VanEck Merk Correlations
OUNZ Etf | USD 22.24 0.02 0.09% |
The correlation of VanEck Merk 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 VanEck Merk moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if VanEck Merk Gold 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.
Modest diversification
The correlation between VanEck Merk Gold and NYA is 0.29 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding VanEck Merk Gold and NYA in the same portfolio, assuming nothing else is changed.
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The ability to find closely correlated positions to VanEck Merk could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace VanEck Merk 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 VanEck Merk - 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 VanEck Merk Gold to buy it.
Moving together with VanEck Etf
1.0 | GLD | SPDR Gold Shares Sell-off Trend | PairCorr |
1.0 | IAU | iShares Gold Trust Sell-off Trend | PairCorr |
0.98 | SLV | iShares Silver Trust | PairCorr |
1.0 | GLDM | SPDR Gold MiniShares Sell-off Trend | PairCorr |
1.0 | SGOL | abrdn Physical Gold Sell-off Trend | PairCorr |
0.87 | USO | United States Oil | PairCorr |
0.93 | DBA | Invesco DB Agriculture | PairCorr |
1.0 | GLTR | abrdn Physical Precious | PairCorr |
0.97 | SIVR | abrdn Physical Silver | PairCorr |
1.0 | IAUM | iShares Gold Trust Sell-off Trend | PairCorr |
0.78 | SHLD | Global X Funds | PairCorr |
0.62 | WMT | Walmart Financial Report 16th of May 2024 | PairCorr |
Moving against VanEck Etf
0.92 | BA | Boeing Financial Report 24th of July 2024 | PairCorr |
0.91 | HUM | Humana Inc Sell-off Trend | PairCorr |
0.74 | SMI | VanEck Vectors ETF | PairCorr |
0.87 | MCD | McDonalds Financial Report 25th of July 2024 | PairCorr |
0.76 | JNJ | Johnson Johnson Aggressive Push | PairCorr |
Related Correlations Analysis
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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
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VanEck Merk Competition Risk-Adjusted Indicators
There is a big difference between VanEck Etf performing well and VanEck Merk 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 VanEck Merk'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 | ||
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META | 1.91 | 0.13 | 0.06 | 0.15 | 2.35 | 3.27 | 30.88 | |||
MSFT | 1.03 | (0.09) | 0.00 | (0.03) | 0.00 | 2.11 | 5.87 | |||
UBER | 1.64 | (0.02) | 0.01 | 0.03 | 1.73 | 2.64 | 18.39 | |||
F | 1.60 | 0.04 | 0.05 | 0.06 | 1.92 | 4.88 | 10.80 | |||
T | 0.88 | (0.06) | 0.00 | (0.15) | 0.00 | 1.88 | 4.89 | |||
A | 1.24 | (0.03) | 0.00 | 0.03 | 1.42 | 2.29 | 6.31 | |||
CRM | 1.23 | (0.14) | 0.00 | (0.05) | 0.00 | 2.64 | 10.84 | |||
JPM | 0.77 | 0.08 | 0.06 | 0.11 | 1.28 | 1.94 | 8.65 | |||
MRK | 0.69 | 0.05 | 0.05 | 0.12 | 0.63 | 1.35 | 6.92 | |||
XOM | 0.82 | 0.14 | 0.11 | 0.36 | 0.89 | 1.77 | 5.64 |
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Our tools can tell you how much better you can do entering a position in VanEck Merk 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.Did you try this?
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Already Invested in VanEck Merk Gold?
The danger of trading VanEck Merk Gold is mainly related to its market volatility and ETF specific events. As an investor, you must understand the concept of risk-adjusted return before you start trading. The most common way to measure the risk of VanEck Merk is by using the Sharpe ratio. The ratio expresses how much excess return you acquire for the extra volatility you endure for holding a more risker asset than VanEck Merk. The Sharpe ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile VanEck Merk Gold is, you must compare it to a benchmark. Traditionally, the risk-free rate of return is the rate of return on the shortest-dated U.S. Treasury, such as a 3-year bond.
When determining whether VanEck Merk Gold offers a strong return on investment in its stock, a comprehensive analysis is essential. The process typically begins with a thorough review of VanEck Merk's financial statements, including income statements, balance sheets, and cash flow statements, to assess its financial health. Key financial ratios are used to gauge profitability, efficiency, and growth potential of Vaneck Merk Gold Etf. Outlined below are crucial reports that will aid in making a well-informed decision on Vaneck Merk Gold Etf: Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in VanEck Merk Gold. Also, note that the market value of any etf could be tightly coupled with the direction of predictive economic indicators such as signals in board of governors. You can also try the Portfolio Suggestion module to get suggestions outside of your existing asset allocation including your own model portfolios.
The market value of VanEck Merk Gold is measured differently than its book value, which is the value of VanEck that is recorded on the company's balance sheet. Investors also form their own opinion of VanEck Merk's value that differs from its market value or its book value, called intrinsic value, which is VanEck Merk'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 VanEck Merk's market value can be influenced by many factors that don't directly affect VanEck Merk'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 VanEck Merk's value and its price as these two are different measures arrived at by different means. Investors typically determine if VanEck Merk is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, VanEck Merk'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.