DB Gold Correlations

DGP Etf

USD 86.79 0.47 0.54%

The current 90-days correlation between DB Gold Double and DB Gold Double is -0.38 (i.e., Very good diversification). The correlation of DB 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.

DB Gold Correlation With Market

Good diversification

The correlation between DB Gold Double and DJI is -0.01 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding DB Gold Double and DJI in the same portfolio, assuming nothing else is changed.

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in DB Gold Double. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in price.

Moving together with DGP Etf

0.91	AGQ	ProShares Ultra Silver	Pair Corr
1.0	UGL	ProShares Ultra Gold	Pair Corr
0.95	GDXU	MicroSectors Gold Miners	Pair Corr
1.0	SHNY	Microsectors Gold	Pair Corr
0.89	BABX	GraniteShares 175x Long	Pair Corr
0.89	XPP	ProShares Ultra FTSE Downward Rally	Pair Corr
0.94	JNUG	Direxion Daily Junior	Pair Corr
0.65	BKCI	BNY Mellon ETF	Pair Corr
0.85	MMM	3M Company	Pair Corr
0.85	IBM	International Business	Pair Corr
0.74	CVX	Chevron Corp	Pair Corr
0.74	VZ	Verizon Communications	Pair Corr
0.88	JNJ	Johnson Johnson	Pair Corr
0.66	INTC	Intel	Pair Corr
0.87	GE	GE Aerospace	Pair Corr
0.64	XOM	Exxon Mobil Corp Aggressive Push	Pair Corr
0.63	TRV	The Travelers Companies	Pair Corr
0.88	T	ATT Inc Earnings Call This Week	Pair Corr

Moving against DGP Etf

0.78	MSFT	Microsoft	Pair Corr
0.63	AA	Alcoa Corp	Pair Corr
0.56	CAT	Caterpillar	Pair Corr
0.53	WTID	UBS ETRACS	Pair Corr
0.37	HD	Home Depot	Pair Corr
0.36	AXP	American Express	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		-0.1	0.63	-0.5	0.38	0.38	0.2	0.89	-0.76	0.09	META
MSFT	-0.1		-0.64	0.23	-0.78	0.66	0.89	0.04	0.47	-0.4	MSFT
UBER	0.63	-0.64		-0.45	0.79	-0.23	-0.55	0.57	-0.86	0.48	UBER
F	-0.5	0.23	-0.45		-0.14	0.06	0.06	-0.39	0.59	0.26	F
T	0.38	-0.78	0.79	-0.14		-0.55	-0.69	0.22	-0.67	0.52	T
A	0.38	0.66	-0.23	0.06	-0.55		0.76	0.6	0.12	-0.18	A
CRM	0.2	0.89	-0.55	0.06	-0.69	0.76		0.27	0.28	-0.46	CRM
JPM	0.89	0.04	0.57	-0.39	0.22	0.6	0.27		-0.65	0.12	JPM
MRK	-0.76	0.47	-0.86	0.59	-0.67	0.12	0.28	-0.65		-0.31	MRK
XOM	0.09	-0.4	0.48	0.26	0.52	-0.18	-0.46	0.12	-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	+ 0.89	META
CRM	+ 0.89	MSFT
T	+ 0.79	UBER
CRM	+ 0.76	A
A	+ 0.66	MSFT
UBER	+ 0.63	META

High negative correlations

MRK	- 0.86	UBER
T	- 0.78	MSFT
MRK	- 0.76	META
CRM	- 0.69	T
MRK	- 0.67	T
MRK	- 0.65	JPM

DB Gold Competition Risk-Adjusted Indicators

There is a big difference between DGP Etf performing well and DB 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 DB 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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
META	1.59	(0.03)	0.00	(0.11)	0.00	0.00	2.57	(3.73)	8.90
MSFT	1.11	(0.16)	0.00	(0.31)	0.00	0.00	2.58	(2.14)	10.31
UBER	1.87	0.33	0.15	0.56	2.19	(2.00)	4.72	(3.13)	12.75
F	1.44	0.10	0.04	0.02	2.20	(1.39)	2.71	(2.89)	10.14
T	1.05	0.27	0.17	0.41	1.61	(1.12)	1.90	(1.75)	11.66
A	1.14	(0.14)	0.00	(0.23)	0.00	0.00	2.92	(2.59)	9.03
CRM	1.40	(0.27)	0.00	(0.32)	0.00	0.00	2.72	(3.81)	8.88
JPM	1.11	0.06	0.00	(0.02)	0.00	0.00	1.99	(3.35)	6.85
MRK	1.16	(0.07)	0.00	0.80	0.00	0.00	2.07	(1.80)	11.58
XOM	1.06	0.09	0.09	0.13	1.38	(1.10)	2.55	(2.36)	5.89

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