An overwhelming majority of headlines, even those of the geopolitical variety, have indiscernible market effects.
Yup that’s exactly it! How does it compare vs typical beta?
Median S&P 500 y/y is 9.6% since 1935. Median Gold y/y is 5.7% since 1971. Both samples have similar Sharpe ratios vs. all data. I'd say not enough proof to overturn null hypothesis of beta = 1x.
“Nothing ever happens”!
Lol, precisely
How does this compare vs typical drift?
Can you expand on this question? I'm assuming you're asking for something beyond the typical y/y S&P 500 and Gold returns?
Yup that’s exactly it! How does it compare vs typical beta?
Median S&P 500 y/y is 9.6% since 1935. Median Gold y/y is 5.7% since 1971. Both samples have similar Sharpe ratios vs. all data. I'd say not enough proof to overturn null hypothesis of beta = 1x.
“Nothing ever happens”!
Lol, precisely
How does this compare vs typical drift?
Can you expand on this question? I'm assuming you're asking for something beyond the typical y/y S&P 500 and Gold returns?