ELVA vs. IAU
ELVA (Electrovaya Inc. Common Shares) is a stock, while IAU (iShares Gold Trust) is Gold fund tracking the LBMA Gold Price. Over the past 10 years, ELVA returned 2.89%/yr vs 12.31%/yr for IAU. At a 0.07 correlation, their price movements are largely independent.
Performance
ELVA vs. IAU - Performance Comparison
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Returns By Period
In the year-to-date period, ELVA achieves a 20.25% return, which is significantly higher than IAU's -2.44% return. Over the past 10 years, ELVA has underperformed IAU with an annualized return of 2.89%, while IAU has yielded a comparatively higher 12.31% annualized return.
ELVA
- 1D
- -3.16%
- 1M
- -0.52%
- YTD
- 20.25%
- 6M
- 43.50%
- 1Y
- 181.07%
- 3Y*
- 37.56%
- 5Y*
- 9.63%
- 10Y*
- 2.89%
IAU
- 1D
- 0.08%
- 1M
- -7.39%
- YTD
- -2.44%
- 6M
- -2.22%
- 1Y
- 22.32%
- 3Y*
- 29.07%
- 5Y*
- 17.23%
- 10Y*
- 12.31%
ELVA vs. IAU - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ELVA Electrovaya Inc. Common Shares | 20.25% | 218.55% | -18.95% | -17.30% | 2.78% | -38.98% | 686.67% | 48.08% | -80.52% | -67.02% |
IAU iShares Gold Trust | -2.44% | 63.95% | 26.85% | 12.84% | -0.63% | -4.00% | 25.03% | 17.98% | -1.76% | 12.91% |
Correlation
The correlation between ELVA and IAU is 0.23, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.23 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.09 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.08 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.07 |
Correlation (All Time) Calculated using the full available price history since Jan 8, 2016 | 0.07 |
The correlation between ELVA and IAU shifts across timeframes, from 0.07 (all time) to 0.23 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
ELVA vs. IAU — Risk / Return Rank
ELVA
IAU
ELVA vs. IAU - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Electrovaya Inc. Common Shares (ELVA) and iShares Gold Trust (IAU). 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.
| ELVA | IAU | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.12 | ||
| Sortino ratioReturn per unit of downside risk | +1.39 | ||
| Omega ratioGain probability vs. loss probability | 1.32 | 1.19 | +0.14 |
| Calmar ratioReturn relative to maximum drawdown | 3.80 | 0.99 | +2.81 |
| Martin ratioReturn relative to average drawdown | 9.01 | 2.83 | +6.18 |
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Drawdowns
ELVA vs. IAU - Drawdown Comparison
The maximum ELVA drawdown since its inception was -96.90%, which is greater than IAU's maximum drawdown of -45.14%. Use the drawdown chart below to compare losses from any high point for ELVA and IAU.
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Drawdown Indicators
| ELVA | IAU | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -96.90% | -45.14% | -51.76% |
Max Drawdown (1Y)Largest decline over 1 year | -44.42% | -24.40% | -20.02% |
Max Drawdown (3Y)Largest decline over 3 years | -64.19% | -24.40% | -39.79% |
Max Drawdown (5Y)Largest decline over 5 years | -66.78% | -24.40% | -42.38% |
Max Drawdown (10Y)Largest decline over 10 years | -96.90% | -24.40% | -72.50% |
Current DrawdownCurrent decline from peak | -41.01% | -22.03% | -18.98% |
Average DrawdownAverage peak-to-trough decline | -73.62% | -15.97% | -57.65% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 18.71% | 8.47% | +10.24% |
Volatility
ELVA vs. IAU - Volatility Comparison
Electrovaya Inc. Common Shares (ELVA) has a higher volatility of 27.27% compared to iShares Gold Trust (IAU) at 7.70%. This indicates that ELVA's price experiences larger fluctuations and is considered to be riskier than IAU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ELVA | IAU | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 27.27% | 7.70% | +19.57% |
Volatility (6M)Calculated over the trailing 6-month period | 63.77% | 23.94% | +39.83% |
Volatility (1Y)Calculated over the trailing 1-year period | 84.18% | 27.17% | +57.01% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 69.12% | 18.16% | +50.96% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 86.10% | 16.02% | +70.08% |
Dividends
ELVA vs. IAU - Dividend Comparison
Neither ELVA nor IAU has paid dividends to shareholders.
Frequently Asked Questions
ELVA and IAU 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.
ELVA has higher volatility (27.27%) compared to IAU (7.70%). In terms of maximum drawdown, ELVA dropped -96.90% vs IAU's -45.14%.
ELVA currently has the higher Sharpe Ratio (2.00 vs 0.89), 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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