MicroSectors Gold Correlations

GDXU Etf

USD 85.79 3.92 4.79%

The current 90-days correlation between MicroSectors Gold Miners and First Trust Exchange Traded is -0.11 (i.e., Good diversification). The correlation of MicroSectors 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.

MicroSectors Gold Correlation With Market

Good diversification

The correlation between MicroSectors Gold Miners and DJI is -0.01 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding MicroSectors Gold Miners and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with MicroSectors Etf

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in MicroSectors 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 interest.

Moving together with MicroSectors Etf

0.8	DGP	DB Gold Double	Pair Corr
0.79	SHNY	Microsectors Gold	Pair Corr
0.62	RING	iShares MSCI Global	Pair Corr

Moving against MicroSectors Etf

0.44	INTC	Intel	Pair Corr
0.43	MRK	Merck Company Sell-off Trend	Pair Corr
0.39	CVX	Chevron Corp	Pair Corr
0.38	HPQ	HP Inc	Pair Corr
0.35	AA	Alcoa Corp	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.79	0.75	0.8	0.25	0.66	0.63	0.89	-0.02	0.07	META
MSFT	0.79		0.85	0.77	0.54	0.29	0.51	0.84	-0.5	-0.28	MSFT
UBER	0.75	0.85		0.89	0.32	0.24	0.64	0.92	-0.38	-0.21	UBER
F	0.8	0.77	0.89		0.33	0.54	0.76	0.9	-0.1	0.14	F
T	0.25	0.54	0.32	0.33		0.11	0.17	0.36	-0.33	0.06	T
A	0.66	0.29	0.24	0.54	0.11		0.65	0.45	0.58	0.69	A
CRM	0.63	0.51	0.64	0.76	0.17	0.65		0.62	0.13	0.36	CRM
JPM	0.89	0.84	0.92	0.9	0.36	0.45	0.62		-0.22	-0.03	JPM
MRK	-0.02	-0.5	-0.38	-0.1	-0.33	0.58	0.13	-0.22		0.72	MRK
XOM	0.07	-0.28	-0.21	0.14	0.06	0.69	0.36	-0.03	0.72		XOM
	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM

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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

JPM	+ 0.92	UBER
JPM	+ 0.9	F
JPM	+ 0.89	META
F	+ 0.89	UBER
UBER	+ 0.85	MSFT
JPM	+ 0.84	MSFT

High negative correlations

MRK	- 0.5	MSFT
MRK	- 0.38	UBER
MRK	- 0.33	T
XOM	- 0.28	MSFT
MRK	- 0.22	JPM
XOM	- 0.21	UBER

MicroSectors Gold Competition Risk-Adjusted Indicators

There is a big difference between MicroSectors Etf performing well and MicroSectors 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 MicroSectors 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
META	2.14	0.18	0.07	0.15	2.60	(2.34)	4.23	(4.29)	21.50
MSFT	1.27	0.30	0.19	0.34	1.18	(1.38)	2.58	(2.36)	13.79
UBER	1.91	0.24	0.10	0.23	2.30	(2.11)	4.19	(3.48)	16.18
F	1.71	0.09	0.04	0.13	2.29	(1.76)	2.90	(3.84)	13.07
T	1.17	0.15	0.07	0.53	1.76	(1.21)	2.01	(2.62)	8.83
A	1.79	(0.09)	0.00	(0.04)	0.00	0.00	2.76	(4.15)	14.45
CRM	1.56	(0.10)	0.00	(0.05)	0.00	0.00	3.02	(3.64)	13.13
JPM	1.30	0.20	0.09	0.22	2.01	(1.36)	2.75	(2.12)	11.14
MRK	1.58	(0.20)	0.00	(0.26)	0.00	0.00	2.55	(4.72)	10.60
XOM	1.32	0.04	0.01	0.08	2.15	(1.28)	2.80	(2.77)	10.53

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