ZKB Gold Correlations

ZGLDUS Etf

USD 2,542 3.50 0.14%

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

Good diversification

The correlation between ZKB Gold ETF and DJI is -0.06 (i.e., Good 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 against ZKB Etf

0.51	LYJPN	Lyxor Japan UCITS	Pair Corr
0.51	VNRT	Vanguard FTSE North	Pair Corr
0.5	VUSA	Vanguard SP 500	Pair Corr
0.49	ETHW	WisdomTree Ethereum ETC	Pair Corr
0.48	BCHE	Invesco CoinShares Global	Pair Corr
0.46	CSSPX	iShares Core SP	Pair Corr
0.46	EBIZ	Global X E	Pair Corr
0.46	VCPA	Vanguard USD Corporate	Pair Corr
0.44	JPNJPA	UBSFund Solutions MSCI	Pair Corr
0.44	IUSA	iShares SP 500	Pair Corr
0.43	ERND	iShares Ultrashort Bond	Pair Corr
0.4	XWTS	Xtrackers MSCI World	Pair Corr
0.35	TRS3	SPDR Bloomberg 1	Pair Corr
0.32	ELTC	ETC Group Physical	Pair Corr
0.51	USTEC	UBS ETF plc	Pair Corr
0.49	ETHE	CoinShares Physical	Pair Corr
0.48	ETHE-USD	CoinShares Physical	Pair Corr
0.47	LOWV	SPDR SP 500	Pair Corr
0.44	ROBO	LG ROBO Global	Pair Corr
0.44	DRVE	Global X Autonomous	Pair Corr
0.43	USEUWH	UBS ETF plc	Pair Corr
0.42	VUTY	Vanguard USD Treasury	Pair Corr
0.42	VEMA	Vanguard USD Emerging	Pair Corr
0.39	EMD5	LG ESG Emerging	Pair Corr
0.36	ETHE-EUR	CoinShares Physical	Pair Corr
0.35	JE13	JPM BetaBuilders EUR	Pair Corr
0.34	HYLD	iShares Global High	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

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	1.36	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 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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