OLA.TO vs. ^TNX

Last updated Jun 4, 2026

OLA.TO (Orla Mining Ltd.) is a stock, while ^TNX (Treasury Yield 10 Years) is an index. Over the past 10 years, OLA.TO returned 56.65%/yr vs 10.97%/yr for ^TNX. At a correlation of -0.09, they often move in opposite directions.

Performance

OLA.TO vs. ^TNX - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Orla Mining Ltd. (OLA.TO) and Treasury Yield 10 Years (^TNX). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

OLA.TO is traded in CAD, while ^TNX is traded in USD. To make them comparable, the ^TNX values have been converted to CAD using the latest available exchange rates.

Returns By Period

In the year-to-date period, OLA.TO achieves a -15.63% return, which is significantly lower than ^TNX's 9.25% return. Over the past 10 years, OLA.TO has outperformed ^TNX with an annualized return of 56.65%, while ^TNX has yielded a comparatively lower 10.97% annualized return.

OLA.TO

• 1D: -5.47%
• 1M: -12.00%
• YTD: -15.63%
• 6M: -16.44%
• 1Y: 1.47%
• 3Y*: 35.65%
• 5Y*: 23.83%
• 10Y*: 56.65%

^TNX

• 1D: 1.22%
• 1M: 3.03%
• YTD: 9.25%
• 6M: 10.27%
• 1Y: 1.99%
• 3Y*: 8.00%
• 5Y*: 27.08%
• 10Y*: 10.97%

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

OLA.TO vs. ^TNX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
OLA.TO Orla Mining Ltd.	-15.63%	131.91%	84.26%	-21.17%	13.46%	-29.59%	243.00%	90.48%	-41.01%	42.40%
^TNX Treasury Yield 10 Years	9.25%	-13.14%	28.45%	-2.53%	174.83%	63.40%	-53.02%	-32.07%	21.16%	-7.94%

Correlation

The correlation between OLA.TO and ^TNX is -0.23, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.23
Correlation (3Y) Calculated over the trailing 3-year period	-0.17
Correlation (5Y) Calculated over the trailing 5-year period	-0.18
Correlation (10Y) Calculated over the trailing 10-year period	-0.14
Correlation (All Time) Calculated using the full available price history since Feb 9, 2010	-0.09

The correlation between OLA.TO and ^TNX shifts across timeframes, from -0.23 (1 year) to -0.09 (all time), reflecting how their relationship changes across market environments.

Return for Risk

OLA.TO vs. ^TNX — Risk / Return Rank

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

OLA.TO

OLA.TO Risk / Return Rank: 42
OLA.TO Sharpe Ratio Rank: 41
OLA.TO Sortino Ratio Rank: 43
OLA.TO Omega Ratio Rank: 42
OLA.TO Calmar Ratio Rank: 40
OLA.TO Martin Ratio Rank: 41

^TNX

^TNX Risk / Return Rank: 12
^TNX Sharpe Ratio Rank: 12
^TNX Sortino Ratio Rank: 11
^TNX Omega Ratio Rank: 11
^TNX Calmar Ratio Rank: 12
^TNX Martin Ratio Rank: 12

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.

OLA.TO vs. ^TNX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Orla Mining Ltd. (OLA.TO) and Treasury Yield 10 Years (^TNX). 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.

	OLA.TO	^TNX	Difference
Sharpe ratio: Return per unit of total volatility	0.02	0.12	-0.10
Sortino ratio: Return per unit of downside risk	0.55	0.29	+0.26
Omega ratio: Gain probability vs. loss probability	1.07	1.03	+0.04
Calmar ratio: Return relative to maximum drawdown	0.03	0.16	-0.13
Martin ratio: Return relative to average drawdown	0.07	0.32	-0.25
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

OLA.TO vs. ^TNX - Sharpe Ratio Comparison

The current OLA.TO Sharpe Ratio is 0.02, which is lower than the ^TNX Sharpe Ratio of 0.12. The chart below compares the historical Sharpe Ratios of OLA.TO and ^TNX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	OLA.TO	^TNX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.02	0.12	-0.10
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.41	0.82	-0.40
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.78	0.23	+0.55
Sharpe Ratio (All Time) Calculated using the full available price history	0.16	0.05	+0.11

Drawdowns

OLA.TO vs. ^TNX - Drawdown Comparison

The maximum OLA.TO drawdown since its inception was -97.30%, which is greater than ^TNX's maximum drawdown of -83.97%. Use the drawdown chart below to compare losses from any high point for OLA.TO and ^TNX.

Drawdown Indicators

	OLA.TO	^TNX	Difference
Max Drawdown Largest peak-to-trough decline	-97.30%	-83.97%	-13.33%
Max Drawdown (1Y) Largest decline over 1 year	-47.56%	-12.47%	-35.09%
Max Drawdown (3Y) Largest decline over 3 years	-47.56%	-28.10%	-19.46%
Max Drawdown (5Y) Largest decline over 5 years	-52.00%	-28.10%	-23.90%
Max Drawdown (10Y) Largest decline over 10 years	-56.61%	-83.93%	+27.32%
Current Drawdown Current decline from peak	-47.56%	-9.63%	-37.93%
Average Drawdown Average peak-to-trough decline	-29.42%	-32.52%	+3.10%
Ulcer Index Depth and duration of drawdowns from previous peaks	20.11%	6.24%	+13.87%

Volatility

OLA.TO vs. ^TNX - Volatility Comparison

Orla Mining Ltd. (OLA.TO) has a higher volatility of 23.45% compared to Treasury Yield 10 Years (^TNX) at 5.28%. This indicates that OLA.TO's price experiences larger fluctuations and is considered to be riskier than ^TNX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	OLA.TO	^TNX	Difference
Volatility (1M) Calculated over the trailing 1-month period	23.45%	5.28%	+18.17%
Volatility (6M) Calculated over the trailing 6-month period	52.09%	11.60%	+40.49%
Volatility (1Y) Calculated over the trailing 1-year period	73.55%	17.01%	+56.54%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	58.29%	33.42%	+24.87%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	74.05%	48.26%	+25.79%

Frequently Asked Questions

Can I hold both OLA.TO and ^TNX in my portfolio?

OLA.TO and ^TNX have a correlation of -0.23, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.