Roundhill Gold Correlations

GLDW Etf

USD 56.25 0.80 1.44%

The correlation of Roundhill 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.

Roundhill Gold Correlation With Market

Weak diversification

The correlation between Roundhill Gold WeeklyPay and DJI is 0.33 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Roundhill Gold WeeklyPay and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Roundhill Etf

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Roundhill Gold WeeklyPay. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in services.

Moving against Roundhill Etf

0.7	KORU	Direxion Daily South	Pair Corr
0.59	MUU	Direxion Daily MU Trending	Pair Corr
0.59	MULL	GraniteShares 2x Long Trending	Pair Corr
0.58	DRAI	Draco Evolution AI	Pair Corr
0.53	STK	Columbia Seligman Premium	Pair Corr
0.43	EDOG	ALPS Emerging Sector	Pair Corr
0.43	DJIA	Global X Dow	Pair Corr
0.39	PRVS	Parnassus Income Funds	Pair Corr
0.36	HEQQ	JPMorgan Nasdaq Hedged	Pair Corr
0.58	DBJP	Xtrackers MSCI Japan	Pair Corr
0.56	SJB	ProShares Short High	Pair Corr
0.53	BLCR	BlackRock Large Cap	Pair Corr
0.53	TRSY	Xtrackers 0 1	Pair Corr
0.49	SBIO	ALPS Medical Breakth	Pair Corr
0.48	WEBS	Direxion Daily Dow	Pair Corr
0.37	QQQ	Invesco QQQ Trust	Pair Corr
0.35	SWP	SWP Growth Income	Pair Corr
0.32	LITP	Sprott Lithium Miners	Pair Corr
0.32	FVAL	Fidelity Value Factor	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.66	0.59	-0.66	0.6	-0.63	0.24	-0.12	-0.61	-0.65	META
MSFT	0.66		0.84	-0.51	0.36	-0.25	0.12	-0.27	-0.77	-0.6	MSFT
UBER	0.59	0.84		-0.62	0.58	-0.37	-0.05	-0.13	-0.84	-0.57	UBER
F	-0.66	-0.51	-0.62		-0.72	0.59	0.25	0.35	0.71	0.76	F
T	0.6	0.36	0.58	-0.72		-0.61	-0.41	-0.09	-0.55	-0.49	T
A	-0.63	-0.25	-0.37	0.59	-0.61		-0.16	-0.26	0.56	0.32	A
CRM	0.24	0.12	-0.05	0.25	-0.41	-0.16		0.29	-0.03	0.09	CRM
JPM	-0.12	-0.27	-0.13	0.35	-0.09	-0.26	0.29		0.18	0.3	JPM
MRK	-0.61	-0.77	-0.84	0.71	-0.55	0.56	-0.03	0.18		0.64	MRK
XOM	-0.65	-0.6	-0.57	0.76	-0.49	0.32	0.09	0.3	0.64		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	+ 0.84	MSFT
XOM	+ 0.76	F
MRK	+ 0.71	F
MSFT	+ 0.66	META
XOM	+ 0.64	MRK
T	+ 0.6	META

High negative correlations

MRK	- 0.84	UBER
MRK	- 0.77	MSFT
T	- 0.72	F
F	- 0.66	META
XOM	- 0.65	META
A	- 0.63	META

Roundhill Gold Competition Risk-Adjusted Indicators

There is a big difference between Roundhill Etf performing well and Roundhill 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 Roundhill 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	1.41	(0.29)	0.00	(0.25)	0.00	0.00	2.30	(2.72)	13.52
MSFT	0.92	(0.14)	0.00	(0.16)	0.00	0.00	1.78	(2.50)	5.08
UBER	1.49	(0.34)	0.00	(0.26)	0.00	0.00	2.60	(3.82)	10.51
F	1.49	0.17	0.10	0.17	1.70	(1.62)	3.38	(2.63)	16.30
T	0.95	(0.27)	0.00	(0.91)	0.00	0.00	1.61	(2.18)	5.75
A	1.25	0.08	0.06	0.13	1.31	(1.33)	2.34	(2.21)	11.03
CRM	1.58	0.06	0.03	0.11	2.05	(1.53)	3.66	(2.92)	9.91
JPM	1.03	(0.02)	(0.01)	0.04	1.40	(1.03)	2.00	(1.91)	7.02
MRK	1.47	0.35	0.25	0.47	1.11	(1.91)	4.85	(2.06)	11.45
XOM	0.96	0.07	0.02	0.36	0.99	(1.01)	1.96	(1.51)	4.99

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