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 7.69%/yr vs 4.08%/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 42.58% return, which is significantly higher than NVCR's 24.90% return. Over the past 10 years, GSG has outperformed NVCR with an annualized return of 7.69%, while NVCR has yielded a comparatively lower 4.08% annualized return.
GSG
- 1D
- 0.77%
- 1M
- -4.83%
- YTD
- 42.58%
- 6M
- 41.06%
- 1Y
- 51.52%
- 3Y*
- 19.31%
- 5Y*
- 15.74%
- 10Y*
- 7.69%
NVCR
- 1D
- 2.09%
- 1M
- -4.61%
- YTD
- 24.90%
- 6M
- 36.75%
- 1Y
- -5.22%
- 3Y*
- -41.22%
- 5Y*
- -39.88%
- 10Y*
- 4.08%
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 | 42.58% | 5.93% | 8.52% | -5.51% | 24.08% | 38.77% | -23.94% | 15.62% | -13.88% | 3.89% |
NVCR NovoCure Limited | 24.90% | -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 | -0.02 |
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 5, 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.
| GSG | NVCR | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.33 | ||
| Sortino ratioReturn per unit of downside risk | +2.42 | ||
| Omega ratioGain probability vs. loss probability | 1.40 | 1.06 | +0.35 |
| Calmar ratioReturn relative to maximum drawdown | 5.47 | -0.11 | +5.59 |
| Martin ratioReturn relative to average drawdown | 14.39 | -0.18 | +14.57 |
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
| GSG | NVCR | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.26 | -0.07 | +2.33 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.70 | -0.50 | +1.20 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.35 | 0.06 | +0.29 |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.09 | -0.02 | -0.07 |
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 | -9.46% | -45.67% | +36.21% |
Max Drawdown (3Y)Largest decline over 3 years | -14.94% | -87.84% | +72.90% |
Max Drawdown (5Y)Largest decline over 5 years | -29.12% | -95.55% | +66.43% |
Max Drawdown (10Y)Largest decline over 10 years | -57.64% | -95.55% | +37.91% |
Current DrawdownCurrent decline from peak | -56.95% | -92.84% | +35.89% |
Average DrawdownAverage peak-to-trough decline | -63.71% | -52.14% | -11.57% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.59% | 29.28% | -25.69% |
Volatility
GSG vs. NVCR - Volatility Comparison
The current volatility for iShares S&P GSCI Commodity-Indexed Trust (GSG) is 7.65%, while NovoCure Limited (NVCR) has a volatility of 15.37%. 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 | 7.65% | 15.37% | -7.72% |
Volatility (6M)Calculated over the trailing 6-month period | 20.42% | 57.54% | -37.12% |
Volatility (1Y)Calculated over the trailing 1-year period | 22.95% | 73.51% | -50.56% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.61% | 79.38% | -56.77% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.03% | 72.18% | -50.15% |
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 (15.37%) compared to GSG (7.65%). In terms of maximum drawdown, GSG dropped -89.62% vs NVCR's -95.55%.
GSG currently has the higher Sharpe Ratio (2.26 vs -0.07), 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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