IShares Gold Correlations

Etfs . Switzerland . 
Etf . iShares Gold CHF
CSGLDC Etf  CHF 335.60  3.20  0.96%   
The current 90-days correlation between iShares Gold CHF and iShares SP 500 is 0.05 (i.e., Significant diversification). The correlation of IShares 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.

IShares Gold Correlation With Market

Poor diversification

The correlation between iShares Gold CHF and DJI is 0.77 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding iShares Gold CHF and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to IShares 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 IShares 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 IShares 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 iShares Gold CHF to buy it.

Moving together with IShares Etf

  0.97ZGLDUS ZKB Gold ETFPairCorr
  1.0ZGLDEU ZKB Gold ETFPairCorr
  0.81ZSILEU ZKB Silver ETFPairCorr
  0.97AUUSI UBS ETF GoldPairCorr
  1.0AUCHAH UBS ETF GoldPairCorr
  0.8ZSIL ZKB Silver ETFPairCorr
  0.82ZSILHC ZKB Silver ETFPairCorr
  0.83ZSILUS ZKB Silver ETFPairCorr
  0.94GDXJ VanEck Junior GoldPairCorr
  0.95AUCO LG Gold MiningPairCorr
  0.93ESGO AuAg Gold MiningPairCorr
  0.94HKOR HSBC MSCI KOREAPairCorr
  0.77XMKO Xtrackers MSCI KoreaPairCorr
  0.94IKOR iShares MSCI KoreaPairCorr
  0.94GGMUSY UBS ETF plcPairCorr
  0.94GDX VanEck Gold MinersPairCorr
  0.83SPICHA UBS ETF SPIPairCorr
  0.83GLUG LG Clean WaterPairCorr
  0.9SHEME UBSFund SolutionsPairCorr
  0.73AWSRIS UBS ETF plcPairCorr
  0.83FACH Invesco High YieldPairCorr
  0.93EMHD Invesco FTSE EmergingPairCorr
  0.67IBZL iShares MSCI BrazilPairCorr
  0.82IMEA iShares Core MSCIPairCorr
  0.85SMMCHA UBS ETF SMIMPairCorr
  0.92USFMA UBS ETF plcPairCorr
  0.86JPHG Amundi Index SolutionsPairCorr
  0.73SX7EEX iShares EURO STOXXPairCorr
  0.94PSRW Invesco FTSE RAFIPairCorr
  0.85IWDP iShares Developed MarketsPairCorr
  0.67HYLC iShares Global HighPairCorr
  0.9IUES iShares SP 500PairCorr
  0.94CSPXJ iShares VII PLCPairCorr
  0.87TPXY Amundi Index SolutionsPairCorr

Moving against IShares Etf

  0.8XRPL CoinShares Physical XRPPairCorr

Related Correlations Analysis


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

CRM
+ 0.93
MSFT
XOM
+ 0.92
MRK
A
+ 0.85
UBER
UBER
+ 0.84
MSFT
A
+ 0.81
MSFT
MRK
+ 0.77
T
  

High negative correlations

XOM
- 0.94
MSFT
MRK
- 0.92
MSFT
XOM
- 0.91
CRM
T
- 0.86
MSFT
XOM
- 0.85
A
CRM
- 0.85
T

IShares Gold Competition Risk-Adjusted Indicators

There is a big difference between IShares Etf performing well and IShares 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 IShares 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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
META  1.50  0.05  0.02  0.13  1.55 
(1.67)
 3.43 
(2.81)
 13.69 
MSFT  1.34 (0.29) 0.00 (0.49) 0.00 
 0.00 
 2.19 
(2.87)
 13.28 
UBER  1.57 (0.17) 0.00 (0.27) 0.00 
 0.00 
 2.70 
(3.82)
 11.09 
F  1.27  0.00  0.00  0.07  1.37 
(1.52)
 3.61 
(2.30)
 7.50 
T  1.03  0.17  0.07 (0.78) 0.94 
(1.22)
 3.87 
(1.76)
 7.44 
A  1.24 (0.46) 0.00 (0.38) 0.00 
 0.00 
 2.48 
(2.73)
 7.20 
CRM  1.82 (0.31) 0.00 (0.18) 0.00 
 0.00 
 3.66 
(4.75)
 12.37 
JPM  1.28 (0.11)(0.03) 0.01  1.84 
(1.30)
 2.34 
(3.11)
 8.17 
MRK  1.27  0.27  0.16  0.59  1.18 
(1.39)
 2.81 
(2.06)
 8.74 
XOM  1.31  0.44  0.25  10.44  1.07 
(1.56)
 2.90 
(2.44)
 6.83 

Be your own money manager

Our tools can tell you how much better you can do entering a position in IShares Gold without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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