NRG vs. GLD

Last updated Jun 16, 2026

NRG (NRG Energy, Inc.) is a stock, while GLD (SPDR Gold Shares) is Gold fund tracking the LBMA Gold Price PM. Over the past 10 years, NRG returned 27.25%/yr vs 12.33%/yr for GLD. At a 0.09 correlation, their price movements are largely independent.

Performance

NRG vs. GLD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in NRG Energy, Inc. (NRG) and SPDR Gold Shares (GLD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, NRG achieves a -17.60% return, which is significantly lower than GLD's 0.06% return. Over the past 10 years, NRG has outperformed GLD with an annualized return of 27.25%, while GLD has yielded a comparatively lower 12.33% annualized return.

NRG

• 1D: 3.93%
• 1M: 2.03%
• YTD: -17.60%
• 6M: -17.99%
• 1Y: -13.25%
• 3Y*: 59.60%
• 5Y*: 32.24%
• 10Y*: 27.25%

GLD

• 1D: 2.59%
• 1M: -4.97%
• YTD: 0.06%
• 6M: 0.19%
• 1Y: 25.38%
• 3Y*: 29.73%
• 5Y*: 18.31%
• 10Y*: 12.33%

*Multi-year figures are annualized to reflect compound growth (CAGR)

NRG vs. GLD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
NRG NRG Energy, Inc.	-17.60%	78.91%	78.58%	69.36%	-23.47%	18.54%	-2.14%	0.69%	39.59%	133.69%
GLD SPDR Gold Shares	0.06%	63.68%	26.66%	12.69%	-0.77%	-4.15%	24.81%	17.86%	-1.94%	12.81%

Correlation

The correlation between NRG and GLD is 0.14, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.14
Correlation (3Y) Calculated over the trailing 3-year period	0.14
Correlation (5Y) Calculated over the trailing 5-year period	0.11
Correlation (10Y) Calculated over the trailing 10-year period	0.08
Correlation (All Time) Calculated using the full available price history since Nov 18, 2004	0.09

Return for Risk

NRG vs. GLD — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

NRG

NRG Risk / Return Rank: 28
NRG Sharpe Ratio Rank: 29
NRG Sortino Ratio Rank: 28
NRG Omega Ratio Rank: 28
NRG Calmar Ratio Rank: 29
NRG Martin Ratio Rank: 23

GLD

GLD Risk / Return Rank: 27
GLD Sharpe Ratio Rank: 28
GLD Sortino Ratio Rank: 26
GLD Omega Ratio Rank: 31
GLD Calmar Ratio Rank: 24
GLD Martin Ratio Rank: 24

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

NRG vs. GLD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for NRG Energy, Inc. (NRG) and SPDR Gold Shares (GLD). 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.

	NRG	GLD	Difference
Sharpe ratio: Return per unit of total volatility	-0.30	0.93	-1.22
Sortino ratio: Return per unit of downside risk	-0.12	1.30	-1.42
Omega ratio: Gain probability vs. loss probability	0.99	1.19	-0.21
Calmar ratio: Return relative to maximum drawdown	-0.39	1.04	-1.43
Martin ratio: Return relative to average drawdown	-0.96	2.97	-3.93

NRG vs. GLD - Sharpe Ratio Comparison

The current NRG Sharpe Ratio is -0.30, which is lower than the GLD Sharpe Ratio of 0.93. The chart below compares the historical Sharpe Ratios of NRG and GLD, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

NRG vs. GLD - Drawdown Comparison

The maximum NRG drawdown since its inception was -79.41%, which is greater than GLD's maximum drawdown of -45.56%. Use the drawdown chart below to compare losses from any high point for NRG and GLD.

Drawdown Indicators

	NRG	GLD	Difference
Max Drawdown Largest peak-to-trough decline	-79.41%	-45.56%	-33.85%
Max Drawdown (1Y) Largest decline over 1 year	-34.24%	-24.46%	-9.78%
Max Drawdown (3Y) Largest decline over 3 years	-34.24%	-24.46%	-9.78%
Max Drawdown (5Y) Largest decline over 5 years	-34.24%	-24.46%	-9.78%
Max Drawdown (10Y) Largest decline over 10 years	-48.76%	-24.46%	-24.30%
Current Drawdown Current decline from peak	-28.92%	-20.03%	-8.89%
Average Drawdown Average peak-to-trough decline	-27.99%	-16.16%	-11.83%
Ulcer Index Depth and duration of drawdowns from previous peaks	13.85%	8.59%	+5.26%

Volatility

NRG vs. GLD - Volatility Comparison

NRG Energy, Inc. (NRG) has a higher volatility of 15.52% compared to SPDR Gold Shares (GLD) at 8.37%. This indicates that NRG's price experiences larger fluctuations and is considered to be riskier than GLD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NRG	GLD	Difference
Volatility (1M) Calculated over the trailing 1-month period	15.52%	8.37%	+7.15%
Volatility (6M) Calculated over the trailing 6-month period	35.29%	24.21%	+11.08%
Volatility (1Y) Calculated over the trailing 1-year period	45.12%	27.49%	+17.63%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	40.08%	18.26%	+21.82%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	39.17%	16.10%	+23.07%

Dividends

NRG vs. GLD - Dividend Comparison

NRG's dividend yield for the trailing twelve months is around 1.40%, while GLD has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GLD SPDR Gold Shares	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
NRG NRG Energy, Inc.	1.40%	1.11%	1.81%	2.92%	4.40%	3.02%	3.20%	0.30%	0.30%	0.42%	1.92%	4.93%

Frequently Asked Questions

Can I hold both NRG and GLD in my portfolio?

NRG and GLD have a correlation of 0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, NRG or GLD?

NRG has higher volatility (15.52%) compared to GLD (8.37%). In terms of maximum drawdown, NRG dropped -79.41% vs GLD's -45.56%.

Which has better risk-adjusted returns?

GLD currently has the higher Sharpe Ratio (0.93 vs -0.30), 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.