GLDM vs. CCO.TO
GLDM (SPDR Gold MiniShares Trust) is Gold fund tracking the LBMA Gold Price PM, while CCO.TO (Cameco Corporation) is a stock. Over the past 5 years, GLDM returned 17.41%/yr vs 36.56%/yr for CCO.TO. At a 0.17 correlation, their price movements are largely independent.
Performance
GLDM vs. CCO.TO - Performance Comparison
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Different Trading Currencies
GLDM is traded in USD, while CCO.TO is traded in CAD. To make them comparable, the CCO.TO values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, GLDM achieves a -2.40% return, which is significantly lower than CCO.TO's 9.98% return.
GLDM
- 1D
- 0.11%
- 1M
- -7.40%
- YTD
- -2.40%
- 6M
- -2.09%
- 1Y
- 22.58%
- 3Y*
- 29.27%
- 5Y*
- 17.41%
- 10Y*
- —
CCO.TO
- 1D
- 1.98%
- 1M
- -6.40%
- YTD
- 9.98%
- 6M
- 10.38%
- 1Y
- 51.89%
- 3Y*
- 47.76%
- 5Y*
- 36.56%
- 10Y*
- 25.52%
GLDM vs. CCO.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
GLDM SPDR Gold MiniShares Trust | -2.40% | 64.20% | 27.08% | 13.04% | -0.47% | -4.01% | 25.10% | 18.10% | 1.75% |
CCO.TO Cameco Corporation | 9.98% | 78.52% | 19.50% | 91.06% | 5.05% | 62.26% | 52.26% | -21.75% | 2.26% |
Correlation
The correlation between GLDM and CCO.TO is 0.30, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.30 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.24 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.22 |
Correlation (All Time) Calculated using the full available price history since Jun 26, 2018 | 0.17 |
The correlation between GLDM and CCO.TO shifts across timeframes, from 0.17 (all time) to 0.30 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
GLDM vs. CCO.TO — Risk / Return Rank
GLDM
CCO.TO
GLDM vs. CCO.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR Gold MiniShares Trust (GLDM) and Cameco Corporation (CCO.TO). 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.
| GLDM | CCO.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.10 | ||
| Sortino ratioReturn per unit of downside risk | -0.45 | ||
| Omega ratioGain probability vs. loss probability | 1.19 | 1.20 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | 1.00 | 1.86 | -0.86 |
| Martin ratioReturn relative to average drawdown | 2.87 | 4.54 | -1.67 |
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Drawdowns
GLDM vs. CCO.TO - Drawdown Comparison
The maximum GLDM drawdown since its inception was -24.35%, smaller than the maximum CCO.TO drawdown of -87.72%. Use the drawdown chart below to compare losses from any high point for GLDM and CCO.TO.
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Drawdown Indicators
| GLDM | CCO.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -24.35% | -87.72% | +63.37% |
Max Drawdown (1Y)Largest decline over 1 year | -24.35% | -28.99% | +4.64% |
Max Drawdown (3Y)Largest decline over 3 years | -24.35% | -40.43% | +16.08% |
Max Drawdown (5Y)Largest decline over 5 years | -24.35% | -40.43% | +16.08% |
Max Drawdown (10Y)Largest decline over 10 years | — | -56.56% | — |
Current DrawdownCurrent decline from peak | -21.96% | -24.48% | +2.52% |
Average DrawdownAverage peak-to-trough decline | -6.27% | -51.22% | +44.95% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 8.44% | 11.83% | -3.39% |
Volatility
GLDM vs. CCO.TO - Volatility Comparison
The current volatility for SPDR Gold MiniShares Trust (GLDM) is 7.73%, while Cameco Corporation (CCO.TO) has a volatility of 17.58%. This indicates that GLDM experiences smaller price fluctuations and is considered to be less risky than CCO.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GLDM | CCO.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.73% | 17.58% | -9.85% |
Volatility (6M)Calculated over the trailing 6-month period | 23.93% | 38.85% | -14.92% |
Volatility (1Y)Calculated over the trailing 1-year period | 27.15% | 54.34% | -27.19% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.13% | 48.56% | -30.43% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.98% | 45.66% | -28.68% |
Dividends
GLDM vs. CCO.TO - Dividend Comparison
GLDM has not paid dividends to shareholders, while CCO.TO's dividend yield for the trailing twelve months is around 0.17%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CCO.TO Cameco Corporation | 0.17% | 0.19% | 0.22% | 0.21% | 0.39% | 0.29% | 0.47% | 0.69% | 0.52% | 3.45% | 2.85% | 2.34% |
GLDM SPDR Gold MiniShares Trust | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
GLDM and CCO.TO have a correlation of 0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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