USCF Gold Correlations

GLDX Etf

USD 35.07 0.11 0.31%

The current 90-days correlation between USCF Gold Strategy and iShares MSCI Global is 0.78 (i.e., Poor diversification). 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

Significant diversification

The correlation between USCF Gold Strategy and DJI is 0.05 (i.e., Significant 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	GLD	SPDR Gold Shares	Pair Corr
0.79	IAU	iShares Gold Trust	Pair Corr
0.68	SLV	iShares Silver Trust Aggressive Push	Pair Corr
0.79	GLDM	SPDR Gold Mini	Pair Corr
0.79	SGOL	abrdn Physical Gold	Pair Corr
0.79	GLTR	abrdn Physical Precious	Pair Corr
0.68	SIVR	abrdn Physical Silver	Pair Corr
0.79	IAUM	iShares Gold Trust	Pair Corr
0.64	BBCA	JPMorgan BetaBuilders	Pair Corr

Moving against USCF Etf

0.55	FNGD	MicroSectors FANG Index	Pair Corr
0.44	HUM	Humana Inc	Pair Corr

Related Correlations Analysis

	RING	SIL	GDXJ	SGDM	GXG
RING		0.88	0.89	0.91	0.63	RING
SIL	0.88		0.95	0.94	0.79	SIL
GDXJ	0.89	0.95		0.98	0.68	GDXJ
SGDM	0.91	0.94	0.98		0.67	SGDM
GXG	0.63	0.79	0.68	0.67		GXG
	RING	SIL	GDXJ	SGDM	GXG

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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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
RING	2.06	0.23	0.00	73.62	2.77	(2.12)	4.53	(3.93)	16.31
SIL	1.75	0.51	0.14	3.27	1.86	(1.98)	4.63	(3.12)	15.44
GDXJ	2.10	0.43	0.08	6.03	2.33	(2.31)	5.13	(3.81)	18.59
SGDM	1.86	0.43	0.07	(4.16)	2.18	(1.99)	4.97	(3.65)	15.60
GXG	1.13	0.13	(0.07)	(1.00)	1.74	(1.11)	2.27	(2.81)	11.29

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