SLV vs EEM
- 4 of 19 forces clearly differ
- Data through Oct 30, 2026
- Market move removed first
SLV and EEM clearly differ on 4 of 19 forces. The widest gap is gold: in weeks when the price of gold rose 5%, SLV typically moved +7.8% and EEM +0.50%.
| Economic force | SLViShares Silver Trust | EEMiShares MSCI Emerging Markets ETF |
|---|---|---|
| Interest ratesIn weeks when the 10-year Treasury yield rose 0.25 percentage points | +0.48%−0.73% to +1.7%Not distinguishable from zero | +0.38%−0.62% to +1.4%Not distinguishable from zero |
| Inflation expectationsIn weeks when 10-year inflation expectations rose 0.25 percentage points | −1.4%−4.9% to +2.1%Not distinguishable from zero | −0.74%−2.5% to +1.0%Not distinguishable from zero |
| U.S. dollarIn weeks when the trade-weighted U.S. dollar rose 2% | −5.2%−7.3% to −3.1%Clear | −3.0%−3.8% to −2.2%Clear |
| Oil and energyIn weeks when the price of oil rose 10% | +0.06%−0.93% to +1.0%Not distinguishable from zero | −0.54%−0.92% to −0.16%Tentative |
| Credit spreadsIn weeks when corporate credit spreads widened 0.25 percentage points | −1.6%−6.2% to +2.9%Not distinguishable from zero | −0.31%−1.6% to +1.0%Not distinguishable from zero |
| Short-term ratesIn weeks when the 2-year Treasury yield rose 0.25 percentage points | +0.01%−2.8% to +2.8%Not distinguishable from zero | +1.0%+0.05% to +1.9%Tentative |
| Market volatilityIn weeks when market volatility (the VIX) rose 5 points | −0.62%−2.1% to +0.87%Not distinguishable from zero | −0.66%−1.2% to −0.17%Tentative |
| Mortgage ratesIn weeks when the 30-year mortgage rate rose 0.25 percentage points | +0.52%−1.1% to +2.1%Not distinguishable from zero | +0.36%−0.15% to +0.87%Not distinguishable from zero |
| GoldIn weeks when the price of gold rose 5%Clear difference | +7.8%+6.7% to +9.0%Clear | +0.50%+0.13% to +0.86%Tentative |
| CopperIn weeks when the price of copper rose 5%Clear difference | +3.4%+1.7% to +5.1%Clear | +0.61%+0.20% to +1.0%Tentative |
| Natural gasIn weeks when the U.S. natural gas price (Henry Hub) rose 10%Clear difference | +0.12%+0.05% to +0.18%Tentative | +0.01%−0.01% to +0.02%Not distinguishable from zero |
| BitcoinIn weeks when the price of bitcoin rose 10% | +0.40%−0.74% to +1.5%Not distinguishable from zero | +0.09%−0.24% to +0.41%Not distinguishable from zero |
| Small vs large companiesIn weeks when small companies beat large ones by 1 percentage point | +0.03%−0.47% to +0.53%Not distinguishable from zero | +0.14%0.00% to +0.28%Not distinguishable from zero |
| Value vs growthIn weeks when value stocks beat growth stocks by 1 percentage point | −0.10%−0.50% to +0.30%Not distinguishable from zero | −0.04%−0.20% to +0.11%Not distinguishable from zero |
| MomentumIn weeks when recent winners beat the stock market by 1 percentage point | +0.02%−0.34% to +0.37%Not distinguishable from zero | +0.42%+0.22% to +0.62%Clear |
| EuroIn weeks when the euro rose 2% against the U.S. dollar | −2.2%−4.7% to +0.37%Not distinguishable from zero | −1.9%−3.0% to −0.73%Tentative |
| Japanese yenIn weeks when the yen rose 2% against the U.S. dollarClear difference | −2.2%−3.5% to −0.81%Tentative | −0.32%−0.78% to +0.14%Not distinguishable from zero |
| Emerging marketsIn weeks when emerging-market stocks beat the S&P 500 by 1 percentage point | +0.69%+0.33% to +1.0%Clear | +1.0%+1.0% to +1.0%Clear |
| ChinaIn weeks when Chinese stocks beat other emerging markets by 1 percentage point | −0.19%−0.40% to +0.03%Not distinguishable from zero | −0.03%−0.24% to +0.18%Not distinguishable from zero |
Each figure is the stock's typical move in a week when the force moved by the stated amount, after accounting for the stock market, with its 90% range beneath. Grey figures could not be told apart from zero. A row is marked a clear difference only when the two 90% ranges do not overlap.
This describes the past, and it is not a forecast. Relationships change, and nothing here is a recommendation to buy, sell or hold any security.