Market Research Data

GLD Correlation & Overlap

Fund Strategy Analysis

SPDR Gold Shares (GLD) is a key instrument in the Commodities category. GLD offers targeted access to the Commodities market. To capture tax benefits without exiting this position entirely, market participants often evaluate pairs with high correlation but distinct underlying indices.

Note: This page summarizes historical similarity metrics and does not assess tax treatment or regulatory outcomes.

Top Correlated ETFs

Commodities
IAU
CORR ≥ 0.99*
>0.99
Correlation
IAU and GLD share a specific relationship in their market behavior. The key distinction for tax purposes often lies in their divergent index methodologies despite high correlation.
Overlap: ~100%
Yahoo Finance ↗IAU Data Coming Soon
GLDM
CORR ≥ 0.99*
>0.99
Correlation
A holdings overlap of roughly 100% suggests that GLDM and GLD maintain aligned market exposure. This metric is frequently used to assess the potential for maintaining economic position while realizing a tax loss.
Overlap: ~100%
Yahoo Finance ↗GLDM Data Coming Soon
SGOL
CORR ≥ 0.99*
>0.99
Correlation
SGOL shows a high degree of historical similarity with GLD. With an estimated overlap of 100%, this pair is often analyzed in discussions regarding "substantially identical" securities.
Overlap: ~100%
Yahoo Finance ↗SGOL Data Coming Soon

Note on Overlap: Estimates are based on the most recent publicly disclosed holdings. Leveraged/Inverse products often use swaps resulting in low physical overlap despite high correlation.

Benchmark Similarity: ETFs tracking similar broad-market or sector-specific benchmarks often exhibit extremely high correlation. Investors typically review additional factors such as index methodology when evaluating similarity.

* Correlation calculated using 2-year daily price returns.

Wash Sale Re-Entry Date (Reference Tool)

If you sold GLD at a loss, U.S. wash sale rules generally restrict repurchasing the same or a substantially identical security within 30 days.

*For informational purposes only. Consult a tax professional regarding IRC §1091. This tool calculates the 31st day following a sale.

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What is Correlation?

Correlation measures the historical relationship between two assets. A value of 1.00 (100%) means they move perfectly in sync. For tax loss harvesting, high correlation is generally desired to stay in the market while realizing a loss.

Index Methodology

Under the wash sale rule, "substantially identical" assets are disallowed for loss claims. Many investors argue that ETFs tracking different indices (e.g., S&P 500 vs. Russell 1000) are not substantially identical.

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