GROY vs. GORO

Last updated Jun 3, 2026

GROY (Gold Royalty Corp.) and GORO (Gold Resource Corporation) are both stocks. Both are in the Basic Materials sector — GROY in Other Precious Metals & Mining, GORO in Gold. Over the past 5 years, GROY returned -7.14%/yr vs -13.07%/yr for GORO. At a 0.37 correlation, their price movements are largely independent.

Performance

GROY vs. GORO - Performance Comparison

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

Returns By Period

In the year-to-date period, GROY achieves a -20.30% return, which is significantly lower than GORO's 63.04% return.

GROY

• 1D: 2.22%
• 1M: -6.40%
• YTD: -20.30%
• 6M: -22.97%
• 1Y: 68.59%
• 3Y*: 18.01%
• 5Y*: -7.14%
• 10Y*: —

GORO

• 1D: 3.05%
• 1M: -4.26%
• YTD: 63.04%
• 6M: 84.98%
• 1Y: 116.42%
• 3Y*: 18.09%
• 5Y*: -13.07%
• 10Y*: -8.17%

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

GROY vs. GORO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
GROY Gold Royalty Corp.	-20.30%	233.88%	-17.69%	-36.27%	-51.98%	37.43%
GORO Gold Resource Corporation	63.04%	259.84%	-38.80%	-75.42%	0.20%	-40.78%

Correlation

The correlation between GROY and GORO is 0.50, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.50
Correlation (3Y) Calculated over the trailing 3-year period	0.38
Correlation (5Y) Calculated over the trailing 5-year period	0.38
Correlation (All Time) Calculated using the full available price history since Mar 10, 2021	0.37

The correlation between GROY and GORO shifts across timeframes, from 0.37 (all time) to 0.50 (1 year), reflecting how their relationship changes across market environments.

Fundamentals

Market Cap GROY : $775.86M GORO : $221.02M
EPS GROY : -$0.01 GORO : $0.05
PS Ratio GROY : 33.06 GORO : 2.40
PB Ratio GROY : 1.07 GORO : 4.53
Total Revenue (TTM) GROY : $19.65M GORO : $81.00M
Gross Profit (TTM) GROY : $14.42M GORO : $38.71M
EBITDA (TTM) GROY : $9.22M GORO : $43.09M

Return for Risk

GROY vs. GORO — Risk / Return Rank

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

GROY

GROY Risk / Return Rank: 72
GROY Sharpe Ratio Rank: 76
GROY Sortino Ratio Rank: 71
GROY Omega Ratio Rank: 68
GROY Calmar Ratio Rank: 72
GROY Martin Ratio Rank: 71

GORO

GORO Risk / Return Rank: 78
GORO Sharpe Ratio Rank: 75
GORO Sortino Ratio Rank: 77
GORO Omega Ratio Rank: 72
GORO Calmar Ratio Rank: 85
GORO Martin Ratio Rank: 79

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.

GROY vs. GORO - Risk-Adjusted Trends Comparison

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

	GROY	GORO	Difference
Sharpe ratio Return per unit of total volatility	1.23	1.21	+0.02
Sortino ratio Return per unit of downside risk	1.79	2.15	-0.36
Omega ratio Gain probability vs. loss probability	1.22	1.24	-0.02
Calmar ratio Return relative to maximum drawdown	1.85	3.49	-1.65
Martin ratio Return relative to average drawdown	4.21	6.49	-2.28
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

GROY vs. GORO - Sharpe Ratio Comparison

The current GROY Sharpe Ratio is 1.23, which is comparable to the GORO Sharpe Ratio of 1.21. The chart below compares the historical Sharpe Ratios of GROY and GORO, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	GROY	GORO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.23	1.21	+0.02
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.12	-0.14	+0.02
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	-0.10	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.03	0.03	-0.06

Drawdowns

GROY vs. GORO - Drawdown Comparison

The maximum GROY drawdown since its inception was -82.01%, smaller than the maximum GORO drawdown of -99.48%. Use the drawdown chart below to compare losses from any high point for GROY and GORO.

Drawdown Indicators

	GROY	GORO	Difference
Max Drawdown Largest peak-to-trough decline	-82.01%	-99.48%	+17.47%
Max Drawdown (1Y) Largest decline over 1 year	-40.12%	-44.27%	+4.15%
Max Drawdown (3Y) Largest decline over 3 years	-45.58%	-85.50%	+39.92%
Max Drawdown (5Y) Largest decline over 5 years	-82.01%	-95.67%	+13.66%
Max Drawdown (10Y) Largest decline over 10 years	—	-98.29%	—
Current Drawdown Current decline from peak	-50.48%	-94.39%	+43.91%
Average Drawdown Average peak-to-trough decline	-55.83%	-65.08%	+9.25%
Ulcer Index Depth and duration of drawdowns from previous peaks	17.57%	23.82%	-6.25%

Volatility

GROY vs. GORO - Volatility Comparison

The current volatility for Gold Royalty Corp. (GROY) is 13.50%, while Gold Resource Corporation (GORO) has a volatility of 18.23%. This indicates that GROY experiences smaller price fluctuations and is considered to be less risky than GORO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GROY	GORO	Difference
Volatility (1M) Calculated over the trailing 1-month period	13.50%	18.23%	-4.73%
Volatility (6M) Calculated over the trailing 6-month period	37.75%	70.89%	-33.14%
Volatility (1Y) Calculated over the trailing 1-year period	56.07%	98.39%	-42.32%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	58.53%	92.93%	-34.40%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	59.55%	78.65%	-19.10%

Dividends

GROY vs. GORO - Dividend Comparison

Neither GROY nor GORO has paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
GROY Gold Royalty Corp.	0.00%	0.00%	0.00%	1.36%	1.72%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Financials

Frequently Asked Questions

Can I hold both GROY and GORO in my portfolio?

GROY and GORO have a correlation of 0.50, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, GROY or GORO?

GORO has higher volatility (18.23%) compared to GROY (13.50%). In terms of maximum drawdown, GROY dropped -82.01% vs GORO's -99.48%.

Which has better risk-adjusted returns?

GROY currently has the higher Sharpe Ratio (1.23 vs 1.21), 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.