GLD vs. SHOP
GLD (SPDR Gold Shares) is Gold fund tracking the LBMA Gold Price PM, while SHOP (Shopify Inc.) is a stock. Over the past 10 years, GLD returned 12.15%/yr vs 43.59%/yr for SHOP. At a 0.04 correlation, their price movements are largely independent.
Performance
GLD vs. SHOP - Performance Comparison
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Returns By Period
In the year-to-date period, GLD achieves a -2.47% return, which is significantly higher than SHOP's -32.76% return. Over the past 10 years, GLD has underperformed SHOP with an annualized return of 12.15%, while SHOP has yielded a comparatively higher 43.59% annualized return.
GLD
- 1D
- 0.06%
- 1M
- -10.21%
- YTD
- -2.47%
- 6M
- -2.25%
- 1Y
- 23.81%
- 3Y*
- 28.89%
- 5Y*
- 17.08%
- 10Y*
- 12.15%
SHOP
- 1D
- -2.02%
- 1M
- 13.46%
- YTD
- -32.76%
- 6M
- -34.08%
- 1Y
- -0.89%
- 3Y*
- 19.24%
- 5Y*
- -2.79%
- 10Y*
- 43.59%
GLD vs. SHOP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
GLD SPDR Gold Shares | -2.47% | 63.68% | 26.66% | 12.69% | -0.77% | -4.15% | 24.81% | 17.86% | -1.94% | 12.81% |
SHOP Shopify Inc. | -32.76% | 51.39% | 36.50% | 124.43% | -74.80% | 21.68% | 184.71% | 187.17% | 37.08% | 135.60% |
Correlation
The correlation between GLD and SHOP 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 | 0.07 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.06 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.06 |
Correlation (All Time) Calculated using the full available price history since May 21, 2015 | 0.04 |
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Return for Risk
GLD vs. SHOP — Risk / Return Rank
GLD
SHOP
GLD vs. SHOP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR Gold Shares (GLD) and Shopify Inc. (SHOP). 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.
| GLD | SHOP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.89 | ||
| Sortino ratioReturn per unit of downside risk | +0.85 | ||
| Omega ratioGain probability vs. loss probability | 1.18 | 1.05 | +0.14 |
| Calmar ratioReturn relative to maximum drawdown | 0.98 | -0.02 | +1.00 |
| Martin ratioReturn relative to average drawdown | 2.81 | -0.04 | +2.85 |
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Drawdowns
GLD vs. SHOP - Drawdown Comparison
The maximum GLD drawdown since its inception was -45.56%, smaller than the maximum SHOP drawdown of -84.82%. Use the drawdown chart below to compare losses from any high point for GLD and SHOP.
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Drawdown Indicators
| GLD | SHOP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -45.56% | -84.82% | +39.26% |
Max Drawdown (1Y)Largest decline over 1 year | -24.46% | -46.71% | +22.25% |
Max Drawdown (3Y)Largest decline over 3 years | -24.46% | -46.71% | +22.25% |
Max Drawdown (5Y)Largest decline over 5 years | -24.46% | -84.82% | +60.36% |
Max Drawdown (10Y)Largest decline over 10 years | -24.46% | -84.82% | +60.36% |
Current DrawdownCurrent decline from peak | -22.05% | -39.53% | +17.48% |
Average DrawdownAverage peak-to-trough decline | -16.16% | -28.23% | +12.07% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 8.49% | 22.27% | -13.78% |
Volatility
GLD vs. SHOP - Volatility Comparison
The current volatility for SPDR Gold Shares (GLD) is 7.79%, while Shopify Inc. (SHOP) has a volatility of 15.38%. This indicates that GLD experiences smaller price fluctuations and is considered to be less risky than SHOP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GLD | SHOP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.79% | 15.38% | -7.59% |
Volatility (6M)Calculated over the trailing 6-month period | 24.10% | 43.41% | -19.31% |
Volatility (1Y)Calculated over the trailing 1-year period | 27.37% | 57.03% | -29.66% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.22% | 65.55% | -47.33% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.08% | 59.07% | -42.99% |
Dividends
GLD vs. SHOP - Dividend Comparison
Neither GLD nor SHOP has paid dividends to shareholders.
Frequently Asked Questions
GLD and SHOP 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.
SHOP has higher volatility (15.38%) compared to GLD (7.79%). In terms of maximum drawdown, GLD dropped -45.56% vs SHOP's -84.82%.
GLD currently has the higher Sharpe Ratio (0.87 vs -0.02), 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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