DB Gold Correlations

DGZ Etf

USD 7.49 0.05 0.66%

The current 90-days correlation between DB Gold Short and DB Gold Double is -0.15 (i.e., 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

Significant diversification

The correlation between DB Gold Short and DJI is 0.08 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding DB Gold Short 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 Short. 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 DGZ Etf

0.67	ZSL	ProShares UltraShort	Pair Corr
0.63	GLL	ProShares UltraShort Gold	Pair Corr
0.68	GDXD	MicroSectors Gold Miners	Pair Corr
0.63	DULL	MicroSectors Gold	Pair Corr

Moving against DGZ Etf

0.79	VEMGF	Vanguard Funds Public	Pair Corr
0.74	BND	Vanguard Total Bond	Pair Corr
0.74	UTWY	US Treasury 20	Pair Corr
0.7	VEA	Vanguard FTSE Developed	Pair Corr
0.68	MYMH	SPDR SSGA My2028	Pair Corr
0.65	IROC	IROC Symbol Change	Pair Corr
0.53	BKCI	BNY Mellon ETF	Pair Corr
0.48	SCO	ProShares UltraShort	Pair Corr
0.36	DZZ	DB Gold Double	Pair Corr
0.88	AGIH	iShares ETF Trust	Pair Corr
0.72	VZ	Verizon Communications	Pair Corr
0.67	KO	Coca Cola	Pair Corr
0.66	AGQI	First Trust Exchange	Pair Corr
0.65	JNJ	Johnson Johnson	Pair Corr
0.61	MCD	McDonalds	Pair Corr
0.59	TRV	The Travelers Companies	Pair Corr
0.56	XOM	Exxon Mobil Corp Aggressive Push	Pair Corr
0.54	CVX	Chevron Corp	Pair Corr
0.47	DD	Dupont De Nemours	Pair Corr
0.43	INTC	Intel	Pair Corr
0.37	GE	GE Aerospace	Pair Corr
0.33	CSCO	Cisco Systems	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 DGZ 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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