WisdomTree Europe Correlations

Etfs . USA . 
Etf . WisdomTree Europe Hedged
HEDJ Etf  USD 49.35  0.40  0.82%   
The current 90-days correlation between WisdomTree Europe Hedged and WisdomTree Japan Hedged is 0.57 (i.e., Very weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as WisdomTree Europe moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if WisdomTree Europe Hedged moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

WisdomTree Europe Correlation With Market

Very weak diversification

The correlation between WisdomTree Europe Hedged and DJI is 0.49 (i.e., Very weak 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 Risk vs Return Analysis 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 unemployment.

Moving together with WisdomTree Etf

  0.96VGK Vanguard FTSE EuropePairCorr
  0.96EZU iShares MSCI EurozonePairCorr
  0.96BBEU JPMorgan BetaBuildersPairCorr
  0.96IEUR iShares Core MSCIPairCorr
  0.97FEZ SPDR EURO STOXXPairCorr
  0.96IEV iShares Europe ETFPairCorr
  1.0DBEU Xtrackers MSCI EuropePairCorr
  1.0HEZU iShares Currency HedgedPairCorr
  0.9FEP First Trust EuropePairCorr
  0.95IGA Voya Global AdvantagePairCorr
  0.89GDXU MicroSectors Gold MinersPairCorr
  0.76CVX Chevron CorpPairCorr
  0.81CSCO Cisco SystemsPairCorr
  0.91GE GE AerospacePairCorr
  0.78VZ Verizon Communications Sell-off TrendPairCorr
  0.88MMM 3M CompanyPairCorr
  0.91JNJ Johnson JohnsonPairCorr
  0.66INTC Intel Sell-off TrendPairCorr
  0.64XOM Exxon Mobil Corp Earnings Call This WeekPairCorr
  0.93T ATT Inc Aggressive PushPairCorr
  0.86IBM International BusinessPairCorr
  0.88KO Coca Cola Sell-off TrendPairCorr

Moving against WisdomTree Etf

  0.64MAGS Roundhill MagnificentPairCorr
  0.52SEMI Columbia SeligmanPairCorr
  0.72MRK Merck CompanyPairCorr
  0.52CAT CaterpillarPairCorr
  0.43HPQ HP IncPairCorr

Related Correlations Analysis

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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   
FEZ
+ 0.95
DFE
FEZ
+ 0.65
DBEF
DBEF
+ 0.64
DFE
DBEF
+ 0.3
DXJ
DFE
+ 0.14
DXJ
HEWG
+ 0.0
DXJ
  
High negative correlations   
FEZ
- 0.05
DXJ
HEWG
- 0.0
FEZ
HEWG
- 0.0
DBEF
HEWG
- 0.0
DFE
HEWG
- 0.0
DXJ

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.

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