BetaPro Gold Correlations

GLDU Etf

49.82 2.28 4.80%

The current 90-days correlation between BetaPro Gold Bullion and BMO SPTSX Equal is 0.18 (i.e., Average 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

Poor diversification

The correlation between BetaPro Gold Bullion and DJI is 0.76 (i.e., Poor 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 together with BetaPro Etf

0.79	XIU	iShares SPTSX 60	Pair Corr
0.61	XSP	iShares Core SP	Pair Corr
0.86	XIC	iShares Core SPTSX	Pair Corr
0.86	ZCN	BMO SPTSX Capped	Pair Corr
0.71	ZEB	BMO SPTSX Equal	Pair Corr
0.75	FTN	Financial 15 Split Split	Pair Corr
0.73	CALL	Evolve Banks Enhanced	Pair Corr
0.77	NXF	First Asset Energy	Pair Corr
0.9	GDV	Global Dividend Growth	Pair Corr
0.87	EIT-UN	Canoe EIT Income	Pair Corr
0.95	NMNG	Ninepoint Mining Evo	Pair Corr
0.74	XEG	iShares SPTSX Capped	Pair Corr
0.87	ATSX	Accelerate Canadian Long	Pair Corr
0.68	ZMID	BMO SP Mid	Pair Corr
0.77	RAAA	Corton Enhanced Income	Pair Corr
0.73	ZUD	BMO Dividend Hedged	Pair Corr
0.73	NHYB	NBI High Yield	Pair Corr
0.87	GCTB	Guardian Ultra Short	Pair Corr
0.85	XEU	iShares MSCI Europe	Pair Corr
0.8	HXX	Global X Europe	Pair Corr
0.7	XSB	iShares Canadian Short	Pair Corr
0.74	CTMB	CI Target 2029	Pair Corr
0.64	CPD	iShares SPTSX Canadian	Pair Corr
0.77	HPF	Harvest Energy Leaders	Pair Corr
0.82	BMAX	Brompton Enhanced Multi	Pair Corr
0.84	XEN	iShares Jantzi Social	Pair Corr
0.81	UDIV	Manulife Smart Dividend	Pair Corr
0.81	TERM	Manulife Smart Short	Pair Corr
0.73	ZCON	BMO Conservative ETF	Pair Corr

Moving against BetaPro Etf

0.33

TCLB

TD Canadian Long

Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		-0.41	-0.46	0.43	0.16	-0.53	-0.1	0.33	0.48	0.43	META
MSFT	-0.41		0.8	-0.53	-0.65	0.71	0.81	0.06	-0.85	-0.91	MSFT
UBER	-0.46	0.8		-0.46	-0.48	0.78	0.53	-0.09	-0.8	-0.74	UBER
F	0.43	-0.53	-0.46		0.06	-0.41	-0.23	0.3	0.68	0.6	F
T	0.16	-0.65	-0.48	0.06		-0.39	-0.75	-0.13	0.4	0.58	T
A	-0.53	0.71	0.78	-0.41	-0.39		0.48	-0.04	-0.63	-0.78	A
CRM	-0.1	0.81	0.53	-0.23	-0.75	0.48		0.44	-0.56	-0.81	CRM
JPM	0.33	0.06	-0.09	0.3	-0.13	-0.04	0.44		0.21	-0.08	JPM
MRK	0.48	-0.85	-0.8	0.68	0.4	-0.63	-0.56	0.21		0.82	MRK
XOM	0.43	-0.91	-0.74	0.6	0.58	-0.78	-0.81	-0.08	0.82		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

XOM	+ 0.82	MRK
CRM	+ 0.81	MSFT
UBER	+ 0.8	MSFT
A	+ 0.78	UBER
A	+ 0.71	MSFT
MRK	+ 0.68	F

High negative correlations

XOM	- 0.91	MSFT
MRK	- 0.85	MSFT
XOM	- 0.81	CRM
MRK	- 0.8	UBER
XOM	- 0.78	A
CRM	- 0.75	T

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	1.51	0.00	(0.02)	0.06	1.53	(1.82)	3.43	(2.82)	13.69
MSFT	1.32	(0.36)	0.00	(0.92)	0.00	0.00	1.90	(2.74)	13.28
UBER	1.50	(0.46)	0.00	(0.90)	0.00	0.00	2.41	(3.82)	11.09
F	1.22	0.07	0.05	0.14	1.20	(1.48)	3.34	(2.30)	7.16
T	1.02	0.23	0.17	3.71	0.77	(1.19)	3.87	(1.54)	5.31
A	1.27	(0.30)	0.00	(0.17)	0.00	0.00	2.90	(2.73)	7.85
CRM	1.68	(0.41)	0.00	(0.35)	0.00	0.00	2.94	(4.75)	12.37
JPM	1.26	(0.15)	0.00	(0.04)	0.00	0.00	2.34	(3.11)	7.38
MRK	1.35	0.49	0.35	0.77	0.97	(1.72)	3.59	(1.98)	8.74
XOM	1.24	0.36	0.22	1.65	1.11	(1.42)	2.68	(2.12)	6.83

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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