DB Gold Correlations

DGP Etf  USD 101.80  0.09  0.09%   
The current 90-days correlation between DB Gold Double and MicroSectors Gold 3X is -0.98 (i.e., Pay attention - limited upside). The correlation of DB 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.

DB Gold Correlation With Market

Good diversification

The correlation between DB Gold Double and DJI is -0.01 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding DB Gold Double and DJI in the same portfolio, assuming nothing else is changed.
Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in DB Gold Double. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in price.

Moving together with DGP Etf

  0.83UGL ProShares Ultra GoldPairCorr
  0.71GDXU MicroSectors Gold MinersPairCorr
  0.78SHNY Microsectors GoldPairCorr
  0.66VEA Vanguard FTSE DevelopedPairCorr
  0.66EFA iShares MSCI EAFEPairCorr
  0.73GMOM Cambria Global MomentumPairCorr
  0.64EPP iShares MSCI PacificPairCorr
  0.76SGDJ Sprott Junior GoldPairCorr
  0.66INOV Innovator ETFs TrustPairCorr

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   
JPMMSFT
MSFTMETA
JPMMETA
AMETA
FUBER
JPMA
  
High negative correlations   
MRKCRM
MRKUBER
MRKMSFT
MRKMETA
MRKJPM

DB Gold Competition Risk-Adjusted Indicators

There is a big difference between DGP Etf performing well and DB 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 DB 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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
META  2.03  0.35  0.10 (14.73) 2.34 
 4.23 
 21.50 
MSFT  1.18  0.34  0.23  0.42  0.95 
 2.40 
 13.79 
UBER  2.01  0.47  0.16 (2.69) 2.20 
 5.87 
 16.18 
F  1.71  0.29  0.08 (1.18) 2.23 
 3.70 
 13.07 
T  1.16  0.00 (0.02) 0.08  1.84 
 2.36 
 8.47 
A  1.74 (0.01) 0.01  0.07  2.45 
 2.76 
 14.46 
CRM  1.59 (0.06)(0.02) 0.03  2.23 
 3.01 
 13.13 
JPM  1.32  0.16  0.07  0.22  2.07 
 2.75 
 11.14 
MRK  1.53 (0.12) 0.00 (0.09) 0.00 
 3.35 
 10.58 
XOM  1.46 (0.09) 0.00 (0.04) 0.00 
 2.77 
 10.53