Sprott Gold Correlations

SGDM Etf

USD 36.55 0.45 1.22%

The current 90-days correlation between Sprott Gold Miners and Sprott Junior Gold is 0.91 (i.e., Almost no diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Sprott Gold moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Sprott Gold Miners moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Sprott Gold Correlation With Market

Modest diversification

The correlation between Sprott Gold Miners and DJI is 0.24 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Sprott Gold Miners 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 Miners. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in unemployment.

Moving together with Sprott Etf

1.0	GDX	VanEck Gold Miners	Pair Corr
0.94	SIL	Global X Silver	Pair Corr
0.93	SILJ	Amplify ETF Trust	Pair Corr
0.98	SGDJ	Sprott Junior Gold	Pair Corr
0.99	GOAU	US Global GO	Pair Corr
0.98	GOEX	Global X Gold	Pair Corr
0.99	GDXU	MicroSectors Gold Miners	Pair Corr
0.93	JMST	JPMorgan Ultra Short	Pair Corr
0.83	BBEM	JP Morgan Exchange	Pair Corr
0.87	GHMS	Goose Hollow Multi	Pair Corr
0.9	ACWV	iShares MSCI Global	Pair Corr
0.7	MCD	McDonalds	Pair Corr
0.81	IBM	International Business	Pair Corr
0.66	INTC	Intel	Pair Corr
0.81	MMM	3M Company	Pair Corr
0.86	JNJ	Johnson Johnson	Pair Corr
0.78	VZ	Verizon Communications	Pair Corr
0.83	GE	GE Aerospace	Pair Corr
0.69	TRV	The Travelers Companies	Pair Corr
0.82	KO	Coca Cola	Pair Corr

Moving against Sprott Etf

0.63	WTMF	WisdomTree Managed	Pair Corr
0.37	ARKW	ARK Next Generation	Pair Corr
0.36	OIH	VanEck Oil Services	Pair Corr
0.66	MRK	Merck Company	Pair Corr
0.6	CAT	Caterpillar	Pair Corr
0.56	HPQ	HP Inc	Pair Corr
0.47	AXP	American Express	Pair Corr
0.46	HD	Home Depot	Pair Corr

Related Correlations Analysis

	SGDJ	RING	GOAU	PHYS	SPPP
SGDJ		0.98	0.98	0.95	0.89	SGDJ
RING	0.98		0.99	0.98	0.9	RING
GOAU	0.98	0.99		0.96	0.9	GOAU
PHYS	0.95	0.98	0.96		0.86	PHYS
SPPP	0.89	0.9	0.9	0.86		SPPP
	SGDJ	RING	GOAU	PHYS	SPPP

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Sprott Gold Constituents Risk-Adjusted Indicators

There is a big difference between Sprott Etf performing well and Sprott 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 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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
SGDJ	1.58	0.23	0.11	0.42	2.12	(1.50)	3.37	(3.47)	9.09
RING	1.41	0.35	0.20	0.65	1.60	(1.54)	3.46	(3.12)	8.03
GOAU	1.36	0.30	0.19	0.56	1.53	(1.51)	3.21	(3.10)	7.76
PHYS	0.65	0.20	0.29	20.71	0.68	(0.71)	1.31	(1.18)	3.08
SPPP	0.90	0.09	0.12	0.28	1.08	(0.91)	1.67	(1.75)	4.10

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