COPX vs. PGY
COPX (Global X Copper Miners ETF) is Copper fund tracking the Solactive Global Copper Miners Total Return Index, while PGY (Pagaya Technologies Ltd.) is a stock. Over the past 3 years, COPX returned 33.96%/yr vs 1.47%/yr for PGY. At a 0.30 correlation, their price movements are largely independent.
Performance
COPX vs. PGY - Performance Comparison
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Returns By Period
In the year-to-date period, COPX achieves a 19.75% return, which is significantly higher than PGY's -26.22% return.
COPX
- 1D
- 3.38%
- 1M
- -3.82%
- YTD
- 19.75%
- 6M
- 29.13%
- 1Y
- 106.27%
- 3Y*
- 33.96%
- 5Y*
- 19.28%
- 10Y*
- 21.86%
PGY
- 1D
- -2.10%
- 1M
- 13.88%
- YTD
- -26.22%
- 6M
- -32.07%
- 1Y
- -14.05%
- 3Y*
- 1.47%
- 5Y*
- —
- 10Y*
- —
COPX vs. PGY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
COPX Global X Copper Miners ETF | 19.75% | 93.50% | 3.57% | 8.38% | 11.30% |
PGY Pagaya Technologies Ltd. | -26.22% | 124.97% | -43.90% | 11.29% | -82.29% |
Correlation
The correlation between COPX and PGY is 0.20, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.20 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.32 |
Correlation (All Time) Calculated using the full available price history since Jun 23, 2022 | 0.30 |
The correlation between COPX and PGY shifts across timeframes, from 0.20 (1 year) to 0.32 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
COPX vs. PGY — Risk / Return Rank
COPX
PGY
COPX vs. PGY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Global X Copper Miners ETF (COPX) and Pagaya Technologies Ltd. (PGY). 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.
| COPX | PGY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.60 | ||
| Sortino ratioReturn per unit of downside risk | +2.44 | ||
| Omega ratioGain probability vs. loss probability | 1.36 | 1.03 | +0.33 |
| Calmar ratioReturn relative to maximum drawdown | 3.75 | -0.22 | +3.97 |
| Martin ratioReturn relative to average drawdown | 11.60 | -0.33 | +11.93 |
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Drawdowns
COPX vs. PGY - Drawdown Comparison
The maximum COPX drawdown since its inception was -83.16%, smaller than the maximum PGY drawdown of -98.09%. Use the drawdown chart below to compare losses from any high point for COPX and PGY.
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Drawdown Indicators
| COPX | PGY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -83.16% | -98.09% | +14.93% |
Max Drawdown (1Y)Largest decline over 1 year | -27.82% | -75.71% | +47.89% |
Max Drawdown (3Y)Largest decline over 3 years | -39.72% | -75.71% | +35.99% |
Max Drawdown (5Y)Largest decline over 5 years | -42.12% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -65.41% | — | — |
Current DrawdownCurrent decline from peak | -10.17% | -95.71% | +85.54% |
Average DrawdownAverage peak-to-trough decline | -39.28% | -92.10% | +52.82% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 8.98% | 49.48% | -40.50% |
Volatility
COPX vs. PGY - Volatility Comparison
The current volatility for Global X Copper Miners ETF (COPX) is 19.30%, while Pagaya Technologies Ltd. (PGY) has a volatility of 23.48%. This indicates that COPX experiences smaller price fluctuations and is considered to be less risky than PGY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| COPX | PGY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 19.30% | 23.48% | -4.18% |
Volatility (6M)Calculated over the trailing 6-month period | 38.15% | 56.92% | -18.77% |
Volatility (1Y)Calculated over the trailing 1-year period | 43.66% | 80.20% | -36.54% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 37.00% | 144.65% | -107.65% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 35.75% | 144.65% | -108.90% |
Dividends
COPX vs. PGY - Dividend Comparison
COPX's dividend yield for the trailing twelve months is around 2.24%, while PGY has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
COPX Global X Copper Miners ETF | 2.24% | 2.68% | 1.80% | 2.39% | 3.14% | 1.48% | 1.30% | 1.37% | 2.59% | 1.57% | 0.60% | 1.20% |
PGY Pagaya Technologies Ltd. | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
COPX and PGY have a correlation of 0.20, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PGY has higher volatility (23.48%) compared to COPX (19.30%). In terms of maximum drawdown, COPX dropped -83.16% vs PGY's -98.09%.
COPX currently has the higher Sharpe Ratio (2.39 vs -0.21), 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.
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