VanEck Merk Correlations

OUNZ Etf

USD 28.10 0.37 1.30%

The current 90-days correlation between VanEck Merk Gold and GraniteShares Gold Trust is 1.0 (i.e., No risk reduction). The correlation of VanEck Merk 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.

VanEck Merk Correlation With Market

Significant diversification

The correlation between VanEck Merk Gold and DJI is 0.09 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding VanEck Merk Gold and DJI in the same portfolio, assuming nothing else is changed.

Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in VanEck Merk 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 board of governors.

Moving together with VanEck Etf

0.97	GLD	SPDR Gold Shares	Pair Corr
1.0	IAU	iShares Gold Trust	Pair Corr
0.81	SLV	iShares Silver Trust	Pair Corr
1.0	GLDM	SPDR Gold MiniShares	Pair Corr
1.0	SGOL	abrdn Physical Gold	Pair Corr
0.82	DBA	Invesco DB Agriculture	Pair Corr
0.98	GLTR	abrdn Physical Precious	Pair Corr
0.81	SIVR	abrdn Physical Silver	Pair Corr
1.0	IAUM	iShares Gold Trust	Pair Corr
0.88	JPST	JPMorgan Ultra Short	Pair Corr
0.83	INTL	Main International ETF	Pair Corr
0.89	JPM	JPMorgan Chase	Pair Corr
0.91	CSCO	Cisco Systems	Pair Corr
0.71	JNJ	Johnson Johnson	Pair Corr
0.78	KO	Coca Cola Aggressive Push	Pair Corr
0.88	IBM	International Business	Pair Corr
0.79	WMT	Walmart	Pair Corr
0.91	GE	GE Aerospace	Pair Corr

Moving against VanEck Etf

0.6	FNGD	MicroSectors FANG Index Trending	Pair Corr
0.37	VXX	iPath Series B Low Volatility	Pair Corr
0.56	MSFT	Microsoft	Pair Corr
0.51	AA	Alcoa Corp	Pair Corr
0.46	CAT	Caterpillar	Pair Corr
0.31	HPQ	HP Inc Earnings Call Today	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		-0.34	0.54	-0.68	0.78	0.45	-0.1	0.85	-0.78	-0.4	META
MSFT	-0.34		-0.63	0.28	-0.48	0.2	0.71	-0.47	0.59	-0.15	MSFT
UBER	0.54	-0.63		-0.15	0.73	-0.02	-0.49	0.72	-0.74	0.37	UBER
F	-0.68	0.28	-0.15		-0.38	-0.16	0.33	-0.41	0.58	0.77	F
T	0.78	-0.48	0.73	-0.38		0.06	-0.2	0.73	-0.78	0.0	T
A	0.45	0.2	-0.02	-0.16	0.06		0.21	0.53	-0.02	-0.29	A
CRM	-0.1	0.71	-0.49	0.33	-0.2	0.21		-0.25	0.43	-0.06	CRM
JPM	0.85	-0.47	0.72	-0.41	0.73	0.53	-0.25		-0.78	-0.08	JPM
MRK	-0.78	0.59	-0.74	0.58	-0.78	-0.02	0.43	-0.78		0.1	MRK
XOM	-0.4	-0.15	0.37	0.77	0.0	-0.29	-0.06	-0.08	0.1		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	+ 0.85	META
T	+ 0.78	META
XOM	+ 0.77	F
T	+ 0.73	UBER
JPM	+ 0.73	T
JPM	+ 0.72	UBER

High negative correlations

MRK	- 0.78	JPM
MRK	- 0.78	T
MRK	- 0.78	META
MRK	- 0.74	UBER
F	- 0.68	META
UBER	- 0.63	MSFT

VanEck Merk Competition Risk-Adjusted Indicators

There is a big difference between VanEck Etf performing well and VanEck Merk 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 VanEck Merk'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	1.30	0.26	0.16	0.64	1.38	(1.36)	3.22	(2.26)	7.11
MSFT	0.99	(0.06)	0.00	(0.23)	0.00	0.00	2.20	(1.90)	10.31
UBER	1.88	0.15	0.05	(2.68)	2.72	(1.87)	4.72	(3.13)	12.29
F	1.35	(0.21)	0.00	(0.27)	0.00	0.00	2.46	(2.90)	10.97
T	0.92	0.24	0.21	0.47	0.95	(1.07)	1.80	(1.75)	7.94
A	1.09	0.08	0.07	0.13	1.03	(1.33)	2.81	(1.91)	6.12
CRM	1.43	(0.07)	0.00	(0.08)	0.00	0.00	3.10	(2.95)	15.92
JPM	0.90	0.08	0.06	0.11	1.21	(0.99)	1.92	(1.51)	6.85
MRK	1.22	(0.07)	0.00	(1.13)	0.00	0.00	2.43	(1.81)	11.57
XOM	0.94	(0.13)	0.00	(0.24)	0.00	0.00	1.76	(2.14)	5.69

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