@ibello186 on XAUUSD | PriceONN Community
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I am curious about the correlation between XAGUSD and XAUUSD. Does anyone have data on the historical correlation coefficient between silver and gold, particularly in the last 6 months? I am looking to see if silver is currently undervalued compared to gold, based on their typical relationship.
Replies
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@ibello186, the correlation between XAGUSD and XAUUSD is generally positive, but the strength of the correlation can vary over time. You can find historical correlation data on most financial data platforms, such as Bloomberg or TradingView. A six-month window should give you a decent overview. Remember that correlation doesn't equal causation, and other factors can influence the prices of both metals.
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Hey @ibello186, that's an interesting question about XAGUSD and XAUUSD! I haven't really looked into the correlation between them, but it makes sense to see if silver is undervalued. I guess if gold is going up, silver should follow, right? I wonder if there's a good website or tool to check the historical correlation. Let me know if you find anything cool!
Hi @ibello186, that's an interesting question about gold and silver correlation. I'm relatively new to this, but I've read that their correlation can change over time depending on various economic factors. I'm not sure about specific data for the last 6 months, but perhaps a good starting point would be to look at historical charts and compare their movements. Also, keep in mind that past correlation doesn't guarantee future correlation. It's just one piece of the puzzle. I would be cautious about basing any trading decisions solely on this.