GOLD.TO vs. ^TNX
GOLD.TO (GoldMining Inc.) is a stock, while ^TNX (Cboe 10-Year Treasury Note Yield Index) is an index. Over the past 5 years, GOLD.TO returned -6.01%/yr vs 31.77%/yr for ^TNX. At a correlation of -0.16, they often move in opposite directions.
Performance
GOLD.TO vs. ^TNX - Performance Comparison
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Different Trading Currencies
GOLD.TO is traded in CAD, while ^TNX is traded in USD. To make them comparable, the ^TNX values have been converted to CAD using the latest available exchange rates.
Returns By Period
In the year-to-date period, GOLD.TO achieves a -29.65% return, which is significantly lower than ^TNX's 13.07% return.
GOLD.TO
- 1D
- 3.42%
- 1M
- -6.20%
- 6M
- -45.50%
- YTD
- -29.65%
- 1Y
- 15.24%
- 3Y*
- -0.81%
- 5Y*
- -6.01%
- 10Y*
- —
- ALL TIME*
- 2.40%
^TNX
- 1D
- 1.13%
- 1M
- 2.71%
- 6M
- 9.70%
- YTD
- 13.07%
- 1Y
- 5.88%
- 3Y*
- 8.44%
- 5Y*
- 31.77%
- 10Y*
- 12.12%
- ALL TIME*
- 0.48%
GOLD.TO vs. ^TNX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
GOLD.TO GoldMining Inc. | -29.65% | 49.57% | -11.54% | -15.58% | 0.65% | -44.77% | 108.27% | 70.51% | -22.00% |
^TNX Cboe 10-Year Treasury Note Yield Index | 13.07% | -13.12% | 28.30% | -2.71% | 172.80% | 64.80% | -53.35% | -31.50% | -2.31% |
Correlation
The correlation between GOLD.TO and ^TNX is -0.20, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.20 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.15 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.15 |
Correlation (All Time) Calculated using the full available price history since Jul 10, 2018 | -0.16 |
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Return for Risk
GOLD.TO vs. ^TNX — Risk / Return Rank
GOLD.TO
^TNX
GOLD.TO vs. ^TNX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for GoldMining Inc. (GOLD.TO) and Cboe 10-Year Treasury Note Yield Index (^TNX). 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.
| GOLD.TO | ^TNX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.15 | ||
| Sortino ratioReturn per unit of downside risk | +0.14 | ||
| Omega ratioGain probability vs. loss probability | 1.10 | 1.07 | +0.03 |
| Calmar ratioReturn relative to maximum drawdown | 0.25 | 0.56 | -0.31 |
| Martin ratioReturn relative to average drawdown | 0.47 | 1.23 | -0.76 |
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Drawdowns
GOLD.TO vs. ^TNX - Drawdown Comparison
The maximum GOLD.TO drawdown since its inception was -74.14%, smaller than the maximum ^TNX drawdown of -89.94%. Use the drawdown chart below to compare losses from any high point for GOLD.TO and ^TNX.
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Drawdown Indicators
| GOLD.TO | ^TNX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -74.14% | -89.94% | +15.80% |
Max Drawdown (1Y)Largest decline over 1 year | -60.27% | -10.53% | -49.74% |
Max Drawdown (3Y)Largest decline over 3 years | -60.27% | -28.13% | -32.14% |
Max Drawdown (5Y)Largest decline over 5 years | -60.32% | -28.13% | -32.19% |
Max Drawdown (10Y)Largest decline over 10 years | — | -83.97% | — |
Current DrawdownCurrent decline from peak | -68.07% | -6.90% | -61.17% |
Average DrawdownAverage peak-to-trough decline | -46.47% | -44.63% | -1.84% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 32.31% | 5.15% | +27.16% |
Volatility
GOLD.TO vs. ^TNX - Volatility Comparison
GoldMining Inc. (GOLD.TO) has a higher volatility of 13.72% compared to Cboe 10-Year Treasury Note Yield Index (^TNX) at 4.38%. This indicates that GOLD.TO's price experiences larger fluctuations and is considered to be riskier than ^TNX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GOLD.TO | ^TNX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 13.72% | 4.38% | +9.34% |
Volatility (6M)Calculated over the trailing 6-month period | 50.99% | 11.80% | +39.19% |
Volatility (1Y)Calculated over the trailing 1-year period | 67.12% | 15.46% | +51.66% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 51.90% | 32.06% | +19.84% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 54.98% | 48.34% | +6.64% |
Frequently Asked Questions
GOLD.TO and ^TNX have a correlation of -0.20, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
Find the right allocation for GOLD.TO and ^TNX
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