1/ An open question for @HedgeyeDDale and @KeithMcCullough. We back-tested #gold and real yields for different time periods in regression analyses as illustrated below for first bull market post 1975.
2/ What was interesting is that R2 improves markedly over the past two decades (below regression with TIPS since 2000)...
3/ ...and recently even explains 95% of #gold price since 2018! My theory is that ...
4/ ...the changing investment landscape matters more (50% algo in 2019 versus 11% in 1998) what ETFs buy and hence the improved back-test since 2000...!
5/ any thoughts are most welcome (as I seem not to be able to DM you). Cheers and keep the great @Hedgeye work going!
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