Franklin Responsibly Sourced Gold ETF (FGDL) — Stock Correlations & Overview
Over the past year, FGDL has moved most closely with OUNZ, GLD, IAU. Explore the stocks most correlated and inversely correlated with FGDL below, along with its price, financials, and company profile.
Stocks correlated with FGDL
Correlation of daily returns. Higher positive values move with FGDL; negative values move opposite it. Informational only, not investment advice.
Most correlated with FGDL
| Symbol | Company | Correlation |
|---|---|---|
| OUNZ | VanEck Merk Gold ETFCOMMODITY CONTRACTS BROKERS & DEALERS | 0.99 |
| GLD | SPDR Gold Trust, SPDR Gold SharesCOMMODITY CONTRACTS BROKERS & DEALERS | 0.99 |
| IAU | iShares Gold TrustCOMMODITY CONTRACTS BROKERS & DEALERS | 0.99 |
| SGOL | abrdn Physical Gold Shares ETFCOMMODITY CONTRACTS BROKERS & DEALERS | 0.99 |
| GLDM | SPDR Gold MiniSharesCOMMODITY CONTRACTS BROKERS & DEALERS | 0.99 |
Most inversely correlated with FGDL
| Symbol | Company | Correlation |
|---|---|---|
| GLL | ProShares UltraShort GoldCOMMODITY CONTRACTS BROKERS & DEALERS | -0.99 |
| DULL | MicroSectors Gold -3x Inverse Leveraged ETNCOMMERCIAL BANKS, NEC | -0.98 |
| DUST | Direxion Daily Gold Miners Index Bear 2X ETF | -0.84 |
| GDXD | MicroSectors Gold Miners -3x Inverse Leveraged ETNCOMMERCIAL BANKS, NEC | -0.83 |
| JDST | Direxion Daily Junior Gold Miners Index Bear 2X ETF | -0.83 |
Frequently asked questions about FGDL correlations
- Which stocks are most correlated with FGDL?
- Based on one year of daily returns, the stocks most correlated with Franklin Responsibly Sourced Gold ETF (FGDL) are OUNZ (0.99), GLD (0.99) and IAU (0.99). A correlation near 1.00 means the two stocks' daily moves have tracked each other closely over the period.
- Which stocks are inversely correlated with FGDL?
- Over the past year, the stocks most inversely correlated with Franklin Responsibly Sourced Gold ETF (FGDL) are GLL (-0.99), DULL (-0.98) and DUST (-0.84). A negative correlation means the two stocks have tended to move in opposite directions.
- What does a correlation of 0.8 mean for a stock?
- Correlation measures how closely two stocks' daily returns move together, on a scale from -1 to 1. At 0.8, the two stocks have moved in the same direction on most days — though not by identical amounts. A value near 0 means their moves have been unrelated, and a negative value means they have tended to move in opposite directions. Correlation reflects past behavior and can change over time.
- How are these FGDL correlations calculated?
- We compute the correlation of daily returns between FGDL and roughly 9,000 other US-listed stocks and ETFs over the trailing one-year window, then rank the strongest positive and negative relationships. The data is refreshed monthly. It is informational and educational only — not investment advice.
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