GLD vs. COIN
GLD (SPDR Gold Shares) is Gold fund tracking the LBMA Gold Price PM, while COIN (Coinbase Global, Inc.) is a stock. Over the past 5 years, GLD returned 17.55%/yr vs -6.29%/yr for COIN. At a 0.10 correlation, their price movements are largely independent.
Performance
GLD vs. COIN - Performance Comparison
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Returns By Period
In the year-to-date period, GLD achieves a 0.24% return, which is significantly higher than COIN's -28.31% return.
GLD
- 1D
- 0.26%
- 1M
- -8.41%
- YTD
- 0.24%
- 6M
- 3.07%
- 1Y
- 30.18%
- 3Y*
- 29.71%
- 5Y*
- 17.55%
- 10Y*
- 12.56%
COIN
- 1D
- 6.37%
- 1M
- -19.41%
- YTD
- -28.31%
- 6M
- -40.88%
- 1Y
- -35.48%
- 3Y*
- 44.90%
- 5Y*
- -6.29%
- 10Y*
- —
GLD vs. COIN - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
GLD SPDR Gold Shares | 0.24% | 63.68% | 26.66% | 12.69% | -0.77% | 4.61% |
COIN Coinbase Global, Inc. | -28.31% | -8.92% | 42.77% | 391.44% | -85.98% | -33.76% |
Correlation
The correlation between GLD and COIN is 0.12, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.12 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.11 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.10 |
Correlation (All Time) Calculated using the full available price history since Apr 14, 2021 | 0.10 |
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Return for Risk
GLD vs. COIN — Risk / Return Rank
GLD
COIN
GLD vs. COIN - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR Gold Shares (GLD) and Coinbase Global, Inc. (COIN). 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.
| GLD | COIN | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.64 | ||
| Sortino ratioReturn per unit of downside risk | +1.92 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 0.95 | +0.28 |
| Calmar ratioReturn relative to maximum drawdown | 1.51 | -0.54 | +2.04 |
| Martin ratioReturn relative to average drawdown | 3.78 | -0.88 | +4.66 |
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
| GLD | COIN | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.13 | -0.51 | +1.64 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.98 | -0.07 | +1.05 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.79 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.59 | -0.15 | +0.74 |
Drawdowns
GLD vs. COIN - Drawdown Comparison
The maximum GLD drawdown since its inception was -45.56%, smaller than the maximum COIN drawdown of -90.90%. Use the drawdown chart below to compare losses from any high point for GLD and COIN.
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Drawdown Indicators
| GLD | COIN | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -45.56% | -90.90% | +45.34% |
Max Drawdown (1Y)Largest decline over 1 year | -20.10% | -66.39% | +46.29% |
Max Drawdown (3Y)Largest decline over 3 years | -20.10% | -66.39% | +46.29% |
Max Drawdown (5Y)Largest decline over 5 years | -21.03% | -90.90% | +69.87% |
Max Drawdown (10Y)Largest decline over 10 years | -22.00% | — | — |
Current DrawdownCurrent decline from peak | -19.89% | -61.38% | +41.49% |
Average DrawdownAverage peak-to-trough decline | -16.16% | -49.86% | +33.70% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 8.01% | 40.25% | -32.24% |
Volatility
GLD vs. COIN - Volatility Comparison
The current volatility for SPDR Gold Shares (GLD) is 5.68%, while Coinbase Global, Inc. (COIN) has a volatility of 21.42%. This indicates that GLD experiences smaller price fluctuations and is considered to be less risky than COIN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GLD | COIN | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.68% | 21.42% | -15.74% |
Volatility (6M)Calculated over the trailing 6-month period | 23.47% | 51.58% | -28.11% |
Volatility (1Y)Calculated over the trailing 1-year period | 26.87% | 70.60% | -43.73% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.07% | 85.93% | -67.86% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.99% | 85.40% | -69.41% |
Dividends
GLD vs. COIN - Dividend Comparison
Neither GLD nor COIN has paid dividends to shareholders.
Frequently Asked Questions
GLD and COIN have a correlation of 0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
COIN has higher volatility (21.42%) compared to GLD (5.68%). In terms of maximum drawdown, GLD dropped -45.56% vs COIN's -90.90%.
GLD currently has the higher Sharpe Ratio (1.13 vs -0.51), 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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