ZKB Gold Correlations

ZGLDUS Etf

USD 4,798 26.50 0.56%

The correlation of ZKB 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.

ZKB Gold Correlation With Market

Poor diversification

The correlation between ZKB Gold ETF and DJI is 0.74 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ZKB Gold ETF and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to ZKB 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 ZKB 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 ZKB 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 ZKB Gold ETF to buy it.

Moving together with ZKB Etf

0.97	ZGLDEU	ZKB Gold ETF	Pair Corr
0.79	ZSILEU	ZKB Silver ETF	Pair Corr
0.99	AUUSI	UBS ETF Gold	Pair Corr
0.97	AUCHAH	UBS ETF Gold	Pair Corr
0.76	ZSIL	ZKB Silver ETF	Pair Corr
0.78	ZSILHC	ZKB Silver ETF	Pair Corr
0.8	ZSILUS	ZKB Silver ETF	Pair Corr
0.93	GDXJ	VanEck Junior Gold	Pair Corr
0.94	AUCO	LG Gold Mining	Pair Corr
0.93	ESGO	AuAg Gold Mining	Pair Corr
0.93	HKOR	HSBC MSCI KOREA	Pair Corr
0.72	XMKO	Xtrackers MSCI Korea	Pair Corr
0.94	IKOR	iShares MSCI Korea	Pair Corr
0.92	GGMUSY	UBS ETF plc	Pair Corr
0.94	GDX	VanEck Gold Miners	Pair Corr
0.83	SPICHA	UBS ETF SPI	Pair Corr
0.84	GLUG	LG Clean Water	Pair Corr
0.9	SHEME	UBSFund Solutions	Pair Corr
0.71	AWSRIS	UBS ETF plc	Pair Corr
0.83	FACH	Invesco High Yield	Pair Corr
0.91	EMHD	Invesco FTSE Emerging	Pair Corr
0.68	IBZL	iShares MSCI Brazil	Pair Corr
0.83	IMEA	iShares Core MSCI	Pair Corr
0.84	SMMCHA	UBS ETF SMIM	Pair Corr
0.94	USFMA	UBS ETF plc	Pair Corr
0.87	JPHG	Amundi Index Solutions	Pair Corr
0.69	SX7EEX	iShares EURO STOXX	Pair Corr
0.94	PSRW	Invesco FTSE RAFI	Pair Corr
0.85	IWDP	iShares Developed Markets	Pair Corr
0.61	HYLC	iShares Global High	Pair Corr
0.89	IUES	iShares SP 500	Pair Corr
0.92	CSPXJ	iShares VII PLC	Pair Corr
0.87	TPXY	Amundi Index Solutions	Pair Corr

Moving against ZKB Etf

0.82

XRPL

CoinShares Physical XRP

Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		-0.09	-0.11	-0.05	0.14	-0.2	-0.05	0.11	-0.01	0.15	META
MSFT	-0.09		0.84	-0.59	-0.87	0.84	0.94	0.44	-0.92	-0.95	MSFT
UBER	-0.11	0.84		-0.54	-0.77	0.87	0.77	0.27	-0.82	-0.83	UBER
F	-0.05	-0.59	-0.54		0.35	-0.46	-0.5	-0.19	0.64	0.59	F
T	0.14	-0.87	-0.77	0.35		-0.76	-0.85	-0.37	0.79	0.8	T
A	-0.2	0.84	0.87	-0.46	-0.76		0.75	0.44	-0.77	-0.86	A
CRM	-0.05	0.94	0.77	-0.5	-0.85	0.75		0.58	-0.86	-0.93	CRM
JPM	0.11	0.44	0.27	-0.19	-0.37	0.44	0.58		-0.29	-0.47	JPM
MRK	-0.01	-0.92	-0.82	0.64	0.79	-0.77	-0.86	-0.29		0.93	MRK
XOM	0.15	-0.95	-0.83	0.59	0.8	-0.86	-0.93	-0.47	0.93		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

CRM	+ 0.94	MSFT
XOM	+ 0.93	MRK
A	+ 0.87	UBER
UBER	+ 0.84	MSFT
A	+ 0.84	MSFT
XOM	+ 0.8	T

High negative correlations

XOM	- 0.95	MSFT
XOM	- 0.93	CRM
MRK	- 0.92	MSFT
T	- 0.87	MSFT
MRK	- 0.86	CRM
XOM	- 0.86	A

ZKB Gold Competition Risk-Adjusted Indicators

There is a big difference between ZKB Etf performing well and ZKB 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 ZKB 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	1.47	0.07	0.03	0.12	1.58	(1.57)	2.38	(2.81)	13.69
MSFT	1.33	(0.28)	0.00	(0.60)	0.00	0.00	2.19	(2.87)	13.28
UBER	1.55	(0.17)	0.00	(0.34)	0.00	0.00	2.70	(3.82)	11.09
F	1.31	(0.03)	0.00	1.61	0.00	0.00	3.61	(2.59)	9.82
T	1.07	0.20	0.14	(0.72)	0.94	(1.26)	3.87	(1.76)	7.44
A	1.22	(0.40)	0.00	(0.38)	0.00	0.00	2.48	(2.73)	7.20
CRM	1.78	(0.27)	0.00	(0.21)	0.00	0.00	3.66	(4.75)	12.37
JPM	1.25	(0.09)	0.00	(0.02)	0.00	0.00	2.34	(3.11)	8.17
MRK	1.20	0.21	0.13	0.55	1.27	(1.26)	2.54	(2.06)	7.10
XOM	1.34	0.41	0.26	3.02	1.14	(1.59)	2.90	(2.44)	6.83

Be your own money manager

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