WisdomTree Short Correlations

SGBP Etf

60.98 0.01 0.02%

The current 90-days correlation between WisdomTree Short GBP and WisdomTree Zinc is -0.2 (i.e., Good diversification). The correlation of WisdomTree Short 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 Short Correlation With Market

Good diversification

The correlation between WisdomTree Short GBP and DJI is -0.06 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding WisdomTree Short GBP and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to WisdomTree Short could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace WisdomTree Short when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back WisdomTree Short - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling WisdomTree Short GBP to buy it.

Moving together with WisdomTree Etf

0.74	1AMZ	LS 1x Amazon	Pair Corr
0.83	2GOO	Leverage Shares 2x	Pair Corr
0.67	2AMD	Leverage Shares 2x	Pair Corr

Moving against WisdomTree Etf

0.88	TAHY	Tabula Haitong Asia	Pair Corr
0.87	CORP	iShares Global Corp	Pair Corr
0.82	TRES	Invesco Treasury Bond	Pair Corr
0.81	KWEB	KraneShares CSI China	Pair Corr
0.78	GEDV	SPDR SP Global	Pair Corr
0.76	EMLI	PIMCO Emerging Markets	Pair Corr
0.76	XCX7	Xtrackers MSCI China	Pair Corr
0.75	VWCG	Vanguard FTSE Developed	Pair Corr
0.74	AASU	Amundi Index Solutions	Pair Corr
0.69	CSH2	Multi Units Luxembourg	Pair Corr
0.62	NGAS	WisdomTree Natural Gas	Pair Corr
0.59	3SME	GraniteShares 3x Short	Pair Corr
0.56	XD5D	db x trackers	Pair Corr
0.56	FHYG	Fidelity Sustainable	Pair Corr
0.54	FLXB	Franklin FTSE Brazil	Pair Corr
0.54	EUXS	iShares MSCI Europe	Pair Corr
0.47	ESGP	AuAg ESG Gold	Pair Corr
0.46	BUYB	Invesco Global Buyback	Pair Corr
0.46	XZ2G	Xtrackers ESG USD	Pair Corr
0.32	COPX	Global X Copper	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		-0.02	0.58	-0.53	0.3	0.43	0.28	0.9	-0.74	-0.03	META
MSFT	-0.02		-0.62	0.02	-0.8	0.7	0.89	0.13	0.43	-0.55	MSFT
UBER	0.58	-0.62		-0.28	0.81	-0.27	-0.53	0.51	-0.84	0.57	UBER
F	-0.53	0.02	-0.28		0.0	-0.09	-0.16	-0.37	0.51	0.36	F
T	0.3	-0.8	0.81	0.0		-0.59	-0.71	0.16	-0.65	0.6	T
A	0.43	0.7	-0.27	-0.09	-0.59		0.8	0.62	0.11	-0.34	A
CRM	0.28	0.89	-0.53	-0.16	-0.71	0.8		0.36	0.23	-0.61	CRM
JPM	0.9	0.13	0.51	-0.37	0.16	0.62	0.36		-0.63	0.06	JPM
MRK	-0.74	0.43	-0.84	0.51	-0.65	0.11	0.23	-0.63		-0.32	MRK
XOM	-0.03	-0.55	0.57	0.36	0.6	-0.34	-0.61	0.06	-0.32		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

JPM	+ 0.9	META
CRM	+ 0.89	MSFT
T	+ 0.81	UBER
CRM	+ 0.8	A
A	+ 0.7	MSFT
JPM	+ 0.62	A

High negative correlations

MRK	- 0.84	UBER
T	- 0.8	MSFT
MRK	- 0.74	META
CRM	- 0.71	T
MRK	- 0.65	T
MRK	- 0.63	JPM

WisdomTree Short Competition Risk-Adjusted Indicators

There is a big difference between WisdomTree Etf performing well and WisdomTree Short 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 Short'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	1.63	0.04	0.02	0.00	2.27	(1.46)	2.96	(3.73)	8.90
MSFT	1.11	(0.18)	0.00	(0.29)	0.00	0.00	2.58	(2.14)	10.31
UBER	1.88	0.40	0.18	0.75	2.03	(2.05)	4.72	(3.13)	12.75
F	1.44	0.14	0.06	0.09	2.12	(1.42)	2.71	(2.88)	10.14
T	0.99	0.29	0.19	0.56	1.43	(1.11)	1.90	(1.55)	11.66
A	1.16	(0.14)	0.00	(0.20)	0.00	0.00	2.92	(2.59)	9.03
CRM	1.40	(0.29)	0.00	(0.29)	0.00	0.00	2.72	(3.81)	8.88
JPM	1.14	0.10	0.05	0.05	1.76	(1.09)	2.16	(3.35)	6.85
MRK	1.16	(0.11)	0.00	1.03	0.00	0.00	2.07	(1.80)	11.58
XOM	1.03	0.13	0.10	0.27	1.28	(1.06)	2.55	(2.36)	5.89

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