Stocks, Bonds, Gold & Crypto Market Update 8/25/2025: Where Is The Capital Flowing & Why It Matters?
Here is a quick snapshot of how different asset classes moved yesterday, last week, and the last month.
- Equity dropped -0.4% yesterday, versus -0.1% weekly and 0.8% monthly changes
- Bonds fell -0.2% yesterday, after rising 0.4% weekly and 0.8% monthly
- Gold declined -0.2% in the last session, with weekly and monthly gains of 0.9% and 0.8%
- Commodities gained 0.5% yesterday, also showing positive returns over the week and month
- Real Estate decreased -0.6% yesterday, adding to a 3.1% weekly rise and a -0.09% monthly change
- Gold dropped -2.9% yesterday, extending losses over both the week and month
| ETF | 1D | 1W | 1M | |
|---|---|---|---|---|
| Equity | SPY | -0.4% | -0.1% | 0.8% |
| Bonds | AGG | -0.2% | 0.4% | 0.8% |
| Gold | GLD | -0.2% | 0.9% | 0.8% |
| Commodities | DBC | 0.5% | 1.8% | 0.1% |
| Real Estate | VNQ | -0.6% | 3.1% | -0.1% |
| Bitcoin | BTCUSD | -2.9% | -2.4% | -3.6% |
Why does it matter?
- See where capital is flowing: Asset class performance reveals investor sentiment, from risk-on rallies to flight-to-safety moves.
- Track shifts in correlation: Rising correlations reduce diversification benefits and increase portfolio risk during stress.
- Spot early signs of rotation: Leadership changing across stocks, bonds, or commodities often precedes macro regime shifts.
We take a macro-conscious approach to strategic asset allocation, even within equities – adjusting exposure across sectors and styles in High Quality Portfolio
Capital Flow Patterns Have Governed Historical Risk-Return Profile
| ETF | Return | Volatility | Sharpe | |
|---|---|---|---|---|
| Equity | SPY | 13.7% | 15.8% | 68.7% |
| Bonds | AGG | 1.7% | 5.1% | -15.3% |
| Gold | GLD | 11.2% | 13.9% | 65.7% |
| Commodities | DBC | 4.7% | 16.2% | 22.0% |
| Real Estate | VNQ | 5.4% | 18.4% | 19.1% |
| Bitcoin | BTCUSD | 83.8% | 76.5% | 110.5% |
Figures are on annualized basis, based on monthly return data for last 10 years
How Stable Is Correlation Between Different Asset Classes?
| Equity | Bonds | Gold | Commodities | Real Estate | Bitcoin | |
|---|---|---|---|---|---|---|
| Equity | – | 10% | 19% | 9.5% | 4.6% | 14% | 4.3% | 35% | 25% | 29% | 73% | 70% | 62% | 24% | 37% | 40% |
| Bonds | 10% | 19% | 9.5% | – | 35% | 35% | 17% | -0.3% | -2.3% | -5.9% | 27% | 36% | 43% | 11% | 7.4% | -2.6% |
| Gold | 4.6% | 14% | 4.3% | 35% | 35% | 17% | – | 26% | 33% | 38% | 13% | 20% | 17% | 10% | 9.4% | 5.5% |
| Commodities | 35% | 25% | 29% | -0.3% | -2.3% | -5.9% | 26% | 33% | 38% | – | 24% | 17% | 16% | 9.9% | 12% | 11% |
| Real Estate | 73% | 70% | 62% | 27% | 36% | 43% | 13% | 20% | 17% | 24% | 17% | 16% | – | 17% | 25% | 21% |
| Bitcoin | 24% | 37% | 40% | 11% | 7.4% | -2.6% | 10% | 9.4% | 5.5% | 9.9% | 12% | 11% | 17% | 25% | 21% | – |
The figures above are correlations for last 10Y, 5Y and 1Y, in same order
Which Assets Have Seen Most Money Rotation During Market Crashes?
| ETF | Inflation Shock | Covid Pandemic | 2018 Correction | |
|---|---|---|---|---|
| Equity | SPY | -23.0% | -30.4% | -19.3% |
| Bonds | AGG | -14.1% | -2.1% | 1.4% |
| Gold | GLD | -7.7% | -6.3% | 5.0% |
| Commodities | DBC | 20.5% | -23.7% | -16.5% |
| Real Estate | VNQ | -29.8% | -41.6% | -11.1% |
| Bitcoin | BTCUSD | -56.0% | -33.5% | -37.4% |
The table shows return of different asset classes during market crises – specifically during the period where S&P fell and bottomed
The Trefis High Quality (HQ) Portfolio, with a collection of 30 stocks, has a track record of comfortably outperforming its benchmark that includes all 3 – S&P 500, Russell, and S&P midcap. Why is that? As a group, HQ Portfolio stocks provided better returns with less risk versus the benchmark index; less of a roller-coaster ride, as evident in HQ Portfolio performance metrics.