^GSPC vs. HG=F

Last updated Jun 13, 2026

^GSPC (S&P 500 Index) is an index, while HG=F (Copper) is an asset. At a 0.06 correlation, their price movements are largely independent.

Performance

^GSPC vs. HG=F - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in S&P 500 Index (^GSPC) and Copper (HG=F). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

^GSPC

• 1D: 0.50%
• 1M: -0.17%
• YTD: 8.56%
• 6M: 8.85%
• 1Y: 22.93%
• 3Y*: 19.37%
• 5Y*: 11.84%
• 10Y*: 13.61%

HG=F

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

^GSPC vs. HG=F - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
^GSPC S&P 500 Index	8.56%	16.39%	23.31%	24.23%	-13.37%
HG=F Copper	0.00%	0.00%	0.00%	0.00%	1.29%

Correlation

The correlation between ^GSPC and HG=F is 0.06, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jan 31, 2022	0.06

Return for Risk

^GSPC vs. HG=F — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

^GSPC

^GSPC Risk / Return Rank: 73
^GSPC Sharpe Ratio Rank: 72
^GSPC Sortino Ratio Rank: 69
^GSPC Omega Ratio Rank: 77
^GSPC Calmar Ratio Rank: 66
^GSPC Martin Ratio Rank: 82

HG=F

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

^GSPC vs. HG=F - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for S&P 500 Index (^GSPC) and Copper (HG=F). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	^GSPC	HG=F	Difference
Sharpe ratio: Return per unit of total volatility	1.86	—	—
Sortino ratio: Return per unit of downside risk	2.53	—	—
Omega ratio: Gain probability vs. loss probability	1.34	—	—
Calmar ratio: Return relative to maximum drawdown	2.53	—	—
Martin ratio: Return relative to average drawdown	11.37	—	—

Drawdowns

Drawdown Indicators

	^GSPC	HG=F	Difference
Max Drawdown Largest peak-to-trough decline	-56.78%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-9.10%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-18.90%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-25.43%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-33.92%	—	—
Current Drawdown Current decline from peak	-2.34%	—	—
Average Drawdown Average peak-to-trough decline	-10.72%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	2.02%	—	—

Volatility

Volatility by Period

	^GSPC	HG=F	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.43%	—	—
Volatility (6M) Calculated over the trailing 6-month period	9.70%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	12.38%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.97%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.09%	—	—

Frequently Asked Questions

Can I hold both ^GSPC and HG=F in my portfolio?

^GSPC and HG=F have a correlation of 0.06, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.