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GC=F vs. ^GSPC
Performance
Risk-Adjusted Performance
Drawdowns
Volatility

GC=F vs. ^GSPC

Last updated May 16, 2025

Compare and contrast key facts about Gold (GC=F) and S&P 500 (^GSPC).

Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: GC=F or ^GSPC.

Correlation

The correlation between GC=F and ^GSPC is -0.00. This indicates that the assets' prices tend to move in opposite directions. Negative correlation can be particularly beneficial for diversification and risk management, as one asset may offset the losses of the other during market fluctuations.

Performance

GC=F vs. ^GSPC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Gold (GC=F) and S&P 500 (^GSPC). The values are adjusted to include any dividend payments, if applicable.

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Key characteristics

Sharpe Ratio

GC=F:

1.96

^GSPC:

0.59

Sortino Ratio

GC=F:

2.56

^GSPC:

1.07

Omega Ratio

GC=F:

1.34

^GSPC:

1.16

Calmar Ratio

GC=F:

4.48

^GSPC:

0.70

Martin Ratio

GC=F:

11.40

^GSPC:

2.69

Ulcer Index

GC=F:

3.14%

^GSPC:

4.95%

Daily Std Dev

GC=F:

18.22%

^GSPC:

19.64%

Max Drawdown

GC=F:

-44.36%

^GSPC:

-56.78%

Current Drawdown

GC=F:

-4.94%

^GSPC:

-3.70%

Returns By Period

In the year-to-date period, GC=F achieves a 23.34% return, which is significantly higher than ^GSPC's 0.60% return. Over the past 10 years, GC=F has underperformed ^GSPC with an annualized return of 10.21%, while ^GSPC has yielded a comparatively higher 10.79% annualized return.

GC=F

YTD

23.34%

1M

0.75%

6M

26.27%

1Y

35.76%

5Y*

13.10%

10Y*

10.21%

^GSPC

YTD

0.60%

1M

9.64%

6M

-0.54%

1Y

11.47%

5Y*

15.67%

10Y*

10.79%

*Annualized

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Risk-Adjusted Performance

GC=F vs. ^GSPC — Risk-Adjusted Performance Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
GC=F
The Risk-Adjusted Performance Rank of GC=F is 100100
Overall Rank
The Sharpe Ratio Rank of GC=F is 100100
Sharpe Ratio Rank
The Sortino Ratio Rank of GC=F is 100100
Sortino Ratio Rank
The Omega Ratio Rank of GC=F is 100100
Omega Ratio Rank
The Calmar Ratio Rank of GC=F is 100100
Calmar Ratio Rank
The Martin Ratio Rank of GC=F is 100100
Martin Ratio Rank
^GSPC
The Risk-Adjusted Performance Rank of ^GSPC is 7575
Overall Rank
The Sharpe Ratio Rank of ^GSPC is 6363
Sharpe Ratio Rank
The Sortino Ratio Rank of ^GSPC is 7272
Sortino Ratio Rank
The Omega Ratio Rank of ^GSPC is 8080
Omega Ratio Rank
The Calmar Ratio Rank of ^GSPC is 7777
Calmar Ratio Rank
The Martin Ratio Rank of ^GSPC is 8383
Martin Ratio Rank
The risk-adjusted ranks indicate the investment's position relative to the market. A rank closer to 100 signifies top-performing investments, while a rank closer to 0 might suggest underperformance, based on the selected ratio. The values are calculated based on the past 12 months of returns.

GC=F vs. ^GSPC - Risk-Adjusted Performance Comparison

This table presents a comparison of risk-adjusted performance metrics for Gold (GC=F) and S&P 500 (^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.

The current GC=F Sharpe Ratio is 1.96, which is higher than the ^GSPC Sharpe Ratio of 0.59. The chart below compares the historical Sharpe Ratios of GC=F and ^GSPC, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

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Drawdowns

GC=F vs. ^GSPC - Drawdown Comparison

The maximum GC=F drawdown since its inception was -44.36%, smaller than the maximum ^GSPC drawdown of -56.78%. Use the drawdown chart below to compare losses from any high point for GC=F and ^GSPC. For additional features, visit the drawdowns tool.

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Volatility

GC=F vs. ^GSPC - Volatility Comparison

Gold (GC=F) has a higher volatility of 8.93% compared to S&P 500 (^GSPC) at 6.12%. This indicates that GC=F'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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