CL=F vs. GOLD

Last updated Jun 4, 2026

CL=F (Crude Oil WTI) is an asset, while GOLD (Barrick Mining Corporation) is a stock. At a correlation of -0.23, they often move in opposite directions.

Performance

CL=F vs. GOLD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Crude Oil WTI (CL=F) and Barrick Mining Corporation (GOLD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CL=F achieves a 67.54% return, which is significantly higher than GOLD's 16.19% return.

CL=F

• 1D: 2.60%
• 1M: -9.60%
• YTD: 67.54%
• 6M: 63.19%
• 1Y: 51.71%
• 3Y*: 10.22%
• 5Y*: 6.75%
• 10Y*: 7.06%

GOLD

• 1D: -1.97%
• 1M: -7.53%
• YTD: 16.19%
• 6M: 26.08%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

CL=F vs. GOLD - Yearly Performance Comparison

	2026 (YTD)	2025
CL=F Crude Oil WTI	67.54%	-2.08%
GOLD Barrick Mining Corporation	16.19%	14.34%

Correlation

The correlation between CL=F and GOLD is -0.23, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (All Time) Calculated using the full available price history since Dec 3, 2025	-0.23

Return for Risk

CL=F vs. GOLD — Risk / Return Rank

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

CL=F

CL=F Risk / Return Rank: 35
CL=F Sharpe Ratio Rank: 35
CL=F Sortino Ratio Rank: 38
CL=F Omega Ratio Rank: 30
CL=F Calmar Ratio Rank: 50
CL=F Martin Ratio Rank: 22

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.

CL=F vs. GOLD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Crude Oil WTI (CL=F) and Barrick Mining Corporation (GOLD). 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.

	CL=F	GOLD	Difference
Sharpe ratio: Return per unit of total volatility	0.93	—	—
Sortino ratio: Return per unit of downside risk	1.42	—	—
Omega ratio: Gain probability vs. loss probability	1.22	—	—
Calmar ratio: Return relative to maximum drawdown	1.70	—	—
Martin ratio: Return relative to average drawdown	2.77	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	CL=F	GOLD	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.93	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.16	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.14	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.07	1.32	-1.25

Drawdowns

CL=F vs. GOLD - Drawdown Comparison

The maximum CL=F drawdown since its inception was -92.04%, which is greater than GOLD's maximum drawdown of -40.58%. Use the drawdown chart below to compare losses from any high point for CL=F and GOLD.

Drawdown Indicators

	CL=F	GOLD	Difference
Max Drawdown Largest peak-to-trough decline	-92.04%	-40.58%	-51.46%
Max Drawdown (1Y) Largest decline over 1 year	-27.07%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-39.46%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-53.86%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-84.82%	—	—
Current Drawdown Current decline from peak	-33.79%	-38.32%	+4.53%
Average Drawdown Average peak-to-trough decline	-40.81%	-17.25%	-23.56%
Ulcer Index Depth and duration of drawdowns from previous peaks	12.27%	—	—

Volatility

Volatility by Period

	CL=F	GOLD	Difference
Volatility (1M) Calculated over the trailing 1-month period	17.01%	—	—
Volatility (6M) Calculated over the trailing 6-month period	46.49%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	49.26%	58.82%	-9.56%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	38.90%	58.82%	-19.92%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	49.55%	58.82%	-9.27%

Frequently Asked Questions

Can I hold both CL=F and GOLD in my portfolio?

CL=F and GOLD have a correlation of -0.23, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.