Sprott Physical Correlations

CEF Etf

USD 27.60 0.32 1.15%

The current 90-days correlation between Sprott Physical Gold and Sprott Physical Silver is 0.89 (i.e., Very poor diversification). The correlation of Sprott Physical 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.

Sprott Physical Correlation With Market

Significant diversification

The correlation between Sprott Physical Gold and DJI is 0.06 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Sprott Physical Gold 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 Sprott Physical Gold. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in income.

Moving together with Sprott Etf

0.72	GLD	SPDR Gold Shares	Pair Corr
0.72	IAU	iShares Gold Trust	Pair Corr
0.77	SLV	iShares Silver Trust	Pair Corr
0.71	GLDM	SPDR Gold MiniShares	Pair Corr
0.72	SGOL	abrdn Physical Gold	Pair Corr
0.74	GLTR	abrdn Physical Precious	Pair Corr
0.78	SIVR	abrdn Physical Silver	Pair Corr
0.72	IAUM	iShares Gold Trust	Pair Corr
0.68	T	ATT Inc Earnings Call Tomorrow	Pair Corr
0.66	JNJ	Johnson Johnson	Pair Corr
0.67	VZ	Verizon Communications	Pair Corr
0.66	IBM	International Business	Pair Corr

Moving against Sprott Etf

0.59	USD	ProShares Ultra Semi	Pair Corr
0.5	TECL	Direxion Daily Technology	Pair Corr
0.46	USO	United States Oil	Pair Corr
0.4	FNGO	MicroSectors FANG Index	Pair Corr
0.4	NAIL	Direxion Daily Homeb	Pair Corr
0.39	GBTC	Grayscale Bitcoin Trust	Pair Corr
0.39	FNGU	MicroSectors FANG Index Symbol Change	Pair Corr
0.36	SPXL	Direxion Daily SP500	Pair Corr
0.36	UPRO	ProShares UltraPro SP500	Pair Corr
0.47	MRK	Merck Company	Pair Corr
0.47	CAT	Caterpillar	Pair Corr
0.45	AA	Alcoa Corp	Pair Corr
0.45	AXP	American Express	Pair Corr
0.43	HPQ	HP Inc	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		-0.04	0.59	-0.54	0.32	0.42	0.26	0.9	-0.75	-0.01	META
MSFT	-0.04		-0.62	0.09	-0.79	0.69	0.89	0.1	0.44	-0.52	MSFT
UBER	0.59	-0.62		-0.35	0.8	-0.25	-0.53	0.53	-0.85	0.54	UBER
F	-0.54	0.09	-0.35		-0.05	-0.04	-0.08	-0.39	0.56	0.31	F
T	0.32	-0.79	0.8	-0.05		-0.57	-0.71	0.17	-0.65	0.58	T
A	0.42	0.69	-0.25	-0.04	-0.57		0.79	0.62	0.1	-0.3	A
CRM	0.26	0.89	-0.53	-0.08	-0.71	0.79		0.33	0.24	-0.58	CRM
JPM	0.9	0.1	0.53	-0.39	0.17	0.62	0.33		-0.63	0.07	JPM
MRK	-0.75	0.44	-0.85	0.56	-0.65	0.1	0.24	-0.63		-0.31	MRK
XOM	-0.01	-0.52	0.54	0.31	0.58	-0.3	-0.58	0.07	-0.31		XOM
	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

JPM	+ 0.9	META
CRM	+ 0.89	MSFT
T	+ 0.8	UBER
CRM	+ 0.79	A
A	+ 0.69	MSFT
JPM	+ 0.62	A

High negative correlations

MRK	- 0.85	UBER
T	- 0.79	MSFT
MRK	- 0.75	META
CRM	- 0.71	T
MRK	- 0.65	T
MRK	- 0.63	JPM

Sprott Physical Competition Risk-Adjusted Indicators

There is a big difference between Sprott Etf performing well and Sprott Physical 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 Sprott Physical'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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
META	1.59	0.02	0.00	(0.05)	0.00	0.00	2.57	(3.73)	8.90
MSFT	1.12	(0.15)	0.00	(0.28)	0.00	0.00	2.58	(2.14)	10.31
UBER	1.88	0.41	0.19	0.74	2.06	(2.04)	4.72	(3.13)	12.75
F	1.47	0.07	0.03	0.00	2.22	(1.39)	2.71	(2.89)	10.14
T	1.04	0.26	0.16	0.40	1.61	(1.11)	1.90	(1.75)	11.66
A	1.15	(0.15)	0.00	(0.23)	0.00	0.00	2.92	(2.59)	9.03
CRM	1.38	(0.27)	0.00	(0.31)	0.00	0.00	2.72	(3.81)	8.88
JPM	1.10	0.09	0.05	0.02	1.74	(1.04)	1.99	(3.35)	6.85
MRK	1.17	(0.11)	0.00	1.52	0.00	0.00	2.07	(1.80)	11.58
XOM	1.06	0.11	0.10	0.17	1.39	(1.08)	2.55	(2.36)	5.89

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