USCF Gold Correlations

GLDX Etf

USD 35.28 0.32 0.92%

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

Very good diversification

The correlation between USCF Gold Strategy and DJI is -0.21 (i.e., Very good 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 unemployment.

Moving together with USCF Etf

0.79	GLDM	SPDR Gold Mini	Pair Corr
0.74	GLTR	abrdn Physical Precious	Pair Corr
0.79	IAUM	iShares Gold Trust	Pair Corr

Moving against USCF Etf

0.44

HPQ

HP Inc

Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.95	0.83	0.84	0.71	0.91	0.48	0.92	-0.05	0.46	META
MSFT	0.95		0.89	0.85	0.7	0.89	0.58	0.96	-0.1	0.41	MSFT
UBER	0.83	0.89		0.91	0.64	0.76	0.73	0.89	-0.2	0.34	UBER
F	0.84	0.85	0.91		0.68	0.82	0.6	0.88	0.02	0.52	F
T	0.71	0.7	0.64	0.68		0.73	0.32	0.72	0.28	0.47	T
A	0.91	0.89	0.76	0.82	0.73		0.49	0.9	0.18	0.65	A
CRM	0.48	0.58	0.73	0.6	0.32	0.49		0.57	-0.2	0.16	CRM
JPM	0.92	0.96	0.89	0.88	0.72	0.9	0.57		-0.04	0.51	JPM
MRK	-0.05	-0.1	-0.2	0.02	0.28	0.18	-0.2	-0.04		0.44	MRK
XOM	0.46	0.41	0.34	0.52	0.47	0.65	0.16	0.51	0.44		XOM
	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM

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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

JPM	+ 0.96	MSFT
MSFT	+ 0.95	META
JPM	+ 0.92	META
A	+ 0.91	META
F	+ 0.91	UBER
JPM	+ 0.9	A

High negative correlations

MRK	- 0.2	CRM
MRK	- 0.2	UBER
MRK	- 0.1	MSFT
MRK	- 0.05	META
MRK	- 0.04	JPM

USCF Gold Competition 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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
META	2.03	0.35	0.10	(14.73)	2.34	(2.36)	4.23	(3.68)	21.50
MSFT	1.18	0.34	0.23	0.42	0.95	(1.36)	2.40	(2.36)	13.79
UBER	2.01	0.47	0.16	(2.69)	2.20	(2.41)	5.87	(3.48)	16.18
F	1.71	0.29	0.08	(1.18)	2.23	(1.80)	3.70	(3.74)	13.07
T	1.16	0.00	(0.02)	0.08	1.84	(1.10)	2.36	(2.62)	8.47
A	1.74	(0.01)	0.01	0.07	2.45	(1.74)	2.76	(4.15)	14.46
CRM	1.59	(0.06)	(0.02)	0.03	2.23	(1.58)	3.01	(3.64)	13.13
JPM	1.32	0.16	0.07	0.22	2.07	(1.31)	2.75	(3.09)	11.14
MRK	1.53	(0.12)	0.00	(0.09)	0.00	0.00	3.35	(4.58)	10.58
XOM	1.46	(0.09)	0.00	(0.04)	0.00	0.00	2.77	(3.04)	10.53

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