Silver Bullion Correlations

SBT Etf

CAD 16.05 0.08 0.50%

The current 90-days correlation between Silver Bullion Trust and iShares Silver Bullion is -0.06 (i.e., Good diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Silver Bullion moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Silver Bullion Trust moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Silver Bullion Correlation With Market

Significant diversification

The correlation between Silver Bullion Trust and DJI is 0.01 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Silver Bullion Trust and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Silver Bullion could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Silver Bullion 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 Silver Bullion - 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 Silver Bullion Trust to buy it.

Moving together with Silver Etf

0.91	SVR	iShares Silver Bullion	Pair Corr
0.68	HGY	Global X Gold	Pair Corr
0.71	VALT	CI Gold Bullion	Pair Corr
0.68	HUG	Global X Gold	Pair Corr
0.88	HUZ	Global X Silver	Pair Corr
0.61	HQD	BetaPro NASDAQ 100	Pair Corr
0.76	VRE	Vanguard FTSE Canadian	Pair Corr

Moving against Silver Etf

0.7	HUN	Global X Natural	Pair Corr
0.53	FHE	First Trust Indxx	Pair Corr
0.52	HBLK	Blockchain Technologies	Pair Corr
0.52	LEAD	Evolve Future Leadership	Pair Corr
0.51	ZFC	BMO SIA Focused	Pair Corr
0.73	ZPAY	BMO Premium Yield	Pair Corr
0.73	SITU	Scotia Equity Index	Pair Corr
0.71	TBCF	TD Target 2026	Pair Corr
0.71	CINV	CI Global Alpha	Pair Corr
0.69	ZNQ	BMO NASDAQ 100	Pair Corr
0.66	ZMBS	BMO Canadian MBS	Pair Corr
0.66	ZUAG	BMO Aggregate Bond	Pair Corr
0.66	TERM	Manulife Smart Short	Pair Corr
0.65	DXP	Dynamic Active Preferred	Pair Corr
0.63	HERO	Evolve E Gaming	Pair Corr
0.61	HSAV	Global X Cash	Pair Corr
0.61	ESGG	BMO MSCI Global	Pair Corr
0.59	QETH-U	Ether Fund	Pair Corr
0.57	XQQ	iShares NASDAQ 100	Pair Corr
0.55	PFAE	Picton Mahoney Fortified	Pair Corr
0.5	TGRO	TD Growth ETF	Pair Corr
0.81	HRED	BetaPro Equal Weight	Pair Corr
0.79	MNY	Purpose Cash Management	Pair Corr
0.77	USCL	Global X Enhanced	Pair Corr
0.77	FBTC	Fidelity Advantage	Pair Corr
0.71	HBGD-U	Global X Big	Pair Corr
0.7	CEW	iShares Equal Weight	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.73	-0.57	-0.59	0.32	0.57	0.53	0.34	-0.06	-0.67	META
MSFT	0.73		-0.53	-0.24	0.56	0.23	0.65	0.25	-0.1	-0.47	MSFT
UBER	-0.57	-0.53		0.64	-0.58	-0.08	-0.78	-0.56	0.67	0.81	UBER
F	-0.59	-0.24	0.64		0.01	-0.25	-0.2	-0.07	0.2	0.9	F
T	0.32	0.56	-0.58	0.01		0.0	0.8	0.59	-0.45	-0.23	T
A	0.57	0.23	-0.08	-0.25	0.0		0.12	0.22	0.32	-0.19	A
CRM	0.53	0.65	-0.78	-0.2	0.8	0.12		0.7	-0.59	-0.44	CRM
JPM	0.34	0.25	-0.56	-0.07	0.59	0.22	0.7		-0.62	-0.25	JPM
MRK	-0.06	-0.1	0.67	0.2	-0.45	0.32	-0.59	-0.62		0.32	MRK
XOM	-0.67	-0.47	0.81	0.9	-0.23	-0.19	-0.44	-0.25	0.32		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	+ 0.81	UBER
CRM	+ 0.8	T
MSFT	+ 0.73	META
JPM	+ 0.7	CRM
MRK	+ 0.67	UBER

High negative correlations

CRM	- 0.78	UBER
XOM	- 0.67	META
MRK	- 0.62	JPM
MRK	- 0.59	CRM
F	- 0.59	META
T	- 0.58	UBER

Silver Bullion Competition Risk-Adjusted Indicators

There is a big difference between Silver Etf performing well and Silver Bullion 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 Silver Bullion'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	1.36	0.06	0.03	0.21	1.51	(1.56)	3.43	(3.15)	7.43
MSFT	0.92	0.04	0.01	1.07	1.58	(0.87)	2.09	(1.73)	8.14
UBER	1.63	(0.33)	0.00	(26.89)	0.00	0.00	2.67	(5.35)	12.29
F	1.38	(0.08)	0.00	(0.17)	0.00	0.00	2.38	(2.81)	11.21
T	0.97	0.08	0.06	0.24	1.10	(1.04)	1.91	(1.84)	7.96
A	1.21	0.03	0.01	0.09	1.45	(1.33)	2.72	(2.42)	8.06
CRM	1.41	0.17	0.10	0.79	1.45	(1.59)	3.16	(2.88)	14.80
JPM	1.03	0.25	0.17	1.11	1.11	(1.17)	1.92	(1.42)	15.87
MRK	1.00	(0.17)	0.00	(0.68)	0.00	0.00	1.74	(2.17)	5.17
XOM	0.76	(0.15)	0.00	(0.37)	0.00	0.00	1.71	(1.67)	6.06

Be your own money manager

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