Correlation Between WisdomTree BioRevolution and Fidelity Emerging
Can any of the company-specific risk be diversified away by investing in both WisdomTree BioRevolution and Fidelity Emerging at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining WisdomTree BioRevolution and Fidelity Emerging into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between WisdomTree BioRevolution and Fidelity Emerging Markets, you can compare the effects of market volatilities on WisdomTree BioRevolution and Fidelity Emerging and check how they will diversify away market risk if combined in the same portfolio for a given time horizon. You can also utilize pair trading strategies of matching a long position in WisdomTree BioRevolution with a short position of Fidelity Emerging. Check out your portfolio center. Please also check ongoing floating volatility patterns of WisdomTree BioRevolution and Fidelity Emerging.
Diversification Opportunities for WisdomTree BioRevolution and Fidelity Emerging
0.84 | Correlation Coefficient |
Very poor diversification
The 3 months correlation between WisdomTree and Fidelity is 0.84. Overlapping area represents the amount of risk that can be diversified away by holding WisdomTree BioRevolution and Fidelity Emerging Markets in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Fidelity Emerging Markets and WisdomTree BioRevolution 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 BioRevolution are associated (or correlated) with Fidelity Emerging. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Fidelity Emerging Markets has no effect on the direction of WisdomTree BioRevolution i.e., WisdomTree BioRevolution and Fidelity Emerging go up and down completely randomly.
Pair Corralation between WisdomTree BioRevolution and Fidelity Emerging
Given the investment horizon of 90 days WisdomTree BioRevolution is expected to generate 1.16 times less return on investment than Fidelity Emerging. In addition to that, WisdomTree BioRevolution is 1.69 times more volatile than Fidelity Emerging Markets. It trades about 0.15 of its total potential returns per unit of risk. Fidelity Emerging Markets is currently generating about 0.29 per unit of volatility. If you would invest 3,050 in Fidelity Emerging Markets on November 29, 2025 and sell it today you would earn a total of 450.00 from holding Fidelity Emerging Markets or generate 14.75% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
WisdomTree BioRevolution vs. Fidelity Emerging Markets
Performance |
| Timeline |
| WisdomTree BioRevolution |
| Fidelity Emerging Markets |
WisdomTree BioRevolution and Fidelity Emerging Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with WisdomTree BioRevolution and Fidelity Emerging
The main advantage of trading using opposite WisdomTree BioRevolution and Fidelity Emerging positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if WisdomTree BioRevolution position performs unexpectedly, Fidelity Emerging can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Fidelity Emerging will offset losses from the drop in Fidelity Emerging's long position.| WisdomTree BioRevolution vs. Global X SP | WisdomTree BioRevolution vs. Themes Cash Flow | WisdomTree BioRevolution vs. ETF Managers Group | WisdomTree BioRevolution vs. VanEck ETF Trust |
| Fidelity Emerging vs. ProShares Equities for | Fidelity Emerging vs. Allspring Exchange Traded Funds | Fidelity Emerging vs. iShares Environmentally Aware | Fidelity Emerging vs. WHITEWOLF Publicly Listed |
Check out your portfolio center.Note that this page's information should be used as a complementary analysis to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Sign In To Macroaxis module to sign in to explore Macroaxis' wealth optimization platform and fintech modules.
Other Complementary Tools
| Portfolio Dashboard Portfolio dashboard that provides centralized access to all your investments | |
| Latest Portfolios Quick portfolio dashboard that showcases your latest portfolios | |
| Pair Correlation Compare performance and examine fundamental relationship between any two equity instruments | |
| Sync Your Broker Sync your existing holdings, watchlists, positions or portfolios from thousands of online brokerage services, banks, investment account aggregators and robo-advisors. | |
| Commodity Channel Use Commodity Channel Index to analyze current equity momentum |