Project Overview

This project aims to compare the returns of the traditional investment good i.e. gold with the SP500. Against Gold.pdf (English) and Altına Karşı.pdf (Turkish) explains the details and the results of the project.

• Investment Strategy Analysis is a jupyter notebook containing the code cells of the main analysis.

• Supplemental Analyses for Main Research is another jupyter notebook containing the codes of the supplementary work.

• data.py, long_term_simulations, annual_calculations contain the functions and the cpi data that were used in main analysis.

References

Resources of data:

1. 1950 to 2018 SP500 prices: https://www.kaggle.com/datasets/benjibb/sp500-since-1950/data
2. 2018 to 2024 SP500 prices: https://www.nasdaq.com/market-activity/index/spx/historical
3. CPI values of each year: https://www.minneapolisfed.org/about-us/monetary-policy/inflation-calculator/consumer-price-index-1913-
4. SPY Fund Prices: https://finance.yahoo.com/quote/SPY/history
5. SPY Dividend Amounts: https://www.nasdaq.com/market-activity/etf/spy/dividend-history
6. Gold Prices: https://stooq.com/q/d/?s=xauusd

Other References:

Adjusting money for inflation:

• https://www.minneapolisfed.org/about-us/monetary-policy/inflation-calculator/consumer-price-index-1913-

Expense ratio & sales load:

• https://www.bankrate.com/investing/low-cost-index-funds-guide/
• https://www.bankrate.com/investing/what-is-an-expense-ratio/
• https://happay.com/blog/expense-ratio/

ETF Dividends:

• https://www.investopedia.com/articles/investing/120415/how-dividendpaying-etfs-work.asp