WisdomTree Europe Correlations

EUSC Etf

USD 43.28 0.29 0.67%

The current 90-days correlation between WisdomTree Europe Hedged and WisdomTree Europe Quality is 0.72 (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 Hedged and DJI is -0.08 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding WisdomTree Europe Hedged 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 Europe Hedged. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in state.

Moving together with WisdomTree Etf

0.97	VGK	Vanguard FTSE Europe Sell-off Trend	Pair Corr
0.97	EZU	iShares MSCI Eurozone Sell-off Trend	Pair Corr
0.99	BBEU	JPMorgan BetaBuilders	Pair Corr
0.97	IEUR	iShares Core MSCI	Pair Corr
0.97	FEZ	SPDR EURO STOXX	Pair Corr
0.75	IEV	iShares Europe ETF	Pair Corr
0.95	HEDJ	WisdomTree Europe Hedged	Pair Corr
0.94	DBEU	Xtrackers MSCI Europe	Pair Corr
0.94	HEZU	iShares Currency Hedged	Pair Corr
0.98	FEP	First Trust Europe	Pair Corr
0.96	IGA	Voya Global Advantage	Pair Corr
0.9	GDXU	MicroSectors Gold Miners	Pair Corr
0.76	CVX	Chevron Corp	Pair Corr
0.64	CSCO	Cisco Systems	Pair Corr
0.78	GE	GE Aerospace	Pair Corr
0.91	VZ	Verizon Communications	Pair Corr
0.79	MMM	3M Company	Pair Corr
0.94	JNJ	Johnson Johnson Sell-off Trend	Pair Corr
0.67	INTC	Intel Sell-off Trend	Pair Corr
0.73	XOM	Exxon Mobil Corp Earnings Call This Week	Pair Corr
0.94	T	ATT Inc Sell-off Trend	Pair Corr
0.76	IBM	International Business	Pair Corr
0.9	KO	Coca Cola	Pair Corr

Moving against WisdomTree Etf

0.84	MAGS	Roundhill Magnificent	Pair Corr
0.7	SEMI	Columbia Seligman	Pair Corr
0.42	PXMV	Invesco SP MidCap	Pair Corr
0.64	CAT	Caterpillar	Pair Corr
0.63	HPQ	HP Inc	Pair Corr
0.56	MRK	Merck Company	Pair Corr
0.31	BA	Boeing	Pair Corr

Related Correlations Analysis

	EUDG	HEZU	DBEU	DXGE	HEDJ
EUDG		0.94	0.96	0.0	0.96	EUDG
HEZU	0.94		0.98	0.0	0.98	HEZU
DBEU	0.96	0.98		0.0	1.0	DBEU
DXGE	0.0	0.0	0.0		0.0	DXGE
HEDJ	0.96	0.98	1.0	0.0		HEDJ
	EUDG	HEZU	DBEU	DXGE	HEDJ

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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

HEDJ	+ 1.0	DBEU
DBEU	+ 0.98	HEZU
HEDJ	+ 0.98	HEZU
DBEU	+ 0.96	EUDG
HEDJ	+ 0.96	EUDG
HEZU	+ 0.94	EUDG

High negative correlations

HEDJ	- 0.0	DXGE
DXGE	- 0.0	DBEU
DXGE	- 0.0	HEZU
DXGE	- 0.0	EUDG

WisdomTree Europe Constituents Risk-Adjusted Indicators

There is a big difference between WisdomTree Etf performing well and WisdomTree Europe 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 Europe'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
EUDG	0.71	0.11	0.17	(0.64)	0.72	(0.76)	1.46	(1.27)	4.14
HEZU	0.62	0.16	0.22	0.33	0.66	(0.67)	1.05	(1.07)	4.34
DBEU	0.55	0.11	0.19	(1.63)	0.61	(0.56)	1.19	(1.00)	3.51
DXGE	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
HEDJ	0.66	0.14	0.20	(1.36)	0.68	(0.70)	1.32	(1.32)	3.62

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