Correlation Between First Trust and WisdomTree High
Does pairing First Trust Mid with WisdomTree High Dividend lower idiosyncratic risk? This analysis describes return linkage and the diversifiable risk of a joint position in First Trust Mid and WisdomTree High Dividend.
This correlation view highlights where First Trust Mid and WisdomTree High Dividend move in sync and where they separate across market regimes. You can also test a long First Trust and short WisdomTree High structure to evaluate relative-value behavior. Review volatility patterns in First Trust and WisdomTree High. Go to your portfolio center
Diversification Opportunities for First Trust and WisdomTree High
0.74 | Correlation Coefficient |
Poor diversification
The 3 months correlation between First and WisdomTree is 0.74. Overlapping area represents the amount of risk that can be diversified away by holding First Trust Mid and WisdomTree High Dividend in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on WisdomTree High Dividend and First Trust 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 First Trust Mid are associated (or correlated) with WisdomTree High. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of WisdomTree High Dividend has no effect on the direction of First Trust i.e., First Trust and WisdomTree High go up and down completely randomly.
Pair Corralation between First Trust and WisdomTree High
Considering the 90-day investment horizon First Trust is expected to generate 99.0 times less return on investment than WisdomTree High. In addition to that, First Trust is 1.54 times more volatile than WisdomTree High Dividend. It trades about 0.0 of its total potential returns per unit of risk. WisdomTree High Dividend is currently generating about 0.15 per unit of volatility. If you had invested $ 10,118 in WisdomTree High Dividend on December 19, 2025 and sold it today you would have earned a total of $ 606.00 from holding WisdomTree High Dividend or generated 5.99% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
First Trust Mid vs. WisdomTree High Dividend
Performance |
| Timeline |
| First Trust Mid |
Risk-Adjusted Performance
Soft
Weak | Strong |
| WisdomTree High Dividend |
Risk-Adjusted Performance
Balanced
Weak | Strong |
First Trust and WisdomTree High Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with First Trust and WisdomTree High
Two-leg strategies using First Trust and WisdomTree High matter because the combined position can be designed to be more market-neutral. This is most useful when the two securities share economic drivers but still create room for relative-performance divergence.| First Trust vs. First Trust Large | First Trust vs. First Trust Large | First Trust vs. First Trust Large | First Trust vs. First Trust Small |
| WisdomTree High vs. WisdomTree Earnings 500 | WisdomTree High vs. Pacer Developed Markets | WisdomTree High vs. iShares Consumer Staples | WisdomTree High vs. iShares MSCI Switzerland |
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 Theme Ratings module to determine theme ratings based on digital equity recommendations. Macroaxis theme ratings are based on combination of fundamental analysis and risk-adjusted market performance.
Other Complementary Tools
| Stocks Directory Find actively traded stocks across global markets | |
| Watchlist Optimization Optimize watchlists to build efficient portfolios or rebalance existing positions based on the mean-variance optimization algorithm | |
| Volatility Analysis Get historical volatility and risk analysis based on latest market data | |
| Share Portfolio Track or share privately all of your investments from the convenience of any device | |
| Portfolio Manager State of the art Portfolio Manager to monitor and improve performance of your invested capital |