^TYX vs. GC=F

Last updated Jun 5, 2026

^TYX (Treasury Yield 30 Years) is an index, while GC=F (Gold Futures) is an asset. Over the past 10 years, ^TYX returned 6.94%/yr vs 13.72%/yr for GC=F. At a correlation of -0.15, they often move in opposite directions.

Performance

^TYX vs. GC=F - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Treasury Yield 30 Years (^TYX) and Gold Futures (GC=F). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ^TYX achieves a 2.85% return, which is significantly lower than GC=F's 4.09% return. Over the past 10 years, ^TYX has underperformed GC=F with an annualized return of 6.94%, while GC=F has yielded a comparatively higher 13.72% annualized return.

^TYX

• 1D: -0.24%
• 1M: 0.71%
• YTD: 2.85%
• 6M: 3.88%
• 1Y: 1.92%
• 3Y*: 8.57%
• 5Y*: 17.33%
• 10Y*: 6.94%

GC=F

• 1D: 1.48%
• 1M: -3.83%
• YTD: 4.09%
• 6M: 6.87%
• 1Y: 34.37%
• 3Y*: 31.99%
• 5Y*: 18.96%
• 10Y*: 13.72%

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

^TYX vs. GC=F - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
^TYX Treasury Yield 30 Years	2.85%	1.13%	19.08%	1.11%	108.66%	15.74%	-31.10%	-20.89%	10.26%	-10.58%
GC=F Gold Futures	4.09%	64.52%	27.48%	13.34%	-0.43%	-3.47%	24.59%	18.87%	-2.14%	13.59%

Correlation

The correlation between ^TYX and GC=F is -0.16, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.16
Correlation (3Y) Calculated over the trailing 3-year period	-0.17
Correlation (5Y) Calculated over the trailing 5-year period	-0.20
Correlation (10Y) Calculated over the trailing 10-year period	-0.26
Correlation (All Time) Calculated using the full available price history since Aug 30, 2000	-0.15

The correlation between ^TYX and GC=F shifts across timeframes, from -0.26 (10 years) to -0.15 (all time), reflecting how their relationship changes across market environments.

Return for Risk

^TYX vs. GC=F — Risk / Return Rank

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

^TYX

^TYX Risk / Return Rank: 18
^TYX Sharpe Ratio Rank: 19
^TYX Sortino Ratio Rank: 17
^TYX Omega Ratio Rank: 17
^TYX Calmar Ratio Rank: 19
^TYX Martin Ratio Rank: 19

GC=F

GC=F Risk / Return Rank: 54
GC=F Sharpe Ratio Rank: 53
GC=F Sortino Ratio Rank: 52
GC=F Omega Ratio Rank: 54
GC=F Calmar Ratio Rank: 45
GC=F Martin Ratio Rank: 64

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.

^TYX vs. GC=F - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Treasury Yield 30 Years (^TYX) and Gold Futures (GC=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.

	^TYX	GC=F	Difference
Sharpe ratio: Return per unit of total volatility	0.15	1.22	-1.07
Sortino ratio: Return per unit of downside risk	0.30	1.61	-1.31
Omega ratio: Gain probability vs. loss probability	1.03	1.25	-0.21
Calmar ratio: Return relative to maximum drawdown	0.19	1.83	-1.64
Martin ratio: Return relative to average drawdown	0.41	4.59	-4.19
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

^TYX vs. GC=F - Sharpe Ratio Comparison

The current ^TYX Sharpe Ratio is 0.15, which is lower than the GC=F Sharpe Ratio of 1.22. The chart below compares the historical Sharpe Ratios of ^TYX and GC=F, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	^TYX	GC=F	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.15	1.22	-1.07
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.67	1.04	-0.36
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.20	0.83	-0.63
Sharpe Ratio (All Time) Calculated using the full available price history	-0.02	0.62	-0.65

Drawdowns

^TYX vs. GC=F - Drawdown Comparison

The maximum ^TYX drawdown since its inception was -88.52%, which is greater than GC=F's maximum drawdown of -44.36%. Use the drawdown chart below to compare losses from any high point for ^TYX and GC=F.

Drawdown Indicators

	^TYX	GC=F	Difference
Max Drawdown Largest peak-to-trough decline	-88.52%	-44.36%	-44.16%
Max Drawdown (1Y) Largest decline over 1 year	-9.55%	-17.73%	+8.18%
Max Drawdown (3Y) Largest decline over 3 years	-22.85%	-17.73%	-5.12%
Max Drawdown (5Y) Largest decline over 5 years	-25.46%	-20.43%	-5.03%
Max Drawdown (10Y) Largest decline over 10 years	-72.86%	-20.87%	-51.99%
Current Drawdown Current decline from peak	-38.99%	-15.34%	-23.65%
Average Drawdown Average peak-to-trough decline	-45.96%	-13.03%	-32.93%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.45%	7.13%	-2.68%

Volatility

^TYX vs. GC=F - Volatility Comparison

The current volatility for Treasury Yield 30 Years (^TYX) is 3.58%, while Gold Futures (GC=F) has a volatility of 4.73%. This indicates that ^TYX experiences smaller price fluctuations and is considered to be less risky than GC=F based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	^TYX	GC=F	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.58%	4.73%	-1.15%
Volatility (6M) Calculated over the trailing 6-month period	7.99%	23.11%	-15.12%
Volatility (1Y) Calculated over the trailing 1-year period	12.15%	26.50%	-14.35%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	25.06%	18.20%	+6.86%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	33.11%	16.44%	+16.67%

Frequently Asked Questions

Can I hold both ^TYX and GC=F in my portfolio?

^TYX and GC=F have a correlation of -0.16, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ^TYX or GC=F?

GC=F has higher volatility (4.73%) compared to ^TYX (3.58%). In terms of maximum drawdown, ^TYX dropped -88.52% vs GC=F's -44.36%.

Which has better risk-adjusted returns?

GC=F currently has the higher Sharpe Ratio (1.22 vs 0.15), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.