BGL.AX vs. APLD

Last updated Jun 4, 2026

BGL.AX (Bellevue Gold Limited) and APLD (Applied Digital Corporation) are both stocks. BGL.AX operates in Gold (Basic Materials), while APLD operates in Capital Markets (Financial Services). Over the past 10 years, BGL.AX returned 58.76%/yr vs 90.87%/yr for APLD. At a 0.01 correlation, their price movements are largely independent.

Performance

BGL.AX vs. APLD - Performance Comparison

The chart below illustrates the hypothetical performance of a A$10,000 investment in Bellevue Gold Limited (BGL.AX) and Applied Digital Corporation (APLD). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

BGL.AX is traded in AUD, while APLD is traded in USD. To make them comparable, the APLD values have been converted to AUD using the latest available exchange rates.

Returns By Period

In the year-to-date period, BGL.AX achieves a -11.44% return, which is significantly lower than APLD's 70.68% return. Over the past 10 years, BGL.AX has underperformed APLD with an annualized return of 58.76%, while APLD has yielded a comparatively higher 90.87% annualized return.

BGL.AX

• 1D: -1.63%
• 1M: -2.58%
• YTD: -11.44%
• 6M: 5.96%
• 1Y: 58.12%
• 3Y*: 3.68%
• 5Y*: 13.69%
• 10Y*: 58.76%

APLD

• 1D: -6.15%
• 1M: 26.16%
• YTD: 70.68%
• 6M: 41.01%
• 1Y: 295.60%
• 3Y*: 64.89%
• 5Y*: 57.32%
• 10Y*: 90.87%

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

BGL.AX vs. APLD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
BGL.AX Bellevue Gold Limited	-11.44%	51.56%	-32.84%	48.23%	33.73%	-24.55%	109.35%	30.49%	54.72%	1,104.55%
APLD Applied Digital Corporation	70.68%	197.64%	24.76%	266.58%	-92.20%	12,487.01%	341.87%	-33.56%	82.68%	-38.41%

Correlation

The correlation between BGL.AX and APLD 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 (1Y) Calculated over the trailing 1-year period	-0.06
Correlation (3Y) Calculated over the trailing 3-year period	0.02
Correlation (5Y) Calculated over the trailing 5-year period	0.05
Correlation (10Y) Calculated over the trailing 10-year period	0.02
Correlation (All Time) Calculated using the full available price history since Oct 23, 2008	0.01

The correlation between BGL.AX and APLD shifts across timeframes, from -0.06 (1 year) to 0.05 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

BGL.AX vs. APLD — Risk / Return Rank

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

BGL.AX

BGL.AX Risk / Return Rank: 70
BGL.AX Sharpe Ratio Rank: 72
BGL.AX Sortino Ratio Rank: 69
BGL.AX Omega Ratio Rank: 66
BGL.AX Calmar Ratio Rank: 70
BGL.AX Martin Ratio Rank: 73

APLD

APLD Risk / Return Rank: 92
APLD Sharpe Ratio Rank: 94
APLD Sortino Ratio Rank: 91
APLD Omega Ratio Rank: 86
APLD Calmar Ratio Rank: 94
APLD Martin Ratio Rank: 93

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.

BGL.AX vs. APLD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Bellevue Gold Limited (BGL.AX) and Applied Digital Corporation (APLD). 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.

	BGL.AX	APLD	Difference
Sharpe ratio: Return per unit of total volatility	1.02	2.74	-1.72
Sortino ratio: Return per unit of downside risk	1.65	3.28	-1.63
Omega ratio: Gain probability vs. loss probability	1.20	1.36	-0.16
Calmar ratio: Return relative to maximum drawdown	1.56	6.06	-4.50
Martin ratio: Return relative to average drawdown	4.35	13.22	-8.87
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BGL.AX vs. APLD - Sharpe Ratio Comparison

The current BGL.AX Sharpe Ratio is 1.02, which is lower than the APLD Sharpe Ratio of 2.74. The chart below compares the historical Sharpe Ratios of BGL.AX and APLD, 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

	BGL.AX	APLD	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.02	2.74	-1.72
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.25	0.40	-0.15
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.74	0.41	+0.33
Sharpe Ratio (All Time) Calculated using the full available price history	0.15	0.05	+0.10

Drawdowns

BGL.AX vs. APLD - Drawdown Comparison

The maximum BGL.AX drawdown since its inception was -99.34%, roughly equal to the maximum APLD drawdown of -99.81%. Use the drawdown chart below to compare losses from any high point for BGL.AX and APLD.

Drawdown Indicators

	BGL.AX	APLD	Difference
Max Drawdown Largest peak-to-trough decline	-99.34%	-99.81%	+0.47%
Max Drawdown (1Y) Largest decline over 1 year	-36.93%	-49.13%	+12.20%
Max Drawdown (3Y) Largest decline over 3 years	-61.82%	-75.32%	+13.50%
Max Drawdown (5Y) Largest decline over 5 years	-61.82%	-96.78%	+34.96%
Max Drawdown (10Y) Largest decline over 10 years	-61.82%	-96.78%	+34.96%
Current Drawdown Current decline from peak	-25.62%	-9.92%	-15.70%
Average Drawdown Average peak-to-trough decline	-58.34%	-83.57%	+25.23%
Ulcer Index Depth and duration of drawdowns from previous peaks	13.27%	22.48%	-9.21%

Volatility

BGL.AX vs. APLD - Volatility Comparison

The current volatility for Bellevue Gold Limited (BGL.AX) is 15.76%, while Applied Digital Corporation (APLD) has a volatility of 33.65%. This indicates that BGL.AX experiences smaller price fluctuations and is considered to be less risky than APLD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BGL.AX	APLD	Difference
Volatility (1M) Calculated over the trailing 1-month period	15.76%	33.65%	-17.89%
Volatility (6M) Calculated over the trailing 6-month period	44.51%	77.52%	-33.01%
Volatility (1Y) Calculated over the trailing 1-year period	56.37%	108.76%	-52.39%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	53.71%	142.72%	-89.01%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	79.06%	294.14%	-215.08%

Dividends

BGL.AX vs. APLD - Dividend Comparison

Neither BGL.AX nor APLD has paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
APLD Applied Digital Corporation	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
BGL.AX Bellevue Gold Limited	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	59.09%	48.39%

Financials

Frequently Asked Questions

Can I hold both BGL.AX and APLD in my portfolio?

BGL.AX and APLD 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.