GraniteShares Gold Financial Statements From 2010 to 2024
| BAR Etf | USD 26.04 0.07 0.27% |
Check GraniteShares Gold financial statements over time to gain insight into future company performance. You can evaluate financial statements to find patterns among GraniteShares Gold's main balance sheet or income statement drivers, such as , as well as many indicators such as . GraniteShares financial statements analysis is a perfect complement when working with GraniteShares Gold Valuation or Volatility modules.
GraniteShares |
GraniteShares Gold Trust ETF Beta Analysis
GraniteShares Gold's Beta is one of the most important measures of equity market volatility. Beta can be thought of as asset elasticity or sensitivity to market. In other words, it is a number that shows the relationship of an equity instrument to the financial market in which this instrument is traded. For example, if Beta of equity is 2, it is expected to significantly outperform market when the market is going up and significantly underperform when the market is going down. Similarly, Beta of 1 indicates that an asset and market will generate similar returns over time.
Current GraniteShares Gold Beta | 0.15 |
Most of GraniteShares Gold's fundamental indicators, such as Beta, are part of a valuation analysis module that helps investors searching for stocks that are currently trading at higher or lower prices than their real value. If the real value is higher than the market price, GraniteShares Gold Trust is considered to be undervalued, and we provide a buy recommendation. Otherwise, we render a sell signal.
In a nutshell, Beta is a measure of individual stock risk relative to the overall volatility of the stock market. and is calculated based on very sound finance theory - Capital Assets Pricing Model (CAPM).However, since Beta is calculated based on historical price movements it may not predict how a firm's stock is going to perform in the future.
| Competition |
In accordance with the recently published financial statements, GraniteShares Gold Trust has a Beta of 0.15. This is much higher than that of the Graniteshares family and significantly higher than that of the Commodities Focused category. The beta for all United States etfs is notably lower than that of the firm.
About GraniteShares Gold Financial Statements
GraniteShares Gold shareholders use historical fundamental indicators, such as revenue or net income, to determine how well the company is positioned to perform in the future. Although GraniteShares Gold investors may analyze each financial statement separately, they are all interrelated. The changes in GraniteShares Gold's assets and liabilities, for example, are also reflected in the revenues and expenses on on GraniteShares Gold's income statement. Understanding these patterns can help investors time the market effectively. Please read more on our fundamental analysis page.
The investment seeks to reflect generally the performance of the price of gold. Graniteshares Gold is traded on NYSEArca Exchange in the United States.
Pair Trading with GraniteShares Gold
One of the main advantages of trading using pair correlations is that every trade hedges away some risk. Because there are two separate transactions required, even if GraniteShares Gold position performs unexpectedly, the other equity can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in GraniteShares Gold will appreciate offsetting losses from the drop in the long position's value.Moving together with GraniteShares Etf
| 1.0 | GLD | SPDR Gold Shares | PairCorr |
| 1.0 | IAU | iShares Gold Trust | PairCorr |
| 0.93 | SLV | iShares Silver Trust Potential Growth | PairCorr |
| 1.0 | GLDM | SPDR Gold MiniShares | PairCorr |
| 1.0 | SGOL | abrdn Physical Gold | PairCorr |
Moving against GraniteShares Etf
The ability to find closely correlated positions to GraniteShares Gold could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace GraniteShares Gold when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back GraniteShares Gold - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling GraniteShares Gold Trust to buy it.
The correlation of GraniteShares 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 perfect positive correlation (i.e., a correlation coefficient of +1) implies that as GraniteShares Gold moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if GraniteShares Gold Trust moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Correlation analysis and pair trading evaluation for GraniteShares Gold can also be used as hedging techniques within a particular sector or industry or even over random equities to generate a better risk-adjusted return on your portfolios.Check out the analysis of GraniteShares Gold Correlation against competitors. You can also try the Equity Valuation module to check real value of public entities based on technical and fundamental data.
The market value of GraniteShares Gold Trust is measured differently than its book value, which is the value of GraniteShares that is recorded on the company's balance sheet. Investors also form their own opinion of GraniteShares Gold's value that differs from its market value or its book value, called intrinsic value, which is GraniteShares Gold's true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because GraniteShares Gold's market value can be influenced by many factors that don't directly affect GraniteShares Gold's underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between GraniteShares Gold's value and its price as these two are different measures arrived at by different means. Investors typically determine if GraniteShares Gold is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, GraniteShares Gold's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.