GOLD.TO vs. ^XAU
GOLD.TO (GoldMining Inc.) is a stock, while ^XAU (Philadelphia Gold and Silver Index) is an index. Over the past 10 years, GOLD.TO returned 20.13%/yr vs 15.76%/yr for ^XAU. At a 0.39 correlation, their price movements are largely independent.
Performance
GOLD.TO vs. ^XAU - Performance Comparison
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Different Trading Currencies
GOLD.TO is traded in CAD, while ^XAU is traded in USD. To make them comparable, the ^XAU 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 ^XAU's 5.96% return. Over the past 10 years, GOLD.TO has outperformed ^XAU with an annualized return of 20.13%, while ^XAU has yielded a comparatively lower 15.76% 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%
^XAU
- 1D
- -3.01%
- 1M
- 4.97%
- YTD
- 5.96%
- 6M
- 12.18%
- 1Y
- 78.51%
- 3Y*
- 43.55%
- 5Y*
- 20.53%
- 10Y*
- 15.76%
GOLD.TO vs. ^XAU - 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% |
^XAU Philadelphia Gold and Silver Index | 5.96% | 138.07% | 18.52% | 1.71% | -2.25% | -8.97% | 32.58% | 43.88% | -10.11% | 1.24% |
Correlation
The correlation between GOLD.TO and ^XAU is 0.66, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.66 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.55 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.58 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.54 |
Correlation (All Time) Calculated using the full available price history since May 17, 2011 | 0.39 |
Over the past year, GOLD.TO and ^XAU have become more correlated (0.66) than their long-term average of 0.39, meaning their price movements have been converging.
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Return for Risk
GOLD.TO vs. ^XAU — Risk / Return Rank
GOLD.TO
^XAU
GOLD.TO vs. ^XAU - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for GoldMining Inc. (GOLD.TO) and Philadelphia Gold and Silver Index (^XAU). 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 | ^XAU | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.64 | 1.82 | -1.19 |
Sortino ratioReturn per unit of downside risk | 1.25 | 2.16 | -0.91 |
Omega ratioGain probability vs. loss probability | 1.16 | 1.30 | -0.14 |
Calmar ratioReturn relative to maximum drawdown | 0.81 | 2.65 | -1.84 |
Martin ratioReturn relative to average drawdown | 1.58 | 6.97 | -5.39 |
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 | ^XAU | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.64 | 1.82 | -1.19 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.48 | 0.62 | -0.14 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.35 | 0.46 | -0.11 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.26 | 0.21 | +0.05 |
Drawdowns
GOLD.TO vs. ^XAU - Drawdown Comparison
The maximum GOLD.TO drawdown since its inception was -76.83%, roughly equal to the maximum ^XAU drawdown of -75.39%. Use the drawdown chart below to compare losses from any high point for GOLD.TO and ^XAU.
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Drawdown Indicators
| GOLD.TO | ^XAU | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -76.83% | -75.39% | -1.44% |
Max Drawdown (1Y)Largest decline over 1 year | -50.00% | -29.81% | -20.19% |
Max Drawdown (3Y)Largest decline over 3 years | -50.00% | -29.81% | -20.19% |
Max Drawdown (5Y)Largest decline over 5 years | -50.00% | -41.09% | -8.91% |
Max Drawdown (10Y)Largest decline over 10 years | -76.83% | -45.32% | -31.51% |
Current DrawdownCurrent decline from peak | -48.63% | -22.44% | -26.19% |
Average DrawdownAverage peak-to-trough decline | -36.75% | -34.08% | -2.67% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 25.54% | 11.30% | +14.24% |
Volatility
GOLD.TO vs. ^XAU - Volatility Comparison
The current volatility for GoldMining Inc. (GOLD.TO) is 13.89%, while Philadelphia Gold and Silver Index (^XAU) has a volatility of 14.93%. This indicates that GOLD.TO experiences smaller price fluctuations and is considered to be less risky than ^XAU 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 | ^XAU | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 13.89% | 14.93% | -1.04% |
Volatility (6M)Calculated over the trailing 6-month period | 48.34% | 35.30% | +13.04% |
Volatility (1Y)Calculated over the trailing 1-year period | 63.58% | 43.26% | +20.32% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 55.19% | 33.54% | +21.65% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 57.68% | 34.17% | +23.51% |
Frequently Asked Questions
GOLD.TO and ^XAU have a correlation of 0.66, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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