AU vs. ASA

Last updated Jun 13, 2026

AU (AngloGold Ashanti Limited) and ASA (ASA Gold and Precious Metals Limited) are both stocks. AU operates in Gold (Basic Materials), while ASA operates in Asset Management (Financial Services). Over the past 10 years, AU returned 20.46%/yr vs 16.16%/yr for ASA. A 0.74 correlation means they provide meaningful diversification when combined.

Performance

AU vs. ASA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in AngloGold Ashanti Limited (AU) and ASA Gold and Precious Metals Limited (ASA). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AU achieves a 4.15% return, which is significantly higher than ASA's -3.76% return. Over the past 10 years, AU has outperformed ASA with an annualized return of 20.46%, while ASA has yielded a comparatively lower 16.16% annualized return.

AU

• 1D: 3.75%
• 1M: -5.30%
• YTD: 4.15%
• 6M: 7.11%
• 1Y: 79.12%
• 3Y*: 58.20%
• 5Y*: 35.46%
• 10Y*: 20.46%

ASA

• 1D: 3.28%
• 1M: -11.35%
• YTD: -3.76%
• 6M: -0.75%
• 1Y: 67.58%
• 3Y*: 55.51%
• 5Y*: 18.92%
• 10Y*: 16.16%

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

AU vs. ASA - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
AU AngloGold Ashanti Limited	4.15%	288.18%	25.43%	-2.68%	-5.09%	-4.87%	1.90%	78.89%	23.96%	-2.23%
ASA ASA Gold and Precious Metals Limited	-3.76%	195.60%	34.55%	5.38%	-32.06%	-3.48%	60.65%	44.35%	-16.18%	2.89%

Correlation

The correlation between AU and ASA is 0.80, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.80
Correlation (3Y) Calculated over the trailing 3-year period	0.75
Correlation (5Y) Calculated over the trailing 5-year period	0.74
Correlation (10Y) Calculated over the trailing 10-year period	0.76
Correlation (All Time) Calculated using the full available price history since Aug 5, 1998	0.74

The correlation between AU and ASA has been stable across timeframes, ranging from 0.74 to 0.80 - a consistent structural relationship.

Fundamentals

Market Cap AU : $43.57B ASA : $1.08B
EPS AU : $6.85 ASA : $42.09
PE Ratio AU : 12.59 ASA : 1.36
PEG Ratio AU : 0.15 ASA : 0.00
PS Ratio AU : 3.92 ASA : 7.87
PB Ratio AU : 5.11 ASA : 0.98
Total Revenue (TTM) AU : $11.17B ASA : $137.30M
Gross Profit (TTM) AU : $5.82B ASA : $3.98M
EBITDA (TTM) AU : $5.58B ASA : $444.29M

Return for Risk

AU vs. ASA — Risk / Return Rank

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

AU

AU Risk / Return Rank: 79
AU Sharpe Ratio Rank: 83
AU Sortino Ratio Rank: 77
AU Omega Ratio Rank: 77
AU Calmar Ratio Rank: 80
AU Martin Ratio Rank: 81

ASA

ASA Risk / Return Rank: 78
ASA Sharpe Ratio Rank: 83
ASA Sortino Ratio Rank: 75
ASA Omega Ratio Rank: 76
ASA Calmar Ratio Rank: 77
ASA Martin Ratio Rank: 79

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.

AU vs. ASA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for AngloGold Ashanti Limited (AU) and ASA Gold and Precious Metals Limited (ASA). 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.

	AU	ASA	Difference
Sharpe ratio: Return per unit of total volatility	1.50	1.48	+0.02
Sortino ratio: Return per unit of downside risk	1.95	1.88	+0.07
Omega ratio: Gain probability vs. loss probability	1.26	1.25	+0.01
Calmar ratio: Return relative to maximum drawdown	2.35	2.04	+0.31
Martin ratio: Return relative to average drawdown	6.18	5.57	+0.61

AU vs. ASA - Sharpe Ratio Comparison

The current AU Sharpe Ratio is 1.50, which is comparable to the ASA Sharpe Ratio of 1.48. The chart below compares the historical Sharpe Ratios of AU and ASA, 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

AU vs. ASA - Drawdown Comparison

The maximum AU drawdown since its inception was -90.12%, which is greater than ASA's maximum drawdown of -80.36%. Use the drawdown chart below to compare losses from any high point for AU and ASA.

Drawdown Indicators

	AU	ASA	Difference
Max Drawdown Largest peak-to-trough decline	-90.12%	-80.36%	-9.76%
Max Drawdown (1Y) Largest decline over 1 year	-37.03%	-35.50%	-1.53%
Max Drawdown (3Y) Largest decline over 3 years	-37.70%	-35.50%	-2.20%
Max Drawdown (5Y) Largest decline over 5 years	-51.75%	-48.93%	-2.82%
Max Drawdown (10Y) Largest decline over 10 years	-67.91%	-51.66%	-16.25%
Current Drawdown Current decline from peak	-30.75%	-29.36%	-1.39%
Average Drawdown Average peak-to-trough decline	-46.07%	-42.53%	-3.54%
Ulcer Index Depth and duration of drawdowns from previous peaks	14.04%	12.97%	+1.07%

Volatility

AU vs. ASA - Volatility Comparison

AngloGold Ashanti Limited (AU) has a higher volatility of 21.02% compared to ASA Gold and Precious Metals Limited (ASA) at 18.26%. This indicates that AU's price experiences larger fluctuations and is considered to be riskier than ASA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AU	ASA	Difference
Volatility (1M) Calculated over the trailing 1-month period	21.02%	18.26%	+2.76%
Volatility (6M) Calculated over the trailing 6-month period	46.50%	40.96%	+5.54%
Volatility (1Y) Calculated over the trailing 1-year period	58.45%	49.02%	+9.43%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	49.13%	35.54%	+13.59%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	49.79%	35.56%	+14.23%

Dividends

AU vs. ASA - Dividend Comparison

AU's dividend yield for the trailing twelve months is around 5.33%, more than ASA's 0.12% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ASA ASA Gold and Precious Metals Limited	0.12%	0.10%	0.20%	0.13%	0.14%	0.09%	0.09%	0.15%	0.32%	0.35%	0.36%	0.56%
AU AngloGold Ashanti Limited	5.33%	2.96%	1.78%	1.14%	2.26%	2.58%	0.49%	0.30%	0.48%	0.93%	0.00%	0.00%

Financials

Frequently Asked Questions

Can I hold both AU and ASA in my portfolio?

AU and ASA have a correlation of 0.80, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, AU or ASA?

AU has higher volatility (21.02%) compared to ASA (18.26%). In terms of maximum drawdown, AU dropped -90.12% vs ASA's -80.36%.

Which has better risk-adjusted returns?

AU currently has the higher Sharpe Ratio (1.50 vs 1.48), 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.