Sprott Physical Correlations

PSLV Etf

USD 10.58 0.28 2.72%

The current 90-days correlation between Sprott Physical Silver and Sprott Physical Gold is 0.92 (i.e., Almost no diversification). The correlation of Sprott Physical 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.

Sprott Physical Correlation With Market

Significant diversification

The correlation between Sprott Physical Silver and DJI is 0.06 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Sprott Physical Silver and DJI in the same portfolio, assuming nothing else is changed.

Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Sprott Physical Silver. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in bureau of economic analysis.

Moving together with Sprott Etf

0.64	WD	Walker Dunlop	Pair Corr
0.71	XP	Xp Inc Normal Trading	Pair Corr

Moving against Sprott Etf

0.7	V	Visa Class A	Pair Corr
0.7	LC	LendingClub Corp	Pair Corr
0.67	DIST	Distoken Acquisition	Pair Corr
0.56	MC	Moelis Earnings Call This Week	Pair Corr
0.55	LX	Lexinfintech Holdings Trending	Pair Corr
0.55	PX	P10 Inc	Pair Corr
0.53	RM	Regional Management Corp Earnings Call This Week	Pair Corr
0.49	GS	Goldman Sachs Group	Pair Corr
0.44	QD	Qudian Inc	Pair Corr
0.44	VCTR	Victory Capital Holdings Earnings Call This Week	Pair Corr
0.42	DMYY	dMY Squared Technology	Pair Corr
0.39	DX	Dynex Capital	Pair Corr
0.39	MS	Morgan Stanley	Pair Corr
0.38	BN	Brookfield Corp Earnings Call This Week	Pair Corr
0.38	MA	Mastercard	Pair Corr
0.63	VIRT	Virtu Financial	Pair Corr
0.57	DYCQ	DT Cloud Acquisition	Pair Corr
0.46	EVGR	Evergreen Corp	Pair Corr
0.44	ESHA	ESH Acquisition Corp	Pair Corr
0.44	ANSCU	Agriculture Natural	Pair Corr
0.42	ENVA	Enova International	Pair Corr
0.41	WINV	WinVest Acquisition Corp	Pair Corr
0.39	EZPW	EZCORP Inc	Pair Corr
0.33	DISTR	Distoken Acquisition	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.62	-0.43	-0.5	0.58	0.77	0.5	0.62	-0.15	-0.63	META
MSFT	0.62		-0.46	-0.23	0.48	0.4	0.6	0.3	-0.01	-0.46	MSFT
UBER	-0.43	-0.46		0.65	-0.3	-0.2	-0.71	-0.25	0.31	0.78	UBER
F	-0.5	-0.23	0.65		0.05	-0.32	-0.17	-0.06	0.09	0.9	F
T	0.58	0.48	-0.3	0.05		0.41	0.67	0.59	-0.17	-0.17	T
A	0.77	0.4	-0.2	-0.32	0.41		0.25	0.72	-0.21	-0.39	A
CRM	0.5	0.6	-0.71	-0.17	0.67	0.25		0.5	-0.29	-0.41	CRM
JPM	0.62	0.3	-0.25	-0.06	0.59	0.72	0.5		-0.55	-0.24	JPM
MRK	-0.15	-0.01	0.31	0.09	-0.17	-0.21	-0.29	-0.55		0.16	MRK
XOM	-0.63	-0.46	0.78	0.9	-0.17	-0.39	-0.41	-0.24	0.16		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	+ 0.9	F
XOM	+ 0.78	UBER
A	+ 0.77	META
JPM	+ 0.72	A
CRM	+ 0.67	T
F	+ 0.65	UBER

High negative correlations

CRM	- 0.71	UBER
XOM	- 0.63	META
MRK	- 0.55	JPM
F	- 0.5	META
XOM	- 0.46	MSFT
UBER	- 0.46	MSFT

Sprott Physical Competition Risk-Adjusted Indicators

There is a big difference between Sprott Etf performing well and Sprott Physical 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 Sprott Physical'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	0.26	0.13	0.73	1.40	(1.61)	3.43	(2.31)	7.43
MSFT	1.12	(0.03)	0.00	(0.42)	0.00	0.00	2.20	(2.79)	7.31
UBER	1.56	(0.23)	0.00	(3.08)	0.00	0.00	2.67	(5.35)	12.29
F	1.47	(0.18)	0.00	(0.20)	0.00	0.00	2.57	(2.90)	11.21
T	1.00	0.10	0.04	0.30	1.08	(1.12)	1.91	(1.84)	7.94
A	1.20	0.19	0.11	0.48	1.06	(1.46)	2.92	(2.16)	8.06
CRM	1.51	0.34	0.15	2.71	1.42	(1.76)	3.70	(2.88)	14.80
JPM	1.05	0.25	0.15	0.96	1.05	(1.23)	1.92	(1.42)	15.87
MRK	1.03	(0.11)	0.00	(0.43)	0.00	0.00	2.00	(2.13)	5.24
XOM	0.82	(0.16)	0.00	(0.28)	0.00	0.00	1.71	(1.74)	6.06

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