GORO vs. EQX

Last updated Jun 23, 2026

GORO (Gold Resource Corporation) and EQX (Equinox Gold Corp.) are both stocks. Both operate in the Gold industry within the Basic Materials sector. Over the past 5 years, GORO returned -11.49%/yr vs 7.37%/yr for EQX. At a 0.48 correlation, their price movements are largely independent.

Performance

GORO vs. EQX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Gold Resource Corporation (GORO) and Equinox Gold Corp. (EQX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, GORO achieves a 60.63% return, which is significantly higher than EQX's -26.84% return.

GORO

• 1D: 0.00%
• 1M: 3.10%
• YTD: 60.63%
• 6M: 42.25%
• 1Y: 128.64%
• 3Y*: 21.58%
• 5Y*: -11.49%
• 10Y*: -8.45%

EQX

• 1D: -2.47%
• 1M: -15.50%
• YTD: -26.84%
• 6M: -31.06%
• 1Y: 70.92%
• 3Y*: 30.71%
• 5Y*: 7.37%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

GORO vs. EQX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
GORO Gold Resource Corporation	60.63%	259.84%	-38.80%	-75.42%	0.20%	-45.33%	-46.91%	39.34%	-30.43%
EQX Equinox Gold Corp.	-26.84%	179.68%	2.66%	49.09%	-51.48%	-34.62%	34.29%	106.43%	-4.97%

Correlation

The correlation between GORO and EQX is 0.47, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.47
Correlation (3Y) Calculated over the trailing 3-year period	0.42
Correlation (5Y) Calculated over the trailing 5-year period	0.47
Correlation (All Time) Calculated using the full available price history since Aug 3, 2018	0.48

Fundamentals

Market Cap GORO : $217.74M EQX : $8.46B
EPS GORO : $0.05 EQX : $0.89
PE Ratio GORO : 29.00 EQX : 11.51
PEG Ratio GORO : 0.86 EQX : 0.02
PS Ratio GORO : 2.36 EQX : 3.07
PB Ratio GORO : 4.46 EQX : 1.38
Total Revenue (TTM) GORO : $81.00M EQX : $2.29B
Gross Profit (TTM) GORO : $38.71M EQX : $866.94M
EBITDA (TTM) GORO : $43.09M EQX : $1.22B

Return for Risk

GORO vs. EQX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

GORO

GORO Risk / Return Rank: 79
GORO Sharpe Ratio Rank: 80
GORO Sortino Ratio Rank: 80
GORO Omega Ratio Rank: 76
GORO Calmar Ratio Rank: 83
GORO Martin Ratio Rank: 77

EQX

EQX Risk / Return Rank: 72
EQX Sharpe Ratio Rank: 77
EQX Sortino Ratio Rank: 71
EQX Omega Ratio Rank: 71
EQX Calmar Ratio Rank: 69
EQX Martin Ratio Rank: 74

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

GORO vs. EQX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Gold Resource Corporation (GORO) and Equinox Gold Corp. (EQX). 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.

	GORO	EQX	Difference
Sharpe ratio: Return per unit of total volatility	1.33	1.17	+0.17
Sortino ratio: Return per unit of downside risk	2.24	1.75	+0.49
Omega ratio: Gain probability vs. loss probability	1.26	1.22	+0.04
Calmar ratio: Return relative to maximum drawdown	2.92	1.48	+1.44
Martin ratio: Return relative to average drawdown	5.25	4.23	+1.03

GORO vs. EQX - Sharpe Ratio Comparison

The current GORO Sharpe Ratio is 1.33, which is comparable to the EQX Sharpe Ratio of 1.17. The chart below compares the historical Sharpe Ratios of GORO and EQX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

GORO vs. EQX - Drawdown Comparison

The maximum GORO drawdown since its inception was -99.48%, which is greater than EQX's maximum drawdown of -81.06%. Use the drawdown chart below to compare losses from any high point for GORO and EQX.

Drawdown Indicators

	GORO	EQX	Difference
Max Drawdown Largest peak-to-trough decline	-99.48%	-81.06%	-18.42%
Max Drawdown (1Y) Largest decline over 1 year	-44.27%	-48.02%	+3.75%
Max Drawdown (3Y) Largest decline over 3 years	-83.24%	-48.02%	-35.22%
Max Drawdown (5Y) Largest decline over 5 years	-95.07%	-71.57%	-23.50%
Max Drawdown (10Y) Largest decline over 10 years	-98.29%	—	—
Current Drawdown Current decline from peak	-94.47%	-45.25%	-49.22%
Average Drawdown Average peak-to-trough decline	-65.17%	-38.13%	-27.04%
Ulcer Index Depth and duration of drawdowns from previous peaks	24.59%	16.83%	+7.76%

Volatility

GORO vs. EQX - Volatility Comparison

The current volatility for Gold Resource Corporation (GORO) is 16.67%, while Equinox Gold Corp. (EQX) has a volatility of 21.68%. This indicates that GORO experiences smaller price fluctuations and is considered to be less risky than EQX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GORO	EQX	Difference
Volatility (1M) Calculated over the trailing 1-month period	16.67%	21.68%	-5.01%
Volatility (6M) Calculated over the trailing 6-month period	70.64%	49.02%	+21.62%
Volatility (1Y) Calculated over the trailing 1-year period	97.26%	61.16%	+36.10%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	93.04%	57.71%	+35.33%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	78.71%	55.59%	+23.12%

Dividends

GORO vs. EQX - Dividend Comparison

GORO has not paid dividends to shareholders, while EQX's dividend yield for the trailing twelve months is around 0.29%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EQX Equinox Gold Corp.	0.29%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
GORO Gold Resource Corporation	0.00%	0.00%	0.00%	0.00%	2.61%	2.78%	1.37%	0.42%	0.50%	0.45%	0.69%	7.23%

Financials

Frequently Asked Questions

Can I hold both GORO and EQX in my portfolio?

GORO and EQX have a correlation of 0.47, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, GORO or EQX?

EQX has higher volatility (21.68%) compared to GORO (16.67%). In terms of maximum drawdown, GORO dropped -99.48% vs EQX's -81.06%.

Which has better risk-adjusted returns?

GORO currently has the higher Sharpe Ratio (1.33 vs 1.17), 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.