Gold is now slightly outperforming the S&P 500 Index year-to-date as of July 16th.
12-Month correlation of iShares Gold Trust (IAU) and S&P 500 is just 0.17.
A correlation coefficient of 1.00 would mean that the assets behave perfectly in unison while a value of 0.00 would mean that they behave in exact opposition.
As a result, gold investors are getting equity like returns combined with strong diversification benefits.
July 16, 2024
Gold is now slightly outperforming the S&P 500 Index year-to-date as of July 16th.
12-Month correlation of iShares Gold Trust (IAU) and S&P 500 is just 0.17.
A correlation coefficient of 1.00 would mean that the assets behave perfectly in unison while a value of 0.00 would mean that they behave in exact opposition.
As a result, gold investors are getting equity like returns combined with strong diversification benefits.