Correlation Between WisdomTree Global and First Trust
The pairing of WisdomTree Global High and First Trust Multi highlights how their return series behave together. This measure reflects the degree of diversifiable risk between the two instruments. This metric is based on observed return series over time.
This module compares WisdomTree Global High and First Trust Multi on return linkage, making pair-trade and hedge decisions easier to frame. This correlation context helps frame relative-value behavior between the pair. You can also test a long WisdomTree Global and short First Trust structure to evaluate relative-value behavior. Volatility patterns for WisdomTree Global and First Trust are available for review. Go to your portfolio center
Diversification Opportunities for WisdomTree Global and First Trust
0.92 | Correlation Coefficient |
Almost no diversification
The 3 months correlation between WisdomTree and First is 0.92. Overlapping area represents the amount of risk that can be diversified away by holding WisdomTree Global High and First Trust Multi in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on First Trust Multi and WisdomTree Global is a relative statistical measure of the degree to which these equity instruments tend to move together. The correlation coefficient measures the extent to which returns on WisdomTree Global High are associated (or correlated) with First Trust. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of First Trust Multi has no effect on the direction of WisdomTree Global i.e., WisdomTree Global and First Trust go up and down completely randomly.
Pair Corralation between WisdomTree Global and First Trust
Considering the 90-day investment horizon WisdomTree Global High is expected to generate 0.77 times more return on investment than First Trust. However, WisdomTree Global High is 1.29 times less risky than First Trust. It trades about 0.18 of its potential returns per unit of risk. First Trust Multi is currently generating about 0.05 per unit of risk. If you had invested $ 6,156 in WisdomTree Global High on December 21, 2025 and sold it today you would have earned a total of $ 438.00 from holding WisdomTree Global High or generated 7.12% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
WisdomTree Global High vs. First Trust Multi
Performance |
| Timeline |
| WisdomTree Global High |
Risk-Adjusted Performance
Balanced
Weak | Strong |
| First Trust Multi |
Risk-Adjusted Performance
Mild
Weak | Strong |
WisdomTree Global and First Trust Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with WisdomTree Global and First Trust
Pair trading between WisdomTree Global and First Trust can reduce some unsystematic risk by balancing one position against another. The stronger process checks whether the correlation is stable enough to justify the hedge logic before the trade is sized.| WisdomTree Global vs. iShares Oil Equipment | WisdomTree Global vs. iShares MSCI China | WisdomTree Global vs. Pacer Emerging Markets | WisdomTree Global vs. iShares MSCI Austria |
| First Trust vs. First Trust Small | First Trust vs. iShares MSCI China | First Trust vs. First Trust Intl | First Trust vs. First Trust Nasdaq |
Go to your portfolio centerThe analysis presented here should support, not replace, the broader process of selecting and combining portfolio holdings. The practical goal is to improve the mix of assets already under consideration. You can also try the Watchlist Optimization module to optimize watchlists to build efficient portfolios or rebalance existing positions based on the mean-variance optimization algorithm.
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