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I'm interested in the correlation (in the recent years, or even decades) between the silver (and maybe gold) prices and some stock market index. In other words, I'd like to know how strong is the correlation between the stock market (eg. some USA index) going up/down and the silver price going up/down. I'm not interested in explanations why it is (or isn't) or should be (on shouldn't be) correlated; I'm interested in historic numbers (and/or charts).

I've been trying to find this data somewhere, but with no success yet.

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For gold versus the DJIA the most interesting short analysis I've seen is located here. They do a reasonable job of highlighting some pitfalls of looking at just the basic numbers, and they also don't try to claim there's any magic - it's an intellectual exercise.

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  • Thanks, this is an interesting article. Still, I'd like to see some correlations and some data about silver.
    – mazi
    May 4, 2012 at 15:37
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    @mazi. Brief but interesting, but with a narrow time period: marketoracle.co.uk/Article17450.html You might also be interested in this (if you haven't seen it already): seekingalpha.com/instablog/422923-przemyslaw-radomski/…
    – gef05
    May 4, 2012 at 22:22
  • Interesting, but. The Dow index ignores dividends. So the index itself diverges from the total return and over a long period of time becomes pretty meaningless. The Dow return over the century was closer to 8000 fold than the 172 fold shown by the index alone. Dividends accounted for more than half the return over that century.
    – JTP - Apologise to Monica ♦
    May 4, 2012 at 23:26
  • @Joe. As I noted in my post, this is an intellectual exercise. The OP is after some numbers, and appears aware of the gaps/pitfalls/superficialties.
    – gef05
    May 5, 2012 at 0:40
  • @gef05 - when an article is citing fact, as opposed to opinion, accuracy should count. Not to the percent in this case, but at least better than 1.5 orders of magnitude. My comment was to alert any reader that when looking at index information, it's important that they look to see whether it's pure index or with dividends reinvested. The 1987 crash? After dividends, the Dow had a positive return that year.
    – JTP - Apologise to Monica ♦
    May 5, 2012 at 13:24

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