IShares Gold Correlations

IAUM Etf

USD 30.13 0.23 0.76%

A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as IShares Gold moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if iShares Gold Trust moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

IShares Gold Correlation With Market

Good diversification

The correlation between iShares Gold Trust and DJI is -0.02 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding iShares Gold Trust and DJI in the same portfolio, assuming nothing else is changed.

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in iShares 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 employment.

Moving together with IShares Etf

1.0	GLD	SPDR Gold Shares	Pair Corr
1.0	IAU	iShares Gold Trust	Pair Corr
0.96	SLV	iShares Silver Trust	Pair Corr
1.0	GLDM	SPDR Gold MiniShares	Pair Corr
1.0	SGOL	abrdn Physical Gold	Pair Corr
1.0	GLTR	abrdn Physical Precious	Pair Corr
0.96	SIVR	abrdn Physical Silver	Pair Corr
0.7	XOM	Exxon Mobil Corp	Pair Corr
0.91	T	ATT Inc Earnings Call Tomorrow	Pair Corr
0.67	TRV	The Travelers Companies	Pair Corr
0.71	MCD	McDonalds	Pair Corr
0.76	CVX	Chevron Corp	Pair Corr
0.84	MMM	3M Company	Pair Corr
0.89	JNJ	Johnson Johnson	Pair Corr
0.79	VZ	Verizon Communications	Pair Corr
0.84	IBM	International Business	Pair Corr
0.87	GE	GE Aerospace	Pair Corr

Moving against IShares Etf

0.71	NAIL	Direxion Daily Homeb	Pair Corr
0.67	USD	ProShares Ultra Semi	Pair Corr
0.65	TECL	Direxion Daily Technology	Pair Corr
0.61	GBTC	Grayscale Bitcoin Trust	Pair Corr
0.52	FNGO	MicroSectors FANG Index	Pair Corr
0.52	FNGU	MicroSectors FANG Index Symbol Change	Pair Corr
0.44	SPXL	Direxion Daily SP500	Pair Corr
0.43	UPRO	ProShares UltraPro SP500	Pair Corr
0.33	USO	United States Oil	Pair Corr
0.69	MRK	Merck Company	Pair Corr
0.64	AA	Alcoa Corp	Pair Corr
0.6	CAT	Caterpillar	Pair Corr
0.52	HPQ	HP Inc	Pair Corr
0.43	AXP	American Express	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

IShares Gold Competition Risk-Adjusted Indicators

There is a big difference between IShares Etf performing well and IShares 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 IShares 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	0.02	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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