GOLD.TO vs. ^TNX
GOLD.TO (GoldMining Inc.) is a stock, while ^TNX (Treasury Yield 10 Years) is an index. Over the past 10 years, GOLD.TO returned 20.13%/yr vs 10.97%/yr for ^TNX. At a correlation of -0.14, 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 -12.79% return, which is significantly lower than ^TNX's 9.25% return. Over the past 10 years, GOLD.TO has outperformed ^TNX with an annualized return of 20.13%, while ^TNX has yielded a comparatively lower 10.97% annualized return.
GOLD.TO
- 1D
- -3.85%
- 1M
- -6.25%
- YTD
- -12.79%
- 6M
- -25.00%
- 1Y
- 40.19%
- 3Y*
- 23.02%
- 5Y*
- 26.13%
- 10Y*
- 20.13%
^TNX
- 1D
- 1.22%
- 1M
- 3.03%
- YTD
- 9.25%
- 6M
- 10.27%
- 1Y
- 1.99%
- 3Y*
- 8.00%
- 5Y*
- 27.08%
- 10Y*
- 10.97%
GOLD.TO vs. ^TNX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
GOLD.TO GoldMining Inc. | -12.79% | 49.57% | 26.55% | 17.53% | 59.76% | -12.88% | 140.75% | 93.82% | -41.35% | -34.16% |
^TNX Treasury Yield 10 Years | 9.25% | -13.14% | 28.45% | -2.53% | 174.83% | 63.40% | -53.02% | -32.07% | 21.16% | -7.94% |
Correlation
The correlation between GOLD.TO and ^TNX is -0.21, 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 | -0.21 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.20 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.18 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.21 |
Correlation (All Time) Calculated using the full available price history since May 17, 2011 | -0.14 |
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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 Treasury Yield 10 Years (^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.
| GOLD.TO | ^TNX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.64 | 0.12 | +0.52 |
Sortino ratioReturn per unit of downside risk | 1.25 | 0.29 | +0.96 |
Omega ratioGain probability vs. loss probability | 1.16 | 1.03 | +0.13 |
Calmar ratioReturn relative to maximum drawdown | 0.81 | 0.16 | +0.65 |
Martin ratioReturn relative to average drawdown | 1.58 | 0.32 | +1.26 |
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
| GOLD.TO | ^TNX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.64 | 0.12 | +0.52 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.48 | 0.82 | -0.34 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.35 | 0.23 | +0.12 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.26 | 0.05 | +0.21 |
Drawdowns
GOLD.TO vs. ^TNX - Drawdown Comparison
The maximum GOLD.TO drawdown since its inception was -76.83%, smaller than the maximum ^TNX drawdown of -83.97%. 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 | -76.83% | -83.97% | +7.14% |
Max Drawdown (1Y)Largest decline over 1 year | -50.00% | -12.47% | -37.53% |
Max Drawdown (3Y)Largest decline over 3 years | -50.00% | -28.10% | -21.90% |
Max Drawdown (5Y)Largest decline over 5 years | -50.00% | -28.10% | -21.90% |
Max Drawdown (10Y)Largest decline over 10 years | -76.83% | -83.93% | +7.10% |
Current DrawdownCurrent decline from peak | -48.63% | -9.63% | -39.00% |
Average DrawdownAverage peak-to-trough decline | -36.75% | -32.52% | -4.23% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 25.54% | 6.24% | +19.30% |
Volatility
GOLD.TO vs. ^TNX - Volatility Comparison
GoldMining Inc. (GOLD.TO) has a higher volatility of 13.89% compared to Treasury Yield 10 Years (^TNX) at 5.28%. 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 | 13.89% | 5.28% | +8.61% |
Volatility (6M)Calculated over the trailing 6-month period | 48.34% | 11.60% | +36.74% |
Volatility (1Y)Calculated over the trailing 1-year period | 63.58% | 17.01% | +46.57% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 55.19% | 33.42% | +21.77% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 57.68% | 48.26% | +9.42% |
Frequently Asked Questions
GOLD.TO and ^TNX have a correlation of -0.21, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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