Gold And Correlations

Mutual Funds . USA . 
Fund . Gold And Precious
USERX Fund  USD 14.77  0.17  1.14%   
The current 90-days correlation between Gold And Precious and Federated Clover Small is 0.43 (i.e., Very weak diversification). The correlation of Gold And 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.

Gold And Correlation With Market

Modest diversification

The correlation between Gold And Precious and DJI is 0.22 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Gold And Precious 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 Gold And Precious. 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 metropolitan statistical area.

Moving together with Gold Mutual Fund

  0.97UNWPX World Precious MineralsPairCorr
  0.74NEARX Near Term TaxPairCorr
  0.68UGSDX Us Government SecuritiesPairCorr
  0.99SGGDX First Eagle GoldPairCorr
  0.99FEGIX First Eagle GoldPairCorr
  0.99FEGOX First Eagle GoldPairCorr
  1.0OPGSX Oppenheimer Gold SpecPairCorr
  1.0OGMCX Oppenheimer Gold SpecialPairCorr
  0.99FSAGX Gold Portfolio GoldPairCorr
  0.99FIJDX Gold Portfolio FidelityPairCorr
  0.63ERH Allspring Utilities AndPairCorr
  0.82GIOIX Guggenheim Macro OppPairCorr
  0.96EPDPX Europac InternationalPairCorr
  0.85PSDNX Putnam Ultra ShortPairCorr
  0.81VSGDX Vanguard Short TermPairCorr
  0.84ABNOX Ab Bond InflationPairCorr
  0.77DLDFX Destinations Low DurationPairCorr
  0.71RXRPX American Funds RetirementPairCorr
  0.7SAEMX Sa Emerging MarketsPairCorr
  0.93ARBOX Absolute ConvertiblePairCorr
  0.63RNCIX Rivernorth E OpportunityPairCorr
  0.66USGDX Morgan Stanley GovernmentPairCorr
  0.86EBSIX Campbell Systematic MacroPairCorr
  0.85EMBAX Unconstrained EmergingPairCorr
  0.84GF New Germany ClosedPairCorr
  0.69EBSFX Eubel Brady SuttmanPairCorr
  0.63HWACX Hotchkis Wiley ValuePairCorr

Moving against Gold Mutual Fund

  0.53WRHIX Ivy High IncomePairCorr
  0.45WHIAX Ivy High IncomePairCorr
  0.44WHIYX Ivy High IncomePairCorr
  0.39IVHIX Ivy High IncomePairCorr
  0.38IHIFX Ivy High IncomePairCorr

Related Correlations Analysis

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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   
LMBMX
+ 0.97
VSFSX
PMDDX
+ 0.97
VSFSX
LMBMX
+ 0.95
MSSGX
MSSGX
+ 0.93
VSFSX
PMDDX
+ 0.93
LMBMX
PMDDX
+ 0.84
MSSGX
  
High negative correlations   
DFUKX
- 0.09
LMBMX
PMDDX
- 0.07
DFUKX
DFUKX
- 0.06
MSSGX
DFUKX
- 0.05
VSFSX
PMDDX
- 0.0
CCMSX
CCMSX
- 0.0
DFUKX

Risk-Adjusted Indicators

There is a big difference between Gold Mutual Fund performing well and Gold And 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 Gold And'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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