MGEE vs. GLD
MGEE (MGE Energy, Inc.) is a stock, while GLD (SPDR Gold Shares) is Gold fund tracking the LBMA Gold Price PM. Over the past 10 years, MGEE returned 5.68%/yr vs 11.05%/yr for GLD. Their 0.06 correlation means their historical movements had little consistent relationship.
Performance
MGEE vs. GLD - Performance Comparison
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Returns By Period
In the year-to-date period, MGEE achieves a 2.65% return, which is significantly higher than GLD's -6.25% return. Over the past 10 years, MGEE has underperformed GLD with an annualized return of 5.68%, while GLD has yielded a comparatively higher 11.05% annualized return.
MGEE
- 1D
- 0.04%
- 1M
- -5.58%
- 6M
- 0.77%
- YTD
- 2.65%
- 1Y
- -3.04%
- 3Y*
- 2.30%
- 5Y*
- 2.57%
- 10Y*
- 5.68%
- ALL TIME*
- 10.27%
GLD
- 1D
- -1.49%
- 1M
- -1.74%
- 6M
- -16.50%
- YTD
- -6.25%
- 1Y
- 20.20%
- 3Y*
- 27.22%
- 5Y*
- 16.95%
- 10Y*
- 11.05%
- ALL TIME*
- 10.28%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $2.38B | $2.40B | $2.72B | |
MGEE MGE Energy, Inc. | $16.16M | $16.12M | $24.64M |
MGEE vs. GLD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MGEE MGE Energy, Inc. | 2.65% | -14.75% | 32.80% | 5.10% | -12.57% | 19.90% | -9.30% | 34.04% | -2.90% | -1.48% |
GLD SPDR Gold Shares | -6.25% | 63.68% | 26.66% | 12.69% | -0.77% | -4.15% | 24.81% | 17.86% | -1.94% | 12.81% |
Correlation
The correlation between MGEE and GLD is -0.04, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.04 |
Correlation (3Y) Balances recent behavior with more history. | 0.09 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.10 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.07 |
Correlation (All Time) Calculated using the full available price history since Nov 18, 2004 | 0.06 |
The correlation between MGEE and GLD shifts across timeframes, from -0.04 (1 year) to 0.10 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
MGEE vs. GLD — Risk / Return Rank
MGEE
GLD
MGEE vs. GLD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for MGE Energy, Inc. (MGEE) and SPDR Gold Shares (GLD). 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.
| MGEE | GLD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.01 | ||
| Sortino ratioReturn per unit of downside risk | -1.29 | ||
| Omega ratioGain probability vs. loss probability | 0.98 | 1.17 | -0.18 |
| Calmar ratioReturn relative to maximum drawdown | -0.26 | 0.86 | -1.12 |
| Martin ratioReturn relative to average drawdown | -0.53 | 1.86 | -2.40 |
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Drawdowns
MGEE vs. GLD - Drawdown Comparison
The maximum MGEE drawdown since its inception was -33.91%, smaller than the maximum GLD drawdown of -45.56%. Use the drawdown chart below to compare losses from any high point for MGEE and GLD.
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Drawdown Indicators
| MGEE | GLD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.91% | -45.56% | +11.65% |
Max Drawdown (1Y)Largest decline over 1 year | -16.00% | -26.40% | +10.40% |
Max Drawdown (3Y)Largest decline over 3 years | -30.88% | -26.40% | -4.48% |
Max Drawdown (5Y)Largest decline over 5 years | -30.88% | -26.40% | -4.48% |
Max Drawdown (10Y)Largest decline over 10 years | -33.91% | -26.40% | -7.51% |
Current DrawdownCurrent decline from peak | -23.65% | -25.08% | +1.43% |
Average DrawdownAverage peak-to-trough decline | -7.70% | -16.21% | +8.51% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.81% | 12.18% | -4.37% |
Volatility
MGEE vs. GLD - Volatility Comparison
MGE Energy, Inc. (MGEE) and SPDR Gold Shares (GLD) have volatilities of 6.45% and 6.40%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MGEE | GLD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.45% | 6.40% | +0.05% |
Volatility (6M)Calculated over the trailing 6-month period | 17.08% | 23.52% | -6.44% |
Volatility (1Y)Calculated over the trailing 1-year period | 21.03% | 28.13% | -7.10% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 23.37% | 18.49% | +4.88% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 27.49% | 16.14% | +11.35% |
Dividends
MGEE vs. GLD - Dividend Comparison
MGEE's dividend yield for the trailing twelve months is around 2.39%, while GLD has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GLD SPDR Gold Shares | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
MGEE MGE Energy, Inc. | 2.39% | 2.36% | 1.87% | 2.31% | 2.26% | 1.84% | 2.06% | 1.75% | 2.20% | 2.00% | 1.85% | 2.49% |
Frequently Asked Questions
MGEE and GLD have a correlation of -0.04, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MGEE has higher volatility (6.45%) compared to GLD (6.40%). In terms of maximum drawdown, MGEE dropped -33.91% vs GLD's -45.56%.
GLD currently has the higher Sharpe Ratio (0.81 vs -0.20), 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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