If you look at the following website:
http://www.sectorspdr.com/correlation/, you'll see that the
highest negative correlation with GDX is DGZ. It's not
perfect, but a pretty good proxy for shorting GDX.
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If you look at the
Alternate instrument for GDX short
Posted by algyros on 14th of Sep 2010 at 08:31 am
If you look at the following website: http://www.sectorspdr.com/correlation/, you'll see that the highest negative correlation with GDX is DGZ. It's not perfect, but a pretty good proxy for shorting GDX.