NST.AX vs. GC=F

Last updated Apr 2, 2026

Compare and contrast key facts about Northern Star Resources Limited (NST.AX) and Gold (GC=F).

Performance

NST.AX vs. GC=F - Performance Comparison

The chart below illustrates the hypothetical performance of a A$10,000 investment in Northern Star Resources Limited (NST.AX) and Gold (GC=F). The values are adjusted to include any dividend payments, if applicable.

NST.AX vs. GC=F - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
NST.AX Northern Star Resources Limited	-16.64%	78.29%	16.25%	28.10%	18.93%	-24.37%	14.47%	24.17%	53.38%	71.79%
GC=F Gold	7.22%	52.58%	40.31%	13.42%	6.15%	2.19%	13.65%	19.42%	8.35%	4.94%

Different Trading Currencies

NST.AX is traded in AUD, while GC=F is traded in USD. To make them comparable, the GC=F values have been converted to AUD using the latest available exchange rates.

Returns By Period

In the year-to-date period, NST.AX achieves a -16.64% return, which is significantly lower than GC=F's 7.22% return. Over the past 10 years, NST.AX has outperformed GC=F with an annualized return of 23.04%, while GC=F has yielded a comparatively lower 15.88% annualized return.

NST.AX

• 1D: 8.55%
• 1M: -29.78%
• YTD: -16.64%
• 6M: -6.81%
• 1Y: 23.13%
• 3Y*: 24.75%
• 5Y*: 20.61%
• 10Y*: 23.04%

GC=F

• 1D: 3.18%
• 1M: -6.86%
• YTD: 7.22%
• 6M: 18.85%
• 1Y: 39.84%
• 3Y*: 33.13%
• 5Y*: 25.11%
• 10Y*: 15.88%

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

Return for Risk

NST.AX vs. GC=F — Risk / Return Rank

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

NST.AX

NST.AX Risk / Return Rank: 54
NST.AX Sharpe Ratio Rank: 56
NST.AX Sortino Ratio Rank: 51
NST.AX Omega Ratio Rank: 53
NST.AX Calmar Ratio Rank: 54
NST.AX Martin Ratio Rank: 57

GC=F

GC=F Risk / Return Rank: 91
GC=F Sharpe Ratio Rank: 100
GC=F Sortino Ratio Rank: 100
GC=F Omega Ratio Rank: 94
GC=F Calmar Ratio Rank: 71
GC=F Martin Ratio Rank: 92

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.

NST.AX vs. GC=F - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Northern Star Resources Limited (NST.AX) and Gold (GC=F). 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.

	NST.AX	GC=F	Difference
Sharpe ratio Return per unit of total volatility	0.45	1.50	-1.06
Sortino ratio Return per unit of downside risk	0.87	1.89	-1.02
Omega ratio Gain probability vs. loss probability	1.13	1.30	-0.17
Calmar ratio Return relative to maximum drawdown	0.56	2.14	-1.59
Martin ratio Return relative to average drawdown	1.59	7.27	-5.68
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

NST.AX vs. GC=F - Sharpe Ratio Comparison

The current NST.AX Sharpe Ratio is 0.45, which is lower than the GC=F Sharpe Ratio of 1.50. The chart below compares the historical Sharpe Ratios of NST.AX and GC=F, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	NST.AX	GC=F	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.45	1.50	-1.06
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.52	1.47	-0.95
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.53	0.99	-0.46
Sharpe Ratio (All Time) Calculated using the full available price history	0.36	0.60	-0.23

Correlation

The correlation between NST.AX and GC=F is 0.09, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Drawdowns

NST.AX vs. GC=F - Drawdown Comparison

The maximum NST.AX drawdown since its inception was -95.53%, which is greater than GC=F's maximum drawdown of -28.16%. Use the drawdown chart below to compare losses from any high point for NST.AX and GC=F.

Drawdown Indicators

	NST.AX	GC=F	Difference
Max Drawdown Largest peak-to-trough decline	-95.53%	-44.36%	-51.17%
Max Drawdown (1Y) Largest decline over 1 year	-45.32%	-17.73%	-27.59%
Max Drawdown (5Y) Largest decline over 5 years	-45.32%	-20.43%	-24.89%
Max Drawdown (10Y) Largest decline over 10 years	-58.71%	-20.87%	-37.84%
Current Drawdown Current decline from peak	-29.78%	-10.04%	-19.74%
Average Drawdown Average peak-to-trough decline	-30.01%	-13.03%	-16.98%
Ulcer Index Depth and duration of drawdowns from previous peaks	15.82%	4.78%	+11.04%

Volatility

NST.AX vs. GC=F - Volatility Comparison

Northern Star Resources Limited (NST.AX) has a higher volatility of 30.22% compared to Gold (GC=F) at 11.51%. This indicates that NST.AX's price experiences larger fluctuations and is considered to be riskier than GC=F based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NST.AX	GC=F	Difference
Volatility (1M) Calculated over the trailing 1-month period	30.22%	11.51%	+18.71%
Volatility (6M) Calculated over the trailing 6-month period	43.24%	23.06%	+20.18%
Volatility (1Y) Calculated over the trailing 1-year period	51.36%	25.53%	+25.83%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	39.87%	17.05%	+22.82%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	43.34%	15.96%	+27.38%