OR.TO vs. CTGO

Last updated Jun 6, 2026

OR.TO (Osisko Gold Royalties Ltd) and CTGO (Contango Ore, Inc.) are both stocks. Both operate in the Gold industry within the Basic Materials sector. Over the past 10 years, OR.TO returned 12.36%/yr vs 10.76%/yr for CTGO. At a 0.08 correlation, their price movements are largely independent.

Performance

OR.TO vs. CTGO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Osisko Gold Royalties Ltd (OR.TO) and Contango Ore, Inc. (CTGO). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

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

Returns By Period

In the year-to-date period, OR.TO achieves a -2.93% return, which is significantly higher than CTGO's -36.54% return. Over the past 10 years, OR.TO has outperformed CTGO with an annualized return of 12.36%, while CTGO has yielded a comparatively lower 10.76% annualized return.

OR.TO

• 1D: -6.23%
• 1M: -10.81%
• YTD: -2.93%
• 6M: 0.65%
• 1Y: 31.19%
• 3Y*: 30.91%
• 5Y*: 22.99%
• 10Y*: 12.36%

CTGO

• 1D: -11.63%
• 1M: -31.37%
• YTD: -36.54%
• 6M: -36.51%
• 1Y: -16.16%
• 3Y*: -17.62%
• 5Y*: -2.39%
• 10Y*: 10.76%

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

OR.TO vs. CTGO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
OR.TO Osisko Gold Royalties Ltd	-2.93%	88.16%	39.17%	17.33%	7.02%	-2.67%	29.76%	6.96%	-16.11%	12.23%
CTGO Contango Ore, Inc.	-36.54%	151.48%	-39.92%	-22.73%	-4.09%	35.30%	27.12%	-21.22%	4.60%	-13.29%

Correlation

The correlation between OR.TO and CTGO is 0.51, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.51
Correlation (3Y) Calculated over the trailing 3-year period	0.39
Correlation (5Y) Calculated over the trailing 5-year period	0.24
Correlation (10Y) Calculated over the trailing 10-year period	0.11
Correlation (All Time) Calculated using the full available price history since Jun 3, 2014	0.08

Over the past year, OR.TO and CTGO have become more correlated (0.51) than their long-term average of 0.08, meaning their price movements have been converging.

Fundamentals

Market Cap OR.TO : CA$8.89B CTGO : $284.49M
EPS OR.TO : CA$1.34 CTGO : -$1.96
PB Ratio OR.TO : 6.03 CTGO : 0.88
Total Revenue (TTM) OR.TO : CA$324.98M CTGO : $0.00
Gross Profit (TTM) OR.TO : CA$282.47M CTGO : -$158.43K
EBITDA (TTM) OR.TO : CA$324.46M CTGO : -$20.93M

Return for Risk

OR.TO vs. CTGO — Risk / Return Rank

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

OR.TO

OR.TO Risk / Return Rank: 62
OR.TO Sharpe Ratio Rank: 65
OR.TO Sortino Ratio Rank: 58
OR.TO Omega Ratio Rank: 60
OR.TO Calmar Ratio Rank: 63
OR.TO Martin Ratio Rank: 63

CTGO

CTGO Risk / Return Rank: 29
CTGO Sharpe Ratio Rank: 29
CTGO Sortino Ratio Rank: 31
CTGO Omega Ratio Rank: 31
CTGO Calmar Ratio Rank: 30
CTGO 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.

OR.TO vs. CTGO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Osisko Gold Royalties Ltd (OR.TO) and Contango Ore, Inc. (CTGO). 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.

	OR.TO	CTGO	Difference
Sharpe ratio: Return per unit of total volatility	0.72	-0.26	+0.98
Sortino ratio: Return per unit of downside risk	1.13	0.03	+1.10
Omega ratio: Gain probability vs. loss probability	1.16	1.00	+0.16
Calmar ratio: Return relative to maximum drawdown	1.02	-0.33	+1.34
Martin ratio: Return relative to average drawdown	2.33	-0.82	+3.15
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

OR.TO vs. CTGO - Sharpe Ratio Comparison

The current OR.TO Sharpe Ratio is 0.72, which is higher than the CTGO Sharpe Ratio of -0.26. The chart below compares the historical Sharpe Ratios of OR.TO and CTGO, 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

	OR.TO	CTGO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.72	-0.26	+0.98
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.69	-0.04	+0.73
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.34	0.14	+0.20
Sharpe Ratio (All Time) Calculated using the full available price history	0.32	0.08	+0.24

Drawdowns

OR.TO vs. CTGO - Drawdown Comparison

The maximum OR.TO drawdown since its inception was -58.25%, smaller than the maximum CTGO drawdown of -81.66%. Use the drawdown chart below to compare losses from any high point for OR.TO and CTGO.

Drawdown Indicators

	OR.TO	CTGO	Difference
Max Drawdown Largest peak-to-trough decline	-58.25%	-81.66%	+23.41%
Max Drawdown (1Y) Largest decline over 1 year	-30.85%	-49.60%	+18.75%
Max Drawdown (3Y) Largest decline over 3 years	-30.85%	-70.19%	+39.34%
Max Drawdown (5Y) Largest decline over 5 years	-34.22%	-70.19%	+35.97%
Max Drawdown (10Y) Largest decline over 10 years	-57.66%	-70.53%	+12.87%
Current Drawdown Current decline from peak	-27.67%	-49.60%	+21.93%
Average Drawdown Average peak-to-trough decline	-16.54%	-36.71%	+20.17%
Ulcer Index Depth and duration of drawdowns from previous peaks	13.41%	19.79%	-6.38%

Volatility

OR.TO vs. CTGO - Volatility Comparison

The current volatility for Osisko Gold Royalties Ltd (OR.TO) is 14.11%, while Contango Ore, Inc. (CTGO) has a volatility of 23.73%. This indicates that OR.TO experiences smaller price fluctuations and is considered to be less risky than CTGO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	OR.TO	CTGO	Difference
Volatility (1M) Calculated over the trailing 1-month period	14.11%	23.73%	-9.62%
Volatility (6M) Calculated over the trailing 6-month period	36.68%	50.79%	-14.11%
Volatility (1Y) Calculated over the trailing 1-year period	43.70%	61.57%	-17.87%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	33.57%	61.34%	-27.77%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	36.19%	77.21%	-41.02%

Dividends

OR.TO vs. CTGO - Dividend Comparison

OR.TO's dividend yield for the trailing twelve months is around 0.64%, while CTGO has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CTGO Contango Ore, 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%
OR.TO Osisko Gold Royalties Ltd	0.64%	0.60%	0.98%	1.24%	1.35%	1.36%	1.24%	1.58%	1.67%	1.24%	1.22%	0.95%

Financials

Frequently Asked Questions

Can I hold both OR.TO and CTGO in my portfolio?

OR.TO and CTGO have a correlation of 0.51, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.