USCF Gold Correlations

Etfs . USA . 
Etf . USCF Gold Strategy
GLDX Etf  USD 42.69  0.08  0.19%   
The correlation of USCF 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. If the correlation is 0, the equities are not correlated; they are entirely random.

USCF Gold Correlation With Market

Average diversification

The correlation between USCF Gold Strategy and DJI is 0.18 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding USCF Gold Strategy and DJI in the same portfolio, assuming nothing else is changed.
  
Build AI portfolio with USCF Etf
Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in USCF Gold Strategy. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in commodities.

Moving together with USCF Etf

  0.93GLD SPDR Gold SharesPairCorr
  0.93IAU iShares Gold TrustPairCorr
  0.93SLV iShares Silver Trust Aggressive PushPairCorr
  0.79GLDM SPDR Gold MiniPairCorr
  0.93SGOL abrdn Physical GoldPairCorr
  0.76GLTR abrdn Physical PreciousPairCorr
  0.91SIVR abrdn Physical SilverPairCorr
  0.79IAUM iShares Gold TrustPairCorr
  0.88MUU Direxion Daily MU Downward RallyPairCorr
  0.78MULL GraniteShares 2x Long Downward RallyPairCorr
  0.77KORU Direxion Daily SouthPairCorr
  0.8GDMN WisdomTree Efficient GoldPairCorr
  0.89AGQ ProShares Ultra SilverPairCorr
  0.76TLTW iShares TrustPairCorr
  0.75GJUN First Trust ExchangePairCorr
  0.78GMAY First Trust ExchangePairCorr
  0.85ASA ASA GoldPairCorr
  0.88VCLN Virtus Duff PhelpsPairCorr
  0.7QDTE Roundhill ETF TrustPairCorr
  0.64FNDF Schwab FundamentalPairCorr
  0.92SIXD AIM ETF ProductsPairCorr
  0.77DIHP Dimensional InternationalPairCorr
  0.68QDEF FlexShares QualityPairCorr
  0.81ICLN iShares Global CleanPairCorr
  0.77DIEM Franklin Templeton ETFPairCorr
  0.96VBIL Vanguard 0 3PairCorr
  0.87DHDG FT Vest EquityPairCorr

Moving against USCF Etf

  0.78DBA Invesco DB AgriculturePairCorr
  0.65USO United States OilPairCorr
  0.47CONY YieldMax N OptionPairCorr

Related Correlations Analysis


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

DHDG
+ 0.87
GLDX
DHDG
+ 0.68
CPXR
CPXR
+ 0.67
GLDX
DHLX
+ 0.58
MBCC
DHLX
+ 0.57
Z
MBBB
+ 0.44
MBCC
  

High negative correlations

Z
- 0.77
GLDX
Z
- 0.66
CPXR
Z
- 0.62
DHDG
DHLX
- 0.46
GLDX
DHLX
- 0.34
DHDG
DHLX
- 0.25
CPXR

USCF Gold Constituents Risk-Adjusted Indicators

There is a big difference between USCF Etf performing well and USCF 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 USCF 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.

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