Graniteshares Gold Trust Etf Fundamentals
| BAR Etf | USD 25.93 0.77 2.88% |
GraniteShares Gold Trust fundamentals help investors to digest information that contributes to GraniteShares Gold's financial success or failures. It also enables traders to predict the movement of GraniteShares Etf. The fundamental analysis module provides a way to measure GraniteShares Gold's intrinsic value by examining its available economic and financial indicators, including the cash flow records, the balance sheet account changes, the income statement patterns, and various microeconomic indicators and financial ratios related to GraniteShares Gold etf.
GraniteShares |
GraniteShares Gold Trust ETF Beta Analysis
GraniteShares Gold's Beta is one of the most important measures of equity market volatility. Beta can be thought of as asset elasticity or sensitivity to market. In other words, it is a number that shows the relationship of an equity instrument to the financial market in which this instrument is traded. For example, if Beta of equity is 2, it is expected to significantly outperform market when the market is going up and significantly underperform when the market is going down. Similarly, Beta of 1 indicates that an asset and market will generate similar returns over time.
Current GraniteShares Gold Beta | 0.15 |
Most of GraniteShares Gold's fundamental indicators, such as Beta, are part of a valuation analysis module that helps investors searching for stocks that are currently trading at higher or lower prices than their real value. If the real value is higher than the market price, GraniteShares Gold Trust is considered to be undervalued, and we provide a buy recommendation. Otherwise, we render a sell signal.
In a nutshell, Beta is a measure of individual stock risk relative to the overall volatility of the stock market. and is calculated based on very sound finance theory - Capital Assets Pricing Model (CAPM).However, since Beta is calculated based on historical price movements it may not predict how a firm's stock is going to perform in the future.
| Competition |
In accordance with the recently published financial statements, GraniteShares Gold Trust has a Beta of 0.15. This is much higher than that of the Graniteshares family and significantly higher than that of the Commodities Focused category. The beta for all United States etfs is notably lower than that of the firm.
GraniteShares Beta Peer Comparison
Stock peer comparison is one of the most widely used and accepted methods of equity analyses. It analyses GraniteShares Gold's direct or indirect competition against its Beta to detect undervalued stocks with similar characteristics or determine the etfs which would be a good addition to a portfolio. Peer analysis of GraniteShares Gold could also be used in its relative valuation, which is a method of valuing GraniteShares Gold by comparing valuation metrics of similar companies.GraniteShares Gold is currently under evaluation in beta as compared to similar ETFs.
As returns on the market increase, GraniteShares Gold's returns are expected to increase less than the market. However, during the bear market, the loss of holding GraniteShares Gold is expected to be smaller as well.
GraniteShares Fundamentals
| Number Of Employees | 20 | |||
| Beta | 0.15 | |||
| Total Asset | 831.6 M | |||
| One Year Return | 35.60 % | |||
| Three Year Return | 14.20 % | |||
| Five Year Return | 12.80 % | |||
| Net Asset | 831.6 M |
About GraniteShares Gold Fundamental Analysis
The Macroaxis Fundamental Analysis modules help investors analyze GraniteShares Gold Trust's financials across various querterly and yearly statements, indicators and fundamental ratios. We help investors to determine the real value of GraniteShares Gold using virtually all public information available. We use both quantitative as well as qualitative analysis to arrive at the intrinsic value of GraniteShares Gold Trust based on its fundamental data. In general, a quantitative approach, as applied to this etf, focuses on analyzing financial statements comparatively, whereas a qaualitative method uses data that is important to a company's growth but cannot be measured and presented in a numerical way.
Please read more on our fundamental analysis page.The investment seeks to reflect generally the performance of the price of gold. Graniteshares Gold is traded on NYSEArca Exchange in the United States.
Pair Trading with GraniteShares Gold
One of the main advantages of trading using pair correlations is that every trade hedges away some risk. Because there are two separate transactions required, even if GraniteShares Gold position performs unexpectedly, the other equity can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in GraniteShares Gold will appreciate offsetting losses from the drop in the long position's value.Moving together with GraniteShares Etf
| 1.0 | GLD | SPDR Gold Shares | PairCorr |
| 1.0 | IAU | iShares Gold Trust | PairCorr |
| 0.94 | SLV | iShares Silver Trust | PairCorr |
| 1.0 | GLDM | SPDR Gold MiniShares | PairCorr |
| 1.0 | SGOL | abrdn Physical Gold | PairCorr |
The ability to find closely correlated positions to GraniteShares 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 GraniteShares 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 GraniteShares 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 GraniteShares Gold Trust to buy it.
The correlation of GraniteShares 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 perfect positive correlation (i.e., a correlation coefficient of +1) implies that as GraniteShares Gold moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if GraniteShares Gold Trust moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Correlation analysis and pair trading evaluation for GraniteShares Gold can also be used as hedging techniques within a particular sector or industry or even over random equities to generate a better risk-adjusted return on your portfolios.Check out GraniteShares Gold Piotroski F Score and GraniteShares Gold Altman Z Score analysis. You can also try the Efficient Frontier module to plot and analyze your portfolio and positions against risk-return landscape of the market..
The market value of GraniteShares Gold Trust is measured differently than its book value, which is the value of GraniteShares that is recorded on the company's balance sheet. Investors also form their own opinion of GraniteShares Gold's value that differs from its market value or its book value, called intrinsic value, which is GraniteShares Gold's true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because GraniteShares Gold's market value can be influenced by many factors that don't directly affect GraniteShares Gold's underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between GraniteShares Gold's value and its price as these two are different measures arrived at by different means. Investors typically determine if GraniteShares Gold is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, GraniteShares Gold's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.