NG vs. ^TNX
NG (NovaGold Resources Inc.) is a stock, while ^TNX (Cboe 10-Year Treasury Note Yield Index) is an index. Over the past 10 years, NG returned -1.98%/yr vs 11.93%/yr for ^TNX. Their -0.09 correlation means they have often moved in opposite directions in the past.
Performance
NG vs. ^TNX - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, NG achieves a -37.45% return, which is significantly lower than ^TNX's 13.98% return. Over the past 10 years, NG has underperformed ^TNX with an annualized return of -1.98%, while ^TNX has yielded a comparatively higher 11.93% annualized return.
NG
- 1D
- -3.95%
- 1M
- -9.47%
- 6M
- -33.22%
- YTD
- -37.45%
- 1Y
- 10.63%
- 3Y*
- 10.00%
- 5Y*
- -5.70%
- 10Y*
- -1.98%
- ALL TIME*
- 1.45%
^TNX
- 1D
- 1.76%
- 1M
- 5.80%
- 6M
- 11.88%
- YTD
- 13.98%
- 1Y
- 12.44%
- 3Y*
- 5.41%
- 5Y*
- 30.81%
- 10Y*
- 11.93%
- ALL TIME*
- -0.89%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $40.67M | $30.86M | $28.93M |
NG vs. ^TNX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
NG NovaGold Resources Inc. | -37.45% | 179.88% | -10.96% | -37.46% | -12.83% | -29.06% | 7.92% | 126.84% | 0.51% | -13.82% |
^TNX Cboe 10-Year Treasury Note Yield Index | 13.98% | -8.97% | 18.29% | -0.34% | 156.55% | 64.89% | -52.21% | -28.56% | 11.68% | -1.68% |
Correlation
The correlation between NG and ^TNX is -0.21, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.21 |
Correlation (3Y) Balances recent behavior with more history. | -0.19 |
Correlation (5Y) Shows whether the relationship held over a longer period. | -0.20 |
Correlation (10Y) Provides a long-term view across more market conditions. | -0.21 |
Correlation (All Time) Calculated using the full available price history since Dec 4, 2003 | -0.09 |
The correlation between NG and ^TNX shifts across timeframes, from -0.21 (10 years) to -0.09 (all time), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
NG vs. ^TNX — Risk / Return Rank
NG
^TNX
NG vs. ^TNX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for NovaGold Resources Inc. (NG) and Cboe 10-Year Treasury Note Yield Index (^TNX). 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.
| NG | ^TNX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.43 | ||
| Sortino ratioReturn per unit of downside risk | -0.17 | ||
| Omega ratioGain probability vs. loss probability | 1.10 | 1.11 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 0.20 | 0.99 | -0.80 |
| Martin ratioReturn relative to average drawdown | 0.41 | 2.04 | -1.63 |
Loading charts...
Drawdowns
NG vs. ^TNX - Drawdown Comparison
The maximum NG drawdown since its inception was -97.85%, roughly equal to the maximum ^TNX drawdown of -96.85%. Use the drawdown chart below to compare losses from any high point for NG and ^TNX.
Loading charts...
Drawdown Indicators
| NG | ^TNX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -97.85% | -96.85% | -1.00% |
Max Drawdown (1Y)Largest decline over 1 year | -63.52% | -8.94% | -54.58% |
Max Drawdown (3Y)Largest decline over 3 years | -63.52% | -27.41% | -36.11% |
Max Drawdown (5Y)Largest decline over 5 years | -72.20% | -27.41% | -44.79% |
Max Drawdown (10Y)Largest decline over 10 years | -81.22% | -84.57% | +3.35% |
Current DrawdownCurrent decline from peak | -65.88% | -70.04% | +4.16% |
Average DrawdownAverage peak-to-trough decline | -58.06% | -55.04% | -3.02% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 29.91% | 4.64% | +25.27% |
Volatility
NG vs. ^TNX - Volatility Comparison
NovaGold Resources Inc. (NG) has a higher volatility of 20.15% compared to Cboe 10-Year Treasury Note Yield Index (^TNX) at 3.64%. This indicates that NG's price experiences larger fluctuations and is considered to be riskier than ^TNX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| NG | ^TNX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 20.15% | 3.64% | +16.51% |
Volatility (6M)Calculated over the trailing 6-month period | 63.92% | 11.05% | +52.87% |
Volatility (1Y)Calculated over the trailing 1-year period | 75.33% | 14.89% | +60.44% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 60.66% | 31.23% | +29.43% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 56.30% | 47.62% | +8.68% |
Frequently Asked Questions
NG and ^TNX have a correlation of -0.21, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
NG has higher volatility (20.15%) compared to ^TNX (3.64%). In terms of maximum drawdown, NG dropped -97.85% vs ^TNX's -96.85%.
^TNX currently has the higher Sharpe Ratio (0.60 vs 0.16), 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.
Find the right allocation for NG and ^TNX
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer