WisdomTree Japan Correlations

DFJ Etf

USD 77.55 0.02 0.03%

The current 90-days correlation between WisdomTree Japan SmallCap and WisdomTree Global ex US is 0.59 (i.e., Very weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as WisdomTree Japan moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if WisdomTree Japan SmallCap moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

WisdomTree Japan Correlation With Market

Weak diversification

The correlation between WisdomTree Japan SmallCap and DJI is 0.33 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding WisdomTree Japan SmallCap and DJI in the same portfolio, assuming nothing else is changed.

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in WisdomTree Japan SmallCap. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in census.

Moving together with WisdomTree Etf

0.93	EWJ	iShares MSCI Japan	Pair Corr
0.92	BBJP	JPMorgan BetaBuilders	Pair Corr
0.93	FLJP	Franklin FTSE Japan	Pair Corr
0.9	EWJV	iShares MSCI Japan	Pair Corr
0.98	SCJ	iShares MSCI Japan	Pair Corr
0.92	JPXN	iShares JPX Nikkei	Pair Corr
0.73	VTI	Vanguard Total Stock Sell-off Trend	Pair Corr
0.71	SPY	SPDR SP 500 Sell-off Trend	Pair Corr
0.71	IVV	iShares Core SP	Pair Corr
0.82	BND	Vanguard Total Bond	Pair Corr
0.79	VEA	Vanguard FTSE Developed	Pair Corr
0.74	T	ATT Inc Aggressive Push	Pair Corr
0.67	IBM	International Business	Pair Corr
0.69	MCD	McDonalds	Pair Corr

Moving against WisdomTree Etf

0.32

MRK

Merck Company

Pair Corr

Related Correlations Analysis

	DNL	DFE	DIM	DEW	DXJ
DNL		0.82	0.88	0.7	0.28	DNL
DFE	0.82		0.94	0.72	0.37	DFE
DIM	0.88	0.94		0.85	0.25	DIM
DEW	0.7	0.72	0.85		-0.16	DEW
DXJ	0.28	0.37	0.25	-0.16		DXJ
	DNL	DFE	DIM	DEW	DXJ

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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

DIM	+ 0.94	DFE
DIM	+ 0.88	DNL
DEW	+ 0.85	DIM
DFE	+ 0.82	DNL
DEW	+ 0.72	DFE
DEW	+ 0.7	DNL

High negative correlations

DXJ

- 0.16

DEW

WisdomTree Japan Constituents Risk-Adjusted Indicators

There is a big difference between WisdomTree Etf performing well and WisdomTree Japan 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 Japan'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
DNL	0.61	0.02	0.02	0.04	0.91	(0.57)	1.26	(1.29)	3.75
DFE	0.67	0.05	0.05	0.10	0.91	(0.62)	1.24	(1.33)	3.45
DIM	0.54	0.04	0.06	0.10	0.72	(0.53)	1.01	(1.03)	3.29
DEW	0.50	0.02	0.02	0.04	0.69	(0.51)	0.85	(1.02)	3.52
DXJ	0.73	0.04	0.04	0.08	0.96	(0.74)	1.56	(1.48)	4.92

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