BetaPro Gold Correlations

GLDD Etf

8.93 0.06 0.68%

The current 90-days correlation between BetaPro Gold Bullion and iShares 1 10Yr Laddered is -0.22 (i.e., Very good diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as BetaPro Gold moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if BetaPro Gold Bullion moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

BetaPro Gold Correlation With Market

Good diversification

The correlation between BetaPro Gold Bullion and DJI is -0.09 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding BetaPro Gold Bullion and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to BetaPro 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 BetaPro 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 BetaPro 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 BetaPro Gold Bullion to buy it.

Moving against BetaPro Etf

0.79	XIC	iShares Core SPTSX	Pair Corr
0.78	XIU	iShares SPTSX 60	Pair Corr
0.74	FTN	Financial 15 Split Split	Pair Corr
0.55	GDV	Global Dividend Growth	Pair Corr
0.54	ZEB	BMO SPTSX Equal	Pair Corr
0.49	ZCN	BMO SPTSX Capped	Pair Corr
0.48	LIFE	Evolve Global Healthcare	Pair Corr
0.8	FCMI	Fidelity Canadian Monthly	Pair Corr
0.73	XCV	iShares Canadian Value	Pair Corr
0.64	VVL	Vanguard Global Value	Pair Corr
0.6	DOLY	Purpose Dollarama Yield	Pair Corr
0.54	HEWB	Global X Equal	Pair Corr
0.51	RQO	RBC Target 2026	Pair Corr
0.5	ZPH	BMO Put Write	Pair Corr
0.48	ZIN	BMO SPTSX Equal	Pair Corr
0.43	EIT-UN	Canoe EIT Income	Pair Corr
0.41	PXC	Invesco RAFI Canadian	Pair Corr
0.41	ZDM	BMO MSCI EAFE	Pair Corr
0.39	FHH	First Trust AlphaDEX	Pair Corr
0.39	HFU	BetaPro SPTSX Capped	Pair Corr
0.36	VEQT	Vanguard All Equity	Pair Corr
0.31	ZEA	BMO MSCI EAFE	Pair Corr
0.86	FHM	First Trust NYSE	Pair Corr
0.83	ZMMK	BMO Money Market	Pair Corr
0.82	HLIT	Global X Lithium	Pair Corr
0.81	FLCD	Franklin FTSE Canada	Pair Corr
0.8	ZLB	BMO Low Volatility	Pair Corr
0.72	QCE	Mackenzie Canadian Large	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.66	0.54	-0.62	0.54	-0.57	0.22	-0.15	-0.56	-0.61	META
MSFT	0.66		0.83	-0.51	0.36	-0.2	0.07	-0.32	-0.77	-0.61	MSFT
UBER	0.54	0.83		-0.61	0.57	-0.27	-0.14	-0.27	-0.85	-0.59	UBER
F	-0.62	-0.51	-0.61		-0.7	0.53	0.3	0.41	0.69	0.75	F
T	0.54	0.36	0.57	-0.7		-0.52	-0.5	-0.21	-0.53	-0.47	T
A	-0.57	-0.2	-0.27	0.53	-0.52		-0.18	-0.26	0.46	0.23	A
CRM	0.22	0.07	-0.14	0.3	-0.5	-0.18		0.37	0.07	0.17	CRM
JPM	-0.15	-0.32	-0.27	0.41	-0.21	-0.26	0.37		0.32	0.41	JPM
MRK	-0.56	-0.77	-0.85	0.69	-0.53	0.46	0.07	0.32		0.65	MRK
XOM	-0.61	-0.61	-0.59	0.75	-0.47	0.23	0.17	0.41	0.65		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

UBER	+ 0.83	MSFT
XOM	+ 0.75	F
MRK	+ 0.69	F
MSFT	+ 0.66	META
XOM	+ 0.65	MRK
T	+ 0.57	UBER

High negative correlations

MRK	- 0.85	UBER
MRK	- 0.77	MSFT
T	- 0.7	F
F	- 0.62	META
F	- 0.61	UBER
XOM	- 0.61	MSFT

BetaPro Gold Competition Risk-Adjusted Indicators

There is a big difference between BetaPro Etf performing well and BetaPro 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 BetaPro 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	1.39	(0.24)	0.00	(0.19)	0.00	0.00	2.30	(2.72)	13.52
MSFT	0.90	(0.11)	0.00	(0.11)	0.00	0.00	1.78	(2.50)	5.08
UBER	1.46	(0.35)	0.00	(0.25)	0.00	0.00	2.60	(3.82)	10.51
F	1.51	0.13	0.08	0.16	1.69	(1.65)	3.38	(2.63)	16.30
T	0.97	(0.24)	0.00	(0.75)	0.00	0.00	1.61	(2.18)	5.75
A	1.25	0.07	0.06	0.13	1.31	(1.37)	2.34	(2.21)	11.03
CRM	1.54	0.06	0.03	0.13	1.97	(1.52)	3.66	(2.92)	9.91
JPM	1.05	0.00	0.01	0.07	1.40	(1.05)	2.00	(1.91)	7.02
MRK	1.45	0.40	0.28	0.53	1.08	(1.84)	4.85	(2.06)	11.45
XOM	0.94	0.06	0.01	0.33	0.99	(1.00)	1.96	(1.51)	4.99

Be your own money manager

Our tools can tell you how much better you can do entering a position in BetaPro 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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