CTGO vs. GDXJ

Last updated Jul 8, 2026

CTGO (Contango Ore, Inc.) is a stock, while GDXJ (VanEck Junior Gold Miners ETF) is Gold fund tracking the MVIS Global Junior Gold Miners Index. Over the past 10 years, CTGO returned 6.27%/yr vs 8.88%/yr for GDXJ. At a 0.13 correlation, their price movements are largely independent.

Performance

CTGO vs. GDXJ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Contango Ore, Inc. (CTGO) and VanEck Junior Gold Miners ETF (GDXJ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CTGO achieves a -37.03% return, which is significantly lower than GDXJ's -13.05% return. Over the past 10 years, CTGO has underperformed GDXJ with an annualized return of 6.27%, while GDXJ has yielded a comparatively higher 8.88% annualized return.

CTGO

• 1D: -3.26%
• 1M: 0.79%
• 6M: -39.11%
• YTD: -37.03%
• 1Y: -15.75%
• 3Y*: -10.35%
• 5Y*: -5.44%
• 10Y*: 6.27%

GDXJ

• 1D: -4.79%
• 1M: -1.65%
• 6M: -18.83%
• YTD: -13.05%
• 1Y: 46.64%
• 3Y*: 43.95%
• 5Y*: 18.66%
• 10Y*: 8.88%

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

CTGO vs. GDXJ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
CTGO Contango Ore, Inc.	-37.03%	163.57%	-44.67%	-20.99%	-10.47%	36.53%	29.31%	-17.14%	-3.58%	-7.40%
GDXJ VanEck Junior Gold Miners ETF	-13.05%	172.28%	15.67%	7.12%	-14.53%	-21.25%	30.40%	40.44%	-11.02%	8.22%

Correlation

The correlation between CTGO and GDXJ is 0.68, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.68
Correlation (3Y) Calculated over the trailing 3-year period	0.51
Correlation (5Y) Calculated over the trailing 5-year period	0.35
Correlation (10Y) Calculated over the trailing 10-year period	0.18
Correlation (All Time) Calculated using the full available price history since Jan 10, 2011	0.13

Over the past year, CTGO and GDXJ have become more correlated (0.68) than their long-term average of 0.13, meaning their price movements have been converging.

Return for Risk

CTGO vs. GDXJ — Risk / Return Rank

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

CTGO

CTGO Risk / Return Rank: 33
CTGO Sharpe Ratio Rank: 33
CTGO Sortino Ratio Rank: 34
CTGO Omega Ratio Rank: 34
CTGO Calmar Ratio Rank: 34
CTGO Martin Ratio Rank: 32

GDXJ

GDXJ Risk / Return Rank: 27
GDXJ Sharpe Ratio Rank: 27
GDXJ Sortino Ratio Rank: 27
GDXJ Omega Ratio Rank: 29
GDXJ Calmar Ratio Rank: 27
GDXJ Martin Ratio Rank: 24

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.

CTGO vs. GDXJ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Contango Ore, Inc. (CTGO) and VanEck Junior Gold Miners ETF (GDXJ). 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.

	CTGO	GDXJ	Difference
Sharpe ratio: Return per unit of total volatility	-0.25	0.89	-1.14
Sortino ratio: Return per unit of downside risk	0.07	1.36	-1.30
Omega ratio: Gain probability vs. loss probability	1.01	1.18	-0.17
Calmar ratio: Return relative to maximum drawdown	-0.29	1.19	-1.47
Martin ratio: Return relative to average drawdown	-0.65	2.82	-3.47

CTGO vs. GDXJ - Sharpe Ratio Comparison

The current CTGO Sharpe Ratio is -0.25, which is lower than the GDXJ Sharpe Ratio of 0.89. The chart below compares the historical Sharpe Ratios of CTGO and GDXJ, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

CTGO vs. GDXJ - Drawdown Comparison

The maximum CTGO drawdown since its inception was -86.86%, roughly equal to the maximum GDXJ drawdown of -88.66%. Use the drawdown chart below to compare losses from any high point for CTGO and GDXJ.

Drawdown Indicators

	CTGO	GDXJ	Difference
Max Drawdown Largest peak-to-trough decline	-86.86%	-88.66%	+1.80%
Max Drawdown (1Y) Largest decline over 1 year	-55.20%	-39.47%	-15.73%
Max Drawdown (3Y) Largest decline over 3 years	-66.98%	-39.47%	-27.51%
Max Drawdown (5Y) Largest decline over 5 years	-72.48%	-48.79%	-23.69%
Max Drawdown (10Y) Largest decline over 10 years	-72.87%	-57.77%	-15.10%
Current Drawdown Current decline from peak	-49.76%	-36.66%	-13.10%
Average Drawdown Average peak-to-trough decline	-39.09%	-60.35%	+21.26%
Ulcer Index Depth and duration of drawdowns from previous peaks	24.32%	16.57%	+7.75%

Volatility

CTGO vs. GDXJ - Volatility Comparison

Contango Ore, Inc. (CTGO) has a higher volatility of 21.32% compared to VanEck Junior Gold Miners ETF (GDXJ) at 20.00%. This indicates that CTGO's price experiences larger fluctuations and is considered to be riskier than GDXJ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CTGO	GDXJ	Difference
Volatility (1M) Calculated over the trailing 1-month period	21.32%	20.00%	+1.32%
Volatility (6M) Calculated over the trailing 6-month period	52.83%	44.46%	+8.37%
Volatility (1Y) Calculated over the trailing 1-year period	63.37%	52.91%	+10.46%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	61.51%	41.86%	+19.65%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	75.51%	44.26%	+31.25%

Dividends

CTGO vs. GDXJ - Dividend Comparison

CTGO has not paid dividends to shareholders, while GDXJ's dividend yield for the trailing twelve months is around 2.68%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CTGO Contango Ore, Inc.	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
GDXJ VanEck Junior Gold Miners ETF	2.68%	2.33%	2.61%	0.72%	0.51%	1.78%	1.58%	0.39%	0.45%	0.03%	4.78%	0.72%

Frequently Asked Questions

Can I hold both CTGO and GDXJ in my portfolio?

CTGO and GDXJ have a correlation of 0.68, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CTGO or GDXJ?

CTGO has higher volatility (21.32%) compared to GDXJ (20.00%). In terms of maximum drawdown, CTGO dropped -86.86% vs GDXJ's -88.66%.

Which has better risk-adjusted returns?

GDXJ currently has the higher Sharpe Ratio (0.89 vs -0.25), 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.