^TYX vs. GC=F

Last updated Aug 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 8.43%/yr vs 11.96%/yr for GC=F. Their -0.15 correlation means they have often moved in opposite directions in the past.

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 7.23% return, which is significantly higher than GC=F's -4.37% return. Over the past 10 years, ^TYX has underperformed GC=F with an annualized return of 8.43%, while GC=F has yielded a comparatively higher 11.96% annualized return.

^TYX

• 1D: -0.78%
• 1M: 4.11%
• 6M: 5.79%
• YTD: 7.23%
• 1Y: 8.19%
• 3Y*: 7.19%
• 5Y*: 22.74%
• 10Y*: 8.43%
• ALL TIME*: -0.79%

GC=F

• 1D: 2.55%
• 1M: 0.58%
• 6M: -15.64%
• YTD: -4.37%
• 1Y: 22.59%
• 3Y*: 28.72%
• 5Y*: 18.04%
• 10Y*: 11.96%
• ALL TIME*: 11.04%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
^TYX Treasury Yield 30 Years	$0.00	$0.00	$0.00
GC=F Gold Futures	$47.40M	$22.54M	$17.66M

^TYX vs. GC=F - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
^TYX Treasury Yield 30 Years	7.23%	1.13%	19.08%	1.11%	108.66%	15.74%	-31.10%	-20.89%	10.26%	-10.58%
GC=F Gold Futures	-4.37%	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 -0.09, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	-0.09
Correlation (3Y) Balances recent behavior with more history.	-0.13
Correlation (5Y) Shows whether the relationship held over a longer period.	-0.20
Correlation (10Y) Provides a long-term view across more market conditions.	-0.25
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 -0.25 (10 years) to -0.09 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

^TYX vs. GC=F — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

^TYX

^TYX Risk / Return Rank: 21
^TYX Sharpe Ratio Rank: 22
^TYX Sortino Ratio Rank: 19
^TYX Omega Ratio Rank: 19
^TYX Calmar Ratio Rank: 22
^TYX Martin Ratio Rank: 21

GC=F

GC=F Risk / Return Rank: 0
GC=F Sharpe Ratio Rank: 0
GC=F Sortino Ratio Rank: 0
GC=F Omega Ratio Rank: 0
GC=F Calmar Ratio Rank: 0
GC=F Martin Ratio Rank: 0

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

^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.

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.

	^TYX	GC=F	Difference
Sharpe ratio: Return per unit of total volatility	0.71	0.80	-0.10
Sortino ratio: Return per unit of downside risk	1.07	1.15	-0.08
Omega ratio: Gain probability vs. loss probability	1.12	1.17	-0.04
Calmar ratio: Return relative to maximum drawdown	0.95	0.91	+0.04
Martin ratio: Return relative to average drawdown	2.11	1.97	+0.14

^TYX vs. GC=F - Sharpe Ratio Comparison

The current ^TYX Sharpe Ratio is 0.71, which is comparable to the GC=F Sharpe Ratio of 0.80. 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.

Drawdowns

^TYX vs. GC=F - Drawdown Comparison

The maximum ^TYX drawdown since its inception was -93.84%, 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	-93.84%	-44.36%	-49.48%
Max Drawdown (1Y) Largest decline over 1 year	-8.69%	-25.06%	+16.37%
Max Drawdown (3Y) Largest decline over 3 years	-22.85%	-25.06%	+2.21%
Max Drawdown (5Y) Largest decline over 5 years	-22.85%	-25.06%	+2.21%
Max Drawdown (10Y) Largest decline over 10 years	-72.86%	-25.06%	-47.80%
Current Drawdown Current decline from peak	-65.88%	-22.22%	-43.66%
Average Drawdown Average peak-to-trough decline	-56.74%	-13.58%	-43.16%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.89%	11.51%	-7.62%

Volatility

^TYX vs. GC=F - Volatility Comparison

The current volatility for Treasury Yield 30 Years (^TYX) is 3.12%, while Gold Futures (GC=F) has a volatility of 6.61%. 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	3.12%	6.61%	-3.49%
Volatility (6M) Calculated over the trailing 6-month period	8.27%	20.25%	-11.98%
Volatility (1Y) Calculated over the trailing 1-year period	11.63%	28.24%	-16.61%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.58%	18.70%	+5.88%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	33.33%	16.68%	+16.65%

Frequently Asked Questions

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

^TYX and GC=F have a correlation of -0.09, 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 (6.61%) compared to ^TYX (3.12%). In terms of maximum drawdown, ^TYX dropped -93.84% vs GC=F's -44.36%.

Which has better risk-adjusted returns?

GC=F currently has the higher Sharpe Ratio (0.80 vs 0.71), 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.