IShares Gold Correlations

IAUP Etf

CHF 36.85 0.20 0.55%

The current 90-days correlation between iShares Gold Producers and iShares MSCI Korea is 0.25 (i.e., Modest diversification). The correlation of IShares 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.

IShares Gold Correlation With Market

Very poor diversification

The correlation between iShares Gold Producers and DJI is 0.86 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding iShares Gold Producers and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to IShares 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 IShares 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 IShares 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 iShares Gold Producers to buy it.

Moving together with IShares Etf

1.0	GDX	VanEck Gold Miners	Pair Corr
0.99	GDXJ	VanEck Junior Gold	Pair Corr
1.0	AUCO	LG Gold Mining	Pair Corr
0.98	MAGB	Market Access NYSE	Pair Corr
1.0	GGMUSY	UBS ETF plc	Pair Corr
0.84	IJPE	iShares MSCI Japan	Pair Corr
0.87	SXLI	SPDR SP Industrials	Pair Corr
0.81	SCITY	Amundi Index Solutions	Pair Corr
0.9	AUEM	Amundi Index Solutions	Pair Corr
0.9	IEEM	iShares MSCI EM	Pair Corr
0.85	AASI	Amundi Index Solutions	Pair Corr
0.93	SMCX	SPDR MSCI Europe	Pair Corr
0.88	SX5D	Invesco EURO STOXX	Pair Corr
0.66	LQDE	iShares Corp Bond	Pair Corr
0.82	XSMI	Xtrackers Switzerland	Pair Corr
0.84	XESC	Xtrackers Euro Stoxx	Pair Corr
0.87	EMUEUA	UBSFund Solutions MSCI	Pair Corr
0.89	AFLT	Amundi Index Solutions	Pair Corr
0.76	VJPN	Vanguard FTSE Japan	Pair Corr
0.85	AJEUAS	UBS Fund Solutions	Pair Corr
0.89	C50	Amundi Index Solutions	Pair Corr
0.78	HMEU	HSBC MSCI Europe	Pair Corr
0.72	CWEUSD	Amundi Index Solutions	Pair Corr
0.88	SXXEEX	iShares EURO STOXX	Pair Corr
0.88	IFFF	iShares MSCI AC	Pair Corr
0.84	JPHG	Amundi Index Solutions	Pair Corr
0.62	VWRL	Vanguard FTSE All	Pair Corr
0.83	XMJP	Xtrackers MSCI Japan	Pair Corr
0.89	PSRW	Invesco FTSE RAFI	Pair Corr
0.84	JPESG	UBS ETF plc	Pair Corr
0.84	HMXJ	HSBC MSCI Pacific	Pair Corr
0.86	LCEU	BNP Paribas Easy	Pair Corr
0.83	CSBGU3	iShares VII PLC	Pair Corr
0.86	HIEM	HSBC MSCI Emerging	Pair Corr

Related Correlations Analysis

	SGWS	IGEA	SEMI	CSUKX	30ID	IASP	IWDC	IUHC	IKOR
SGWS		0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	SGWS
IGEA	0.0		-0.84	-0.83	0.02	-0.85	-0.56	-0.27	-0.9	IGEA
SEMI	0.0	-0.84		0.93	0.0	0.89	0.85	0.49	0.96	SEMI
CSUKX	0.0	-0.83	0.93		0.01	0.91	0.79	0.54	0.94	CSUKX
30ID	0.0	0.02	0.0	0.01		0.18	-0.07	-0.02	0.08	30ID
IASP	0.0	-0.85	0.89	0.91	0.18		0.65	0.49	0.95	IASP
IWDC	0.0	-0.56	0.85	0.79	-0.07	0.65		0.56	0.71	IWDC
IUHC	0.0	-0.27	0.49	0.54	-0.02	0.49	0.56		0.46	IUHC
IKOR	0.0	-0.9	0.96	0.94	0.08	0.95	0.71	0.46		IKOR
	SGWS	IGEA	SEMI	CSUKX	30ID	IASP	IWDC	IUHC	IKOR

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

IKOR	+ 0.96	SEMI
IKOR	+ 0.95	IASP
IKOR	+ 0.94	CSUKX
CSUKX	+ 0.93	SEMI
IASP	+ 0.91	CSUKX
IASP	+ 0.89	SEMI

High negative correlations

IKOR	- 0.9	IGEA
IASP	- 0.85	IGEA
SEMI	- 0.84	IGEA
CSUKX	- 0.83	IGEA
IWDC	- 0.56	IGEA
IUHC	- 0.27	IGEA

IShares Gold Constituents Risk-Adjusted Indicators

There is a big difference between IShares Etf performing well and IShares 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 IShares 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
SGWS	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
IGEA	0.28	(0.07)	0.00	1.88	0.00	0.00	0.54	(0.87)	2.10
SEMI	1.53	0.32	0.13	22.89	1.73	(1.73)	4.33	(2.47)	10.21
CSUKX	0.54	0.11	0.10	0.47	0.45	(0.59)	1.22	(1.02)	2.71
30ID	0.08	0.00	(0.14)	(0.03)	0.12	(0.20)	0.19	(0.19)	1.32
IASP	0.38	0.09	0.06	0.52	0.24	(0.71)	1.27	(0.71)	2.69
IWDC	0.48	0.00	(0.07)	0.06	0.61	(0.48)	0.97	(1.08)	2.73
IUHC	0.64	0.03	(0.02)	0.29	0.66	(0.75)	1.51	(1.17)	3.95
IKOR	1.62	0.63	0.24	(1.83)	1.44	(2.14)	3.48	(2.47)	14.94

Be your own money manager

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