Sprott Gold Correlations

Mutual Funds . USA . 
Fund . Sprott Gold Equity
SGDLX Fund  USD 63.73  0.75  1.16%   
The current 90-days correlation between Sprott Gold Equity and Sprott Junior Gold is 0.04 (i.e., Significant diversification). The correlation of Sprott 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.

Sprott Gold Correlation With Market

Average diversification

The correlation between Sprott Gold Equity and DJI is 0.18 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Sprott Gold Equity and DJI in the same portfolio, assuming nothing else is changed.
  
Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Sprott Gold Equity. 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 bureau of economic analysis.

Moving together with Sprott Mutual Fund

  1.0SGDIX Deutsche Gold PreciousPairCorr
  0.71SGGDX First Eagle GoldPairCorr
  0.71FEGIX First Eagle GoldPairCorr
  0.98FEGOX First Eagle GoldPairCorr
  0.71OPGSX Oppenheimer Gold SpecPairCorr
  1.0OGMCX Oppenheimer Gold SpecialPairCorr
  0.71FSAGX Gold Portfolio GoldPairCorr
  0.65FIJDX Gold Portfolio FidelityPairCorr
  0.89VTISX Vanguard Total InterPairCorr
  0.89VTSNX Vanguard Total InterPairCorr
  0.69VTPSX Vanguard Total InterPairCorr
  0.85DBIWX Dws Global MacroPairCorr
  0.85UTF Cohen And SteersPairCorr
  0.87HTD John Hancock TaxPairCorr
  0.82ABNOX Ab Bond InflationPairCorr
  0.64GIOIX Guggenheim Macro OppPairCorr
  0.61CSCO Cisco SystemsPairCorr
  0.71XOM Exxon Mobil CorpPairCorr
  0.79IBM International BusinessPairCorr
  0.71KO Coca ColaPairCorr
  0.63INTC IntelPairCorr
  0.61MCD McDonaldsPairCorr
  0.77JNJ Johnson JohnsonPairCorr
  0.82MMM 3M CompanyPairCorr

Moving against Sprott Mutual Fund

  0.33VINIX Vanguard InstitutionalPairCorr
  0.71MSFT MicrosoftPairCorr
  0.67MRK Merck CompanyPairCorr
  0.58DIS Walt DisneyPairCorr
  0.5HPQ HP IncPairCorr
  0.49AA Alcoa CorpPairCorr
  0.36HD Home DepotPairCorr
  0.35AXP American ExpressPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

Risk-Adjusted Indicators

There is a big difference between Sprott Mutual Fund performing well and Sprott 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 Sprott 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.

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