NG vs. KOLD
NG (NovaGold Resources Inc.) is a stock, while KOLD (ProShares UltraShort Bloomberg Natural Gas) is Oil & Gas fund tracking the Bloomberg Natural Gas Subindex. Over the past 10 years, NG returned -1.98%/yr vs -22.29%/yr for KOLD. Their -0.01 correlation means they have often moved in opposite directions in the past.
Performance
NG vs. KOLD - Performance Comparison
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Returns By Period
In the year-to-date period, NG achieves a -37.45% return, which is significantly lower than KOLD's -16.81% return. Over the past 10 years, NG has outperformed KOLD with an annualized return of -1.98%, while KOLD has yielded a comparatively lower -22.29% 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%
KOLD
- 1D
- -1.11%
- 1M
- 25.17%
- 6M
- 116.05%
- YTD
- -16.81%
- 1Y
- -4.80%
- 3Y*
- -1.53%
- 5Y*
- -30.36%
- 10Y*
- -22.29%
- ALL TIME*
- -11.66%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $57.12M | $61.92M | $74.91M | |
| $40.67M | $30.86M | $28.93M |
NG vs. KOLD - 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% |
KOLD ProShares UltraShort Bloomberg Natural Gas | -16.81% | -17.48% | -11.34% | 249.82% | -88.62% | -74.44% | 22.05% | 82.94% | -46.48% | 72.02% |
Correlation
The correlation between NG and KOLD is -0.01, 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. | -0.01 |
Correlation (3Y) Balances recent behavior with more history. | -0.01 |
Correlation (5Y) Shows whether the relationship held over a longer period. | -0.02 |
Correlation (10Y) Provides a long-term view across more market conditions. | -0.00 |
Correlation (All Time) Calculated using the full available price history since Oct 6, 2011 | -0.01 |
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Return for Risk
NG vs. KOLD — Risk / Return Rank
NG
KOLD
NG vs. KOLD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for NovaGold Resources Inc. (NG) and ProShares UltraShort Bloomberg Natural Gas (KOLD). 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 | KOLD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.21 | ||
| Sortino ratioReturn per unit of downside risk | +0.01 | ||
| Omega ratioGain probability vs. loss probability | 1.10 | 1.10 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 0.20 | -0.07 | +0.26 |
| Martin ratioReturn relative to average drawdown | 0.41 | -0.12 | +0.54 |
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Drawdowns
NG vs. KOLD - Drawdown Comparison
The maximum NG drawdown since its inception was -97.85%, roughly equal to the maximum KOLD drawdown of -99.45%. Use the drawdown chart below to compare losses from any high point for NG and KOLD.
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Drawdown Indicators
| NG | KOLD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -97.85% | -99.45% | +1.60% |
Max Drawdown (1Y)Largest decline over 1 year | -63.52% | -72.50% | +8.98% |
Max Drawdown (3Y)Largest decline over 3 years | -63.52% | -84.34% | +20.82% |
Max Drawdown (5Y)Largest decline over 5 years | -72.20% | -97.46% | +25.26% |
Max Drawdown (10Y)Largest decline over 10 years | -81.22% | -99.45% | +18.23% |
Current DrawdownCurrent decline from peak | -65.88% | -96.60% | +30.72% |
Average DrawdownAverage peak-to-trough decline | -58.06% | -69.77% | +11.71% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 29.91% | 40.92% | -11.01% |
Volatility
NG vs. KOLD - Volatility Comparison
NovaGold Resources Inc. (NG) has a higher volatility of 20.15% compared to ProShares UltraShort Bloomberg Natural Gas (KOLD) at 17.96%. This indicates that NG's price experiences larger fluctuations and is considered to be riskier than KOLD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| NG | KOLD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 20.15% | 17.96% | +2.19% |
Volatility (6M)Calculated over the trailing 6-month period | 63.92% | 71.96% | -8.04% |
Volatility (1Y)Calculated over the trailing 1-year period | 75.33% | 110.38% | -35.05% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 60.66% | 118.81% | -58.15% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 56.30% | 101.60% | -45.30% |
Dividends
NG vs. KOLD - Dividend Comparison
Neither NG nor KOLD has paid dividends to shareholders.
Frequently Asked Questions
NG and KOLD have a correlation of -0.01, 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 KOLD (17.96%). In terms of maximum drawdown, NG dropped -97.85% vs KOLD's -99.45%.
NG currently has the higher Sharpe Ratio (0.16 vs -0.05), 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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