	0.32		0.55	MRK
XOM	0.56	0.55	0.5	0.72	0.22	0.67	-0.11	0.64	0.55		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	+ 0.94	META
A	+ 0.93	META
JPM	+ 0.91	F
F	+ 0.9	UBER

High negative correlations

MRK	- 0.26	CRM
XOM	- 0.11	CRM

Wisdomtree Digital Competition Risk-Adjusted Indicators

There is a big difference between Wisdomtree Etf performing well and Wisdomtree Digital 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 Digital'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	1.51	0.26	0.21	0.32	1.10	(1.82)	3.99	(2.35)	10.48
MSFT	0.90	0.30	0.27	0.47	0.54	(1.09)	2.33	(1.08)	8.85
UBER	1.64	0.20	0.13	0.33	1.40	(2.08)	4.19	(2.54)	10.87
F	1.32	0.14	0.06	0.32	1.47	(1.42)	2.69	(2.61)	7.46
T	1.02	(0.05)	(0.10)	0.00	1.35	(1.06)	2.35	(2.35)	5.71
A	1.46	(0.07)	0.00	0.09	1.81	(1.51)	2.54	(2.89)	14.01
CRM	1.33	(0.13)	(0.04)	0.04	1.74	(1.28)	2.95	(3.19)	9.31
JPM	0.90	0.22	0.18	0.38	0.67	(1.02)	2.25	(1.36)	6.03
MRK	1.39	(0.09)	(0.05)	0.04	1.96	(1.32)	2.88	(3.31)	10.58
XOM	1.13	0.05	(0.04)	0.41	1.36	(1.15)	2.40	(2.58)	5.84

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