The Gold Correlations

QGLDX Fund

USD 26.06 0.24 0.91%

The current 90-days correlation between Gold Bullion and Quantified Market Leaders is 0.02 (i.e., Significant diversification). The correlation of The 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.

The Gold Correlation With Market

Good diversification

The correlation between The Gold Bullion and DJI is -0.13 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding The Gold Bullion 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 The Gold Bullion. Also, note that the market value of any mutual fund could be closely tied with the direction of predictive economic indicators such as signals in unemployment.

Moving together with The Mutual Fund

0.64	QSTFX	Quantified Stf	Pair Corr
0.64	QSTAX	Quantified Stf	Pair Corr
0.92	QEVOX	Quantified Evolution Plus	Pair Corr
1.0	QGLCX	Gold Bullion	Pair Corr
0.61	APDOX	Artisan Emerging Markets	Pair Corr
0.69	PGTAX	Putnam Global Technology	Pair Corr

Moving against The Mutual Fund

0.57	QBDAX	Quantified Managed Income	Pair Corr
0.54	QBDSX	Quantified Managed Income	Pair Corr
0.34	QFITX	Quantified Tactical Fixed Steady Growth	Pair Corr

Related Correlations Analysis

	QMLFX	QBDSX	QALTX	QSTFX	QEVOX
QMLFX		0.17	0.7	0.55	0.62	QMLFX
QBDSX	0.17		0.54	-0.4	-0.33	QBDSX
QALTX	0.7	0.54		0.42	0.47	QALTX
QSTFX	0.55	-0.4	0.42		0.77	QSTFX
QEVOX	0.62	-0.33	0.47	0.77		QEVOX
	QMLFX	QBDSX	QALTX	QSTFX	QEVOX

Click cells to compare fundamentals

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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

QEVOX	+ 0.77	QSTFX
QALTX	+ 0.7	QMLFX
QEVOX	+ 0.62	QMLFX
QSTFX	+ 0.55	QMLFX
QALTX	+ 0.54	QBDSX
QEVOX	+ 0.47	QALTX

High negative correlations

QSTFX	- 0.4	QBDSX
QEVOX	- 0.33	QBDSX

Risk-Adjusted Indicators

There is a big difference between The Mutual Fund performing well and The Gold Mutual Fund 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 The 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
QMLFX	1.00	(0.04)	0.03	0.10	1.34	(1.04)	1.97	(2.13)	7.48
QBDSX	0.24	(0.02)	(0.31)	0.07	0.23	(0.33)	0.48	(0.59)	1.45
QALTX	0.36	(0.04)	(0.19)	0.04	0.42	(0.42)	0.64	(0.84)	1.79
QSTFX	0.92	(0.13)	(0.06)	0.01	1.55	(0.95)	2.16	(2.56)	7.83
QEVOX	0.99	0.07	0.01	0.25	1.25	(1.03)	2.25	(2.61)	6.34

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