WisdomTree Japan Correlations

DXJ Etf

USD 113.68 0.35 0.31%

The current 90-days correlation between WisdomTree Japan Hedged and WisdomTree Europe Hedged is 0.89 (i.e., Very poor 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 Hedged moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

WisdomTree Japan Correlation With Market

Very poor diversification

The correlation between WisdomTree Japan Hedged and DJI is 0.88 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding WisdomTree Japan Hedged and DJI in the same portfolio, assuming nothing else is changed.

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Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in WisdomTree Japan 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 interest.

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0.89	EWJ	iShares MSCI Japan	Pair Corr
0.88	BBJP	JPMorgan BetaBuilders	Pair Corr
0.87	FLJP	Franklin FTSE Japan	Pair Corr
0.99	HEWJ	iShares Currency Hedged	Pair Corr
0.99	DBJP	Xtrackers MSCI Japan	Pair Corr
0.74	DFJ	WisdomTree Japan SmallCap	Pair Corr
0.92	EWJV	iShares MSCI Japan	Pair Corr
0.76	SCJ	iShares MSCI Japan	Pair Corr
0.85	JPXN	iShares JPX Nikkei	Pair Corr
0.95	ITWO	Proshares Russell 2000 Low Volatility	Pair Corr
0.75	WGMI	Valkyrie Bitcoin Miners	Pair Corr
0.76	GE	GE Aerospace	Pair Corr
0.61	MSFT	Microsoft	Pair Corr
0.79	TRV	The Travelers Companies	Pair Corr
0.71	DD	Dupont De Nemours	Pair Corr
0.61	AA	Alcoa Corp	Pair Corr
0.74	IBM	International Business	Pair Corr
0.71	HPQ	HP Inc	Pair Corr
0.79	CSCO	Cisco Systems Aggressive Push	Pair Corr
0.72	JPM	JPMorgan Chase	Pair Corr

Related Correlations Analysis

	HEDJ	DFJ	DFE	EWJ	EWG
HEDJ		0.71	0.72	0.86	0.79	HEDJ
DFJ	0.71		0.92	0.95	0.93	DFJ
DFE	0.72	0.92		0.91	0.98	DFE
EWJ	0.86	0.95	0.91		0.94	EWJ
EWG	0.79	0.93	0.98	0.94		EWG
	HEDJ	DFJ	DFE	EWJ	EWG

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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
HEDJ	1.14	0.02	0.01	0.01	1.79	(1.07)	1.96	(2.64)	13.05
DFJ	0.91	0.12	0.09	0.26	1.22	(1.00)	2.05	(1.79)	6.67
DFE	0.91	0.21	0.13	0.30	1.36	(0.94)	2.32	(1.33)	9.14
EWJ	1.10	0.09	0.05	0.10	1.59	(1.10)	1.99	(2.12)	10.80
EWG	1.08	0.16	0.10	0.18	1.47	(1.14)	2.54	(2.14)	10.31

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WisdomTree Japan Correlations

WisdomTree Japan Correlation With Market

Very poor diversification

Moving together with WisdomTree Etf

Related Correlations Analysis

WisdomTree Japan Constituents Risk-Adjusted Indicators

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