COPA.L vs. ^GSPC
COPA.L (WisdomTree Copper) is Metals fund tracking the Bloomberg Copper Subindex, while ^GSPC (S&P 500 Index) is an index. Over the past 10 years, COPA.L returned 10.40%/yr vs 13.66%/yr for ^GSPC. At a 0.26 correlation, their price movements are largely independent.
Performance
COPA.L vs. ^GSPC - Performance Comparison
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Returns By Period
In the year-to-date period, COPA.L achieves a 13.63% return, which is significantly higher than ^GSPC's 10.35% return. Over the past 10 years, COPA.L has underperformed ^GSPC with an annualized return of 10.40%, while ^GSPC has yielded a comparatively higher 13.66% annualized return.
COPA.L
- 1D
- -2.52%
- 1M
- 8.92%
- YTD
- 13.63%
- 6M
- 19.65%
- 1Y
- 30.77%
- 3Y*
- 19.39%
- 5Y*
- 7.00%
- 10Y*
- 10.40%
^GSPC
- 1D
- -0.74%
- 1M
- 4.90%
- YTD
- 10.35%
- 6M
- 10.28%
- 1Y
- 26.52%
- 3Y*
- 20.83%
- 5Y*
- 12.30%
- 10Y*
- 13.66%
COPA.L vs. ^GSPC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
COPA.L WisdomTree Copper | 13.63% | 36.37% | 4.81% | 2.66% | -13.58% | 24.36% | 21.41% | 4.90% | -20.37% | 26.83% |
^GSPC S&P 500 Index | 10.35% | 16.39% | 23.31% | 24.23% | -19.44% | 26.89% | 16.26% | 28.88% | -6.24% | 19.42% |
Correlation
The correlation between COPA.L and ^GSPC is 0.41, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.41 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.26 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.24 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.23 |
Correlation (All Time) Calculated using the full available price history since Mar 19, 2007 | 0.26 |
The correlation between COPA.L and ^GSPC shifts across timeframes, from 0.23 (10 years) to 0.41 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
COPA.L vs. ^GSPC — Risk / Return Rank
COPA.L
^GSPC
COPA.L vs. ^GSPC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for WisdomTree Copper (COPA.L) and S&P 500 Index (^GSPC). 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.
| COPA.L | ^GSPC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.32 | ||
| Sortino ratioReturn per unit of downside risk | -1.82 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 1.41 | -0.18 |
| Calmar ratioReturn relative to maximum drawdown | 1.21 | 2.93 | -1.71 |
| Martin ratioReturn relative to average drawdown | 2.61 | 13.52 | -10.91 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| COPA.L | ^GSPC | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.92 | 2.24 | -1.32 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.27 | 0.73 | -0.46 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.45 | 0.76 | -0.31 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.09 | 0.47 | -0.38 |
Drawdowns
COPA.L vs. ^GSPC - Drawdown Comparison
The maximum COPA.L drawdown since its inception was -67.44%, which is greater than ^GSPC's maximum drawdown of -56.78%. Use the drawdown chart below to compare losses from any high point for COPA.L and ^GSPC.
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Drawdown Indicators
| COPA.L | ^GSPC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -67.44% | -56.78% | -10.66% |
Max Drawdown (1Y)Largest decline over 1 year | -25.25% | -9.10% | -16.15% |
Max Drawdown (3Y)Largest decline over 3 years | -25.25% | -18.90% | -6.35% |
Max Drawdown (5Y)Largest decline over 5 years | -34.64% | -25.43% | -9.21% |
Max Drawdown (10Y)Largest decline over 10 years | -38.75% | -33.92% | -4.83% |
Current DrawdownCurrent decline from peak | -2.52% | -0.74% | -1.78% |
Average DrawdownAverage peak-to-trough decline | -33.25% | -10.72% | -22.53% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 11.74% | 1.97% | +9.77% |
Volatility
COPA.L vs. ^GSPC - Volatility Comparison
WisdomTree Copper (COPA.L) has a higher volatility of 8.83% compared to S&P 500 Index (^GSPC) at 2.93%. This indicates that COPA.L's price experiences larger fluctuations and is considered to be riskier than ^GSPC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| COPA.L | ^GSPC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.83% | 2.93% | +5.90% |
Volatility (6M)Calculated over the trailing 6-month period | 18.91% | 8.99% | +9.92% |
Volatility (1Y)Calculated over the trailing 1-year period | 33.19% | 11.89% | +21.30% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 26.21% | 16.90% | +9.31% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 23.29% | 18.06% | +5.23% |
Frequently Asked Questions
COPA.L and ^GSPC have a correlation of 0.41, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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