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 1.68%/yr vs -25.09%/yr for KOLD. At a correlation of -0.01, they often move in opposite directions.
Performance
NG vs. KOLD - Performance Comparison
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Returns By Period
In the year-to-date period, NG achieves a -18.88% return, which is significantly higher than KOLD's -37.17% return. Over the past 10 years, NG has outperformed KOLD with an annualized return of 1.68%, while KOLD has yielded a comparatively lower -25.09% annualized return.
NG
- 1D
- -3.08%
- 1M
- -2.20%
- YTD
- -18.88%
- 6M
- -25.00%
- 1Y
- 82.61%
- 3Y*
- 18.18%
- 5Y*
- -1.83%
- 10Y*
- 1.68%
KOLD
- 1D
- -0.18%
- 1M
- -14.27%
- YTD
- -37.17%
- 6M
- -42.50%
- 1Y
- 9.00%
- 3Y*
- -6.55%
- 5Y*
- -38.86%
- 10Y*
- -25.09%
NG vs. KOLD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
NG NovaGold Resources Inc. | -18.88% | 179.88% | -10.96% | -37.46% | -12.83% | -29.06% | 7.92% | 126.84% | 0.51% | -13.82% |
KOLD ProShares UltraShort Bloomberg Natural Gas | -37.17% | -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 -0.02, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.02 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.01 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.02 |
Correlation (10Y) Calculated over the trailing 10-year period | -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 | +1.04 | ||
| Sortino ratioReturn per unit of downside risk | +0.79 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 1.13 | +0.10 |
| Calmar ratioReturn relative to maximum drawdown | 1.59 | 0.12 | +1.47 |
| Martin ratioReturn relative to average drawdown | 3.61 | 0.24 | +3.37 |
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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 | -52.11% | -72.50% | +20.39% |
Max Drawdown (3Y)Largest decline over 3 years | -52.30% | -84.34% | +32.04% |
Max Drawdown (5Y)Largest decline over 5 years | -73.33% | -98.07% | +24.74% |
Max Drawdown (10Y)Largest decline over 10 years | -81.22% | -99.45% | +18.23% |
Current DrawdownCurrent decline from peak | -55.75% | -97.43% | +41.68% |
Average DrawdownAverage peak-to-trough decline | -58.02% | -69.56% | +11.54% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 22.98% | 37.81% | -14.83% |
Volatility
NG vs. KOLD - Volatility Comparison
The current volatility for NovaGold Resources Inc. (NG) is 21.07%, while ProShares UltraShort Bloomberg Natural Gas (KOLD) has a volatility of 23.90%. This indicates that NG experiences smaller price fluctuations and is considered to be less risky 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 | 21.07% | 23.90% | -2.83% |
Volatility (6M)Calculated over the trailing 6-month period | 61.86% | 96.77% | -34.91% |
Volatility (1Y)Calculated over the trailing 1-year period | 74.33% | 113.49% | -39.16% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 59.81% | 118.83% | -59.02% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 56.05% | 101.81% | -45.76% |
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 -0.02, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
KOLD has higher volatility (23.90%) compared to NG (21.07%). In terms of maximum drawdown, NG dropped -97.85% vs KOLD's -99.45%.
NG currently has the higher Sharpe Ratio (1.12 vs 0.08), 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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