NG vs. TLT
NG (NovaGold Resources Inc.) is a stock, while TLT (iShares 20+ Year Treasury Bond ETF) is Government Bonds fund tracking the ICE U.S. Treasury 20+ Year Bond Index. Over the past 10 years, NG returned 3.19%/yr vs -1.66%/yr for TLT. At a 0.06 correlation, their price movements are largely independent.
Performance
NG vs. TLT - Performance Comparison
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Returns By Period
In the year-to-date period, NG achieves a -13.63% return, which is significantly lower than TLT's -0.27% return. Over the past 10 years, NG has outperformed TLT with an annualized return of 3.19%, while TLT has yielded a comparatively lower -1.66% annualized return.
NG
- 1D
- -3.94%
- 1M
- 1.26%
- YTD
- -13.63%
- 6M
- -18.93%
- 1Y
- 113.53%
- 3Y*
- 15.61%
- 5Y*
- -4.66%
- 10Y*
- 3.19%
TLT
- 1D
- -0.40%
- 1M
- 0.81%
- YTD
- -0.27%
- 6M
- -2.02%
- 1Y
- 4.93%
- 3Y*
- -1.80%
- 5Y*
- -6.31%
- 10Y*
- -1.66%
NG vs. TLT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
NG NovaGold Resources Inc. | -13.63% | 179.88% | -10.96% | -37.46% | -12.83% | -29.06% | 7.92% | 126.84% | 0.51% | -13.82% |
TLT iShares 20+ Year Treasury Bond ETF | -0.27% | 4.25% | -8.05% | 2.77% | -31.23% | -4.60% | 18.15% | 14.12% | -1.61% | 9.18% |
Correlation
The correlation between NG and TLT is 0.11, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.11 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.16 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.14 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.17 |
Correlation (All Time) Calculated using the full available price history since Dec 5, 2003 | 0.06 |
The correlation between NG and TLT shifts across timeframes, from 0.06 (all time) to 0.17 (10 years), reflecting how their relationship changes across market environments.
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Return for Risk
NG vs. TLT — Risk / Return Rank
NG
TLT
NG vs. TLT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for NovaGold Resources Inc. (NG) and iShares 20+ Year Treasury Bond ETF (TLT). 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.
| NG | TLT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.98 | ||
| Sortino ratioReturn per unit of downside risk | +1.32 | ||
| Omega ratioGain probability vs. loss probability | 1.28 | 1.09 | +0.19 |
| Calmar ratioReturn relative to maximum drawdown | 2.51 | 0.65 | +1.85 |
| Martin ratioReturn relative to average drawdown | 5.48 | 1.63 | +3.85 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| NG | TLT | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.49 | 0.51 | +0.98 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.08 | -0.40 | +0.32 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.06 | -0.11 | +0.17 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.04 | 0.26 | -0.21 |
Drawdowns
NG vs. TLT - Drawdown Comparison
The maximum NG drawdown since its inception was -97.85%, which is greater than TLT's maximum drawdown of -48.35%. Use the drawdown chart below to compare losses from any high point for NG and TLT.
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Drawdown Indicators
| NG | TLT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -97.85% | -48.35% | -49.50% |
Max Drawdown (1Y)Largest decline over 1 year | -45.56% | -7.58% | -37.98% |
Max Drawdown (3Y)Largest decline over 3 years | -57.38% | -19.18% | -38.20% |
Max Drawdown (5Y)Largest decline over 5 years | -77.69% | -43.70% | -33.99% |
Max Drawdown (10Y)Largest decline over 10 years | -81.22% | -48.35% | -32.87% |
Current DrawdownCurrent decline from peak | -52.88% | -40.44% | -12.44% |
Average DrawdownAverage peak-to-trough decline | -58.04% | -13.82% | -44.22% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 20.80% | 3.04% | +17.76% |
Volatility
NG vs. TLT - Volatility Comparison
NovaGold Resources Inc. (NG) has a higher volatility of 21.88% compared to iShares 20+ Year Treasury Bond ETF (TLT) at 2.76%. This indicates that NG's price experiences larger fluctuations and is considered to be riskier than TLT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| NG | TLT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 21.88% | 2.76% | +19.12% |
Volatility (6M)Calculated over the trailing 6-month period | 59.51% | 6.50% | +53.01% |
Volatility (1Y)Calculated over the trailing 1-year period | 76.73% | 9.77% | +66.96% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 59.44% | 15.87% | +43.57% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 55.81% | 14.91% | +40.90% |
Dividends
NG vs. TLT - Dividend Comparison
NG has not paid dividends to shareholders, while TLT's dividend yield for the trailing twelve months is around 4.59%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
NG NovaGold Resources Inc. | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
TLT iShares 20+ Year Treasury Bond ETF | 4.59% | 4.43% | 4.30% | 3.38% | 2.67% | 1.50% | 1.50% | 2.27% | 2.63% | 2.43% | 2.60% | 2.61% |
Frequently Asked Questions
NG and TLT have a correlation of 0.11, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
NG has higher volatility (21.88%) compared to TLT (2.76%). In terms of maximum drawdown, NG dropped -97.85% vs TLT's -48.35%.
NG currently has the higher Sharpe Ratio (1.49 vs 0.51), 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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