GSG vs. NVCR
GSG (iShares S&P GSCI Commodity-Indexed Trust) is Commodities fund tracking the S&P GSCI Total Return Index, while NVCR (NovoCure Limited) is a stock. Over the past 10 years, GSG returned 6.27%/yr vs 3.44%/yr for NVCR. At a 0.08 correlation, their price movements are largely independent.
Performance
GSG vs. NVCR - Performance Comparison
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Returns By Period
In the year-to-date period, GSG achieves a 23.11% return, which is significantly higher than NVCR's 19.33% return. Over the past 10 years, GSG has outperformed NVCR with an annualized return of 6.27%, while NVCR has yielded a comparatively lower 3.44% annualized return.
GSG
- 1D
- -1.70%
- 1M
- -11.06%
- YTD
- 23.11%
- 6M
- 22.27%
- 1Y
- 28.29%
- 3Y*
- 13.87%
- 5Y*
- 12.31%
- 10Y*
- 6.27%
NVCR
- 1D
- 2.52%
- 1M
- -9.18%
- YTD
- 19.33%
- 6M
- 14.47%
- 1Y
- -9.77%
- 3Y*
- -27.75%
- 5Y*
- -41.29%
- 10Y*
- 3.44%
GSG vs. NVCR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
GSG iShares S&P GSCI Commodity-Indexed Trust | 23.11% | 5.93% | 8.52% | -5.51% | 24.08% | 38.77% | -23.94% | 15.62% | -13.88% | 3.89% |
NVCR NovoCure Limited | 19.33% | -56.61% | 99.60% | -79.65% | -2.30% | -56.61% | 105.34% | 151.70% | 65.74% | 157.32% |
Correlation
The correlation between GSG and NVCR is -0.16, 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 | -0.16 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.03 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.03 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.08 |
Correlation (All Time) Calculated using the full available price history since Oct 2, 2015 | 0.08 |
The correlation between GSG and NVCR shifts across timeframes, from -0.16 (1 year) to 0.08 (10 years), reflecting how their relationship changes across market environments.
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Return for Risk
GSG vs. NVCR — Risk / Return Rank
GSG
NVCR
GSG vs. NVCR - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares S&P GSCI Commodity-Indexed Trust (GSG) and NovoCure Limited (NVCR). 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.
| GSG | NVCR | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.36 | ||
| Sortino ratioReturn per unit of downside risk | +1.38 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 1.05 | +0.18 |
| Calmar ratioReturn relative to maximum drawdown | 1.51 | -0.21 | +1.73 |
| Martin ratioReturn relative to average drawdown | 6.38 | -0.33 | +6.71 |
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Drawdowns
GSG vs. NVCR - Drawdown Comparison
The maximum GSG drawdown since its inception was -89.62%, smaller than the maximum NVCR drawdown of -95.55%. Use the drawdown chart below to compare losses from any high point for GSG and NVCR.
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Drawdown Indicators
| GSG | NVCR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -89.62% | -95.55% | +5.93% |
Max Drawdown (1Y)Largest decline over 1 year | -18.81% | -45.67% | +26.86% |
Max Drawdown (3Y)Largest decline over 3 years | -18.81% | -76.32% | +57.51% |
Max Drawdown (5Y)Largest decline over 5 years | -29.12% | -95.52% | +66.40% |
Max Drawdown (10Y)Largest decline over 10 years | -57.64% | -95.55% | +37.91% |
Current DrawdownCurrent decline from peak | -62.83% | -93.16% | +30.33% |
Average DrawdownAverage peak-to-trough decline | -63.69% | -52.37% | -11.32% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.45% | 29.46% | -25.01% |
Volatility
GSG vs. NVCR - Volatility Comparison
The current volatility for iShares S&P GSCI Commodity-Indexed Trust (GSG) is 6.28%, while NovoCure Limited (NVCR) has a volatility of 28.96%. This indicates that GSG experiences smaller price fluctuations and is considered to be less risky than NVCR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GSG | NVCR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.28% | 28.96% | -22.68% |
Volatility (6M)Calculated over the trailing 6-month period | 21.12% | 62.07% | -40.95% |
Volatility (1Y)Calculated over the trailing 1-year period | 23.00% | 76.77% | -53.77% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.72% | 80.20% | -57.48% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.03% | 72.19% | -50.16% |
Dividends
GSG vs. NVCR - Dividend Comparison
Neither GSG nor NVCR has paid dividends to shareholders.
Frequently Asked Questions
GSG and NVCR have a correlation of -0.16, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
NVCR has higher volatility (28.96%) compared to GSG (6.28%). In terms of maximum drawdown, GSG dropped -89.62% vs NVCR's -95.55%.
GSG currently has the higher Sharpe Ratio (1.24 vs -0.13), 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.
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