Correlation Between Opera and WisdomTree Japan
Observing Opera alongside WisdomTree Japan Hedged reveals patterns in their return co-movement. The interaction provides insight into how diversifiable risk is represented. The metric is based on previously observed return patterns.
When Opera and WisdomTree Japan Hedged move together, diversification drops, and this tool helps identify those periods early. Studying them side by side supports cleaner diversification decisions. Go to your portfolio center
Diversification Opportunities for Opera and WisdomTree Japan
-0.21 | Correlation Coefficient |
Strong inverse diversification
The 3 months correlation between Opera and WisdomTree is -0.21. Overlapping area represents the amount of risk that can be diversified away by holding Opera and WisdomTree Japan Hedged in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on WisdomTree Japan Hedged and Opera 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 Opera are associated (or correlated) with WisdomTree Japan. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of WisdomTree Japan Hedged has no effect on the direction of Opera i.e., Opera and WisdomTree Japan go up and down completely randomly.
Pair Corralation between Opera and WisdomTree Japan
Given the investment horizon of 90 days Opera is expected to generate 3.48 times less return on investment than WisdomTree Japan. In addition to that, Opera is 3.47 times more volatile than WisdomTree Japan Hedged. It trades about 0.01 of its total potential returns per unit of risk. WisdomTree Japan Hedged is currently generating about 0.14 per unit of volatility. If you had invested $ 14,363 in WisdomTree Japan Hedged on December 26, 2025 and sold it today you would have earned a total of $ 1,569 from holding WisdomTree Japan Hedged or generated 10.92% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Opera vs. WisdomTree Japan Hedged
Performance |
| Timeline |
| Opera |
Risk-Adjusted Performance
Weak
Weak | Strong |
| WisdomTree Japan Hedged |
Risk-Adjusted Performance
Moderate
Weak | Strong |
Opera and WisdomTree Japan Volatility Contrast
Predicted Return Distribution |
| Density |
Pair Trading with Opera and WisdomTree Japan
Pair trading between Opera and WisdomTree Japan 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 Japan vs. Pacer Small Cap | WisdomTree Japan vs. WisdomTree MidCap Dividend | WisdomTree Japan vs. iShares Financials ETF | WisdomTree Japan vs. SPDR SAMPP 600 |
Go to your portfolio centerThe information on this page should be treated as a complementary input when building or adjusting a diversified portfolio. The stronger workflow is to validate these signals with other models before acting. You can also try the Instant Ratings module to determine any equity ratings based on digital recommendations. Macroaxis instant equity ratings are based on combination of fundamental analysis and risk-adjusted market performance.
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