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 -1.51%/yr vs -23.38%/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 -35.94% return, which is significantly lower than KOLD's -23.56% return. Over the past 10 years, NG has outperformed KOLD with an annualized return of -1.51%, while KOLD has yielded a comparatively lower -23.38% annualized return.
NG
- 1D
- -2.13%
- 1M
- -19.76%
- 6M
- -40.77%
- YTD
- -35.94%
- 1Y
- 24.37%
- 3Y*
- 12.08%
- 5Y*
- -6.53%
- 10Y*
- -1.51%
KOLD
- 1D
- 4.25%
- 1M
- 14.00%
- 6M
- -45.41%
- YTD
- -23.56%
- 1Y
- 1.05%
- 3Y*
- -2.38%
- 5Y*
- -33.63%
- 10Y*
- -23.38%
NG vs. KOLD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
NG NovaGold Resources Inc. | -35.94% | 179.88% | -10.96% | -37.46% | -12.83% | -29.06% | 7.92% | 126.84% | 0.51% | -13.82% |
KOLD ProShares UltraShort Bloomberg Natural Gas | -23.56% | -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 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 | -0.01 |
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 | +0.36 | ||
| Sortino ratioReturn per unit of downside risk | +0.16 | ||
| Omega ratioGain probability vs. loss probability | 1.13 | 1.11 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | 0.46 | -0.01 | +0.47 |
| Martin ratioReturn relative to average drawdown | 1.01 | -0.02 | +1.03 |
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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 | -58.45% | -72.50% | +14.05% |
Max Drawdown (3Y)Largest decline over 3 years | -58.45% | -84.34% | +25.89% |
Max Drawdown (5Y)Largest decline over 5 years | -72.23% | -97.82% | +25.59% |
Max Drawdown (10Y)Largest decline over 10 years | -81.22% | -99.45% | +18.23% |
Current DrawdownCurrent decline from peak | -65.06% | -96.88% | +31.82% |
Average DrawdownAverage peak-to-trough decline | -58.04% | -69.66% | +11.62% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 26.27% | 39.59% | -13.32% |
Volatility
NG vs. KOLD - Volatility Comparison
NovaGold Resources Inc. (NG) has a higher volatility of 24.35% compared to ProShares UltraShort Bloomberg Natural Gas (KOLD) at 19.69%. 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 | 24.35% | 19.69% | +4.66% |
Volatility (6M)Calculated over the trailing 6-month period | 64.00% | 94.00% | -30.00% |
Volatility (1Y)Calculated over the trailing 1-year period | 74.84% | 112.05% | -37.21% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 60.25% | 118.86% | -58.61% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 56.19% | 101.70% | -45.51% |
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 (24.35%) compared to KOLD (19.69%). In terms of maximum drawdown, NG dropped -97.85% vs KOLD's -99.45%.
NG currently has the higher Sharpe Ratio (0.36 vs -0.01), 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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