GraniteShares Gold Correlations

Etfs . USA . 
Etf . GraniteShares Gold Trust
BAR Etf  USD 29.78  0.02  0.07%   
The current 90-days correlation between GraniteShares Gold Trust and SPDR Gold MiniShares is -0.14 (i.e., Good diversification). The correlation of GraniteShares Gold is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak. If the correlation is 0, the equities are not correlated; they are entirely random.

GraniteShares Gold Correlation With Market

Significant diversification

The correlation between GraniteShares Gold Trust and DJI is 0.04 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding GraniteShares Gold Trust and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in GraniteShares Gold Trust. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in nation.

Moving together with GraniteShares Etf

  0.99GLD SPDR Gold SharesPairCorr
  0.99IAU iShares Gold TrustPairCorr
  0.93SLV iShares Silver TrustPairCorr
  0.99GLDM SPDR Gold MiniSharesPairCorr
  0.99SGOL abrdn Physical GoldPairCorr
  0.98GLTR abrdn Physical PreciousPairCorr
  0.94SIVR abrdn Physical SilverPairCorr
  0.99IAUM iShares Gold TrustPairCorr
  0.74XOM Exxon Mobil Corp Earnings Call This WeekPairCorr
  0.92T ATT Inc Aggressive PushPairCorr
  0.7TRV The Travelers CompaniesPairCorr
  0.75MCD McDonaldsPairCorr
  0.78CVX Chevron CorpPairCorr
  0.83MMM 3M CompanyPairCorr
  0.91JNJ Johnson JohnsonPairCorr
  0.83VZ Verizon Communications Sell-off TrendPairCorr
  0.83IBM International BusinessPairCorr
  0.86GE GE AerospacePairCorr

Moving against GraniteShares Etf

  0.71NAIL Direxion Daily HomebPairCorr
  0.68USD ProShares Ultra SemiPairCorr
  0.65TECL Direxion Daily TechnologyPairCorr
  0.62GBTC Grayscale Bitcoin TrustPairCorr
  0.54FNGO MicroSectors FANG IndexPairCorr
  0.52FNGU MicroSectors FANG Index Symbol ChangePairCorr
  0.44SPXL Direxion Daily SP500PairCorr
  0.44UPRO ProShares UltraPro SP500PairCorr
  0.32USO United States Oil Sell-off TrendPairCorr
  0.68MRK Merck CompanyPairCorr
  0.65AA Alcoa CorpPairCorr
  0.6CAT CaterpillarPairCorr
  0.51HPQ HP IncPairCorr
  0.43AXP American ExpressPairCorr

Related Correlations Analysis

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GraniteShares Gold Constituents Risk-Adjusted Indicators

There is a big difference between GraniteShares Etf performing well and GraniteShares Gold 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 GraniteShares Gold'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.

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