CGL.TO vs. PANW
CGL.TO (iShares Gold Bullion ETF (CAD-Hedged)) is Gold fund tracking the Gold Bullion, while PANW (Palo Alto Networks, Inc.) is a stock. Over the past 10 years, CGL.TO returned 10.99%/yr vs 30.23%/yr for PANW. At a correlation of -0.01, they often move in opposite directions.
Performance
CGL.TO vs. PANW - Performance Comparison
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Different Trading Currencies
CGL.TO is traded in CAD, while PANW is traded in USD. To make them comparable, the PANW values have been converted to CAD using the latest available exchange rates.
Returns By Period
In the year-to-date period, CGL.TO achieves a -3.19% return, which is significantly lower than PANW's 54.88% return. Over the past 10 years, CGL.TO has underperformed PANW with an annualized return of 10.99%, while PANW has yielded a comparatively higher 30.23% annualized return.
CGL.TO
- 1D
- 0.25%
- 1M
- -9.62%
- YTD
- -3.19%
- 6M
- -3.25%
- 1Y
- 19.93%
- 3Y*
- 27.16%
- 5Y*
- 15.73%
- 10Y*
- 10.99%
PANW
- 1D
- 0.22%
- 1M
- 19.68%
- YTD
- 54.88%
- 6M
- 47.95%
- 1Y
- 46.41%
- 3Y*
- 35.77%
- 5Y*
- 39.58%
- 10Y*
- 30.23%
CGL.TO vs. PANW - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CGL.TO iShares Gold Bullion ETF (CAD-Hedged) | -3.19% | 60.08% | 25.70% | 11.26% | -1.07% | -4.58% | 23.41% | 16.58% | -3.19% | 11.68% |
PANW Palo Alto Networks, Inc. | 54.88% | -3.39% | 33.86% | 106.30% | -20.05% | 56.58% | 50.04% | 17.72% | 40.88% | 8.06% |
Correlation
The correlation between CGL.TO and PANW is -0.01, 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 | -0.01 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.00 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.01 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.01 |
Correlation (All Time) Calculated using the full available price history since Jul 20, 2012 | -0.01 |
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Return for Risk
CGL.TO vs. PANW — Risk / Return Rank
CGL.TO
PANW
CGL.TO vs. PANW - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Gold Bullion ETF (CAD-Hedged) (CGL.TO) and Palo Alto Networks, Inc. (PANW). 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.
| CGL.TO | PANW | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.37 | ||
| Sortino ratioReturn per unit of downside risk | -0.51 | ||
| Omega ratioGain probability vs. loss probability | 1.16 | 1.21 | -0.05 |
| Calmar ratioReturn relative to maximum drawdown | 0.87 | 1.20 | -0.33 |
| Martin ratioReturn relative to average drawdown | 2.49 | 2.69 | -0.20 |
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Drawdowns
CGL.TO vs. PANW - Drawdown Comparison
The maximum CGL.TO drawdown since its inception was -45.96%, roughly equal to the maximum PANW drawdown of -44.65%. Use the drawdown chart below to compare losses from any high point for CGL.TO and PANW.
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Drawdown Indicators
| CGL.TO | PANW | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -45.96% | -44.65% | -1.31% |
Max Drawdown (1Y)Largest decline over 1 year | -24.93% | -37.37% | +12.44% |
Max Drawdown (3Y)Largest decline over 3 years | -24.93% | -37.37% | +12.44% |
Max Drawdown (5Y)Largest decline over 5 years | -24.93% | -37.37% | +12.44% |
Max Drawdown (10Y)Largest decline over 10 years | -24.93% | -44.11% | +19.18% |
Current DrawdownCurrent decline from peak | -22.50% | -5.75% | -16.75% |
Average DrawdownAverage peak-to-trough decline | -20.30% | -14.27% | -6.03% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 8.66% | 16.63% | -7.97% |
Volatility
CGL.TO vs. PANW - Volatility Comparison
The current volatility for iShares Gold Bullion ETF (CAD-Hedged) (CGL.TO) is 7.67%, while Palo Alto Networks, Inc. (PANW) has a volatility of 16.72%. This indicates that CGL.TO experiences smaller price fluctuations and is considered to be less risky than PANW based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CGL.TO | PANW | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.67% | 16.72% | -9.05% |
Volatility (6M)Calculated over the trailing 6-month period | 24.08% | 32.42% | -8.34% |
Volatility (1Y)Calculated over the trailing 1-year period | 27.61% | 39.06% | -11.45% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.54% | 41.89% | -23.35% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.53% | 38.98% | -22.45% |
Dividends
CGL.TO vs. PANW - Dividend Comparison
Neither CGL.TO nor PANW has paid dividends to shareholders.
Frequently Asked Questions
CGL.TO and PANW have a correlation of -0.01, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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