AMAT vs. GLD

Last updated Jun 13, 2026

AMAT (Applied Materials, Inc.) is a stock, while GLD (SPDR Gold Shares) is Gold fund tracking the LBMA Gold Price PM. Over the past 10 years, AMAT returned 38.86%/yr vs 12.15%/yr for GLD. At a 0.04 correlation, their price movements are largely independent.

Performance

AMAT vs. GLD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Applied Materials, Inc. (AMAT) and SPDR Gold Shares (GLD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AMAT achieves a 121.28% return, which is significantly higher than GLD's -2.47% return. Over the past 10 years, AMAT has outperformed GLD with an annualized return of 38.86%, while GLD has yielded a comparatively lower 12.15% annualized return.

AMAT

• 1D: 2.64%
• 1M: 30.08%
• YTD: 121.28%
• 6M: 119.38%
• 1Y: 234.96%
• 3Y*: 60.05%
• 5Y*: 34.02%
• 10Y*: 38.86%

GLD

• 1D: 0.06%
• 1M: -7.37%
• YTD: -2.47%
• 6M: -2.25%
• 1Y: 22.21%
• 3Y*: 28.89%
• 5Y*: 17.08%
• 10Y*: 12.15%

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

AMAT vs. GLD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
AMAT Applied Materials, Inc.	121.28%	59.60%	1.13%	67.97%	-37.54%	83.64%	43.29%	89.86%	-34.92%	59.86%
GLD SPDR Gold Shares	-2.47%	63.68%	26.66%	12.69%	-0.77%	-4.15%	24.81%	17.86%	-1.94%	12.81%

Correlation

The correlation between AMAT and GLD is 0.19, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.19
Correlation (3Y) Calculated over the trailing 3-year period	0.12
Correlation (5Y) Calculated over the trailing 5-year period	0.11
Correlation (10Y) Calculated over the trailing 10-year period	0.05
Correlation (All Time) Calculated using the full available price history since Nov 18, 2004	0.04

The correlation between AMAT and GLD shifts across timeframes, from 0.04 (all time) to 0.19 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

AMAT vs. GLD — Risk / Return Rank

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

AMAT

AMAT Risk / Return Rank: 97
AMAT Sharpe Ratio Rank: 99
AMAT Sortino Ratio Rank: 96
AMAT Omega Ratio Rank: 96
AMAT Calmar Ratio Rank: 98
AMAT Martin Ratio Rank: 98

GLD

GLD Risk / Return Rank: 26
GLD Sharpe Ratio Rank: 27
GLD Sortino Ratio Rank: 25
GLD Omega Ratio Rank: 30
GLD Calmar Ratio Rank: 24
GLD Martin Ratio Rank: 24

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.

AMAT vs. GLD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Applied Materials, Inc. (AMAT) and SPDR Gold Shares (GLD). 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.

	AMAT	GLD	Difference
Sharpe ratio: Return per unit of total volatility	4.65	0.87	+3.78
Sortino ratio: Return per unit of downside risk	4.13	1.24	+2.89
Omega ratio: Gain probability vs. loss probability	1.59	1.18	+0.41
Calmar ratio: Return relative to maximum drawdown	10.67	0.98	+9.69
Martin ratio: Return relative to average drawdown	30.41	2.81	+27.60

AMAT vs. GLD - Sharpe Ratio Comparison

The current AMAT Sharpe Ratio is 4.65, which is higher than the GLD Sharpe Ratio of 0.87. The chart below compares the historical Sharpe Ratios of AMAT and GLD, 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

AMAT vs. GLD - Drawdown Comparison

The maximum AMAT drawdown since its inception was -85.22%, which is greater than GLD's maximum drawdown of -45.56%. Use the drawdown chart below to compare losses from any high point for AMAT and GLD.

Drawdown Indicators

	AMAT	GLD	Difference
Max Drawdown Largest peak-to-trough decline	-85.22%	-45.56%	-39.66%
Max Drawdown (1Y) Largest decline over 1 year	-21.37%	-24.46%	+3.09%
Max Drawdown (3Y) Largest decline over 3 years	-49.88%	-24.46%	-25.42%
Max Drawdown (5Y) Largest decline over 5 years	-55.14%	-24.46%	-30.68%
Max Drawdown (10Y) Largest decline over 10 years	-55.14%	-24.46%	-30.68%
Current Drawdown Current decline from peak	0.00%	-22.05%	+22.05%
Average Drawdown Average peak-to-trough decline	-38.78%	-16.16%	-22.62%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.49%	8.49%	-1.00%

Volatility

AMAT vs. GLD - Volatility Comparison

Applied Materials, Inc. (AMAT) has a higher volatility of 20.52% compared to SPDR Gold Shares (GLD) at 7.79%. This indicates that AMAT's price experiences larger fluctuations and is considered to be riskier than GLD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AMAT	GLD	Difference
Volatility (1M) Calculated over the trailing 1-month period	20.52%	7.79%	+12.73%
Volatility (6M) Calculated over the trailing 6-month period	38.83%	24.10%	+14.73%
Volatility (1Y) Calculated over the trailing 1-year period	49.03%	27.37%	+21.66%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	44.20%	18.22%	+25.98%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	42.94%	16.08%	+26.86%

Dividends

AMAT vs. GLD - Dividend Comparison

AMAT's dividend yield for the trailing twelve months is around 0.34%, while GLD has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AMAT Applied Materials, Inc.	0.34%	0.69%	0.93%	0.75%	1.05%	0.60%	1.01%	1.36%	2.14%	0.78%	1.24%	2.14%
GLD SPDR Gold Shares	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both AMAT and GLD in my portfolio?

AMAT and GLD have a correlation of 0.19, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, AMAT or GLD?

AMAT has higher volatility (20.52%) compared to GLD (7.79%). In terms of maximum drawdown, AMAT dropped -85.22% vs GLD's -45.56%.

Which has better risk-adjusted returns?

AMAT currently has the higher Sharpe Ratio (4.65 vs 0.87), 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.