OR vs. SAND

Last updated Jun 3, 2026

OR (Osisko Gold Royalties Ltd) and SAND (Sandstorm Gold Ltd.) are both stocks. Both operate in the Gold industry within the Basic Materials sector. A 0.72 correlation means they provide meaningful diversification when combined.

Performance

OR vs. SAND - Performance Comparison

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

Returns By Period

OR

• 1D: 2.50%
• 1M: 0.35%
• YTD: 4.29%
• 6M: 8.62%
• 1Y: 37.09%
• 3Y*: 33.49%
• 5Y*: 22.25%
• 10Y*: 12.32%

SAND

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

OR vs. SAND - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
OR Osisko Gold Royalties Ltd	4.29%	96.95%	28.14%	19.96%	0.02%	-2.01%	32.58%	12.20%	-22.72%	20.74%
SAND Sandstorm Gold Ltd.	0.00%	118.72%	12.15%	-3.32%	-14.29%	-13.53%	-3.76%	61.61%	-7.62%	27.95%

Correlation

The correlation between OR and SAND is 0.39, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.39
Correlation (3Y) Calculated over the trailing 3-year period	0.60
Correlation (5Y) Calculated over the trailing 5-year period	0.70
Correlation (10Y) Calculated over the trailing 10-year period	0.73
Correlation (All Time) Calculated using the full available price history since Jan 5, 2016	0.72

Over the past year, the correlation between OR and SAND has dropped to 0.39 - well below their long-term average of 0.72, suggesting their price drivers have been diverging.

Fundamentals

Market Cap OR : $6.95B SAND : $3.64B
EPS OR : $1.34 SAND : $0.11
PE Ratio OR : 27.45 SAND : 105.77
PEG Ratio OR : 0.15 SAND : 4.56
PS Ratio OR : 21.43 SAND : 18.81
PB Ratio OR : 4.70 SAND : 2.55
Total Revenue (TTM) OR : $325.18M SAND : $193.59M
Gross Profit (TTM) OR : $275.03M SAND : $114.43M
EBITDA (TTM) OR : $330.83M SAND : $144.88M

Return for Risk

OR vs. SAND — Risk / Return Rank

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

OR

OR Risk / Return Rank: 65
OR Sharpe Ratio Rank: 67
OR Sortino Ratio Rank: 59
OR Omega Ratio Rank: 62
OR Calmar Ratio Rank: 67
OR Martin Ratio Rank: 68

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 vs. SAND - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Osisko Gold Royalties Ltd (OR) and Sandstorm Gold Ltd. (SAND). 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	SAND	Difference
Sharpe ratio Return per unit of total volatility	0.85	—	—
Sortino ratio Return per unit of downside risk	1.26	—	—
Omega ratio Gain probability vs. loss probability	1.18	—	—
Calmar ratio Return relative to maximum drawdown	1.45	—	—
Martin ratio Return relative to average drawdown	3.39	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	OR	SAND	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.85	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.63	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.32	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.38	—	—

Drawdowns

Drawdown Indicators

	OR	SAND	Difference
Max Drawdown Largest peak-to-trough decline	-61.90%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-31.13%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-31.13%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-37.18%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-61.90%	—	—
Current Drawdown Current decline from peak	-22.67%	—	—
Average Drawdown Average peak-to-trough decline	-18.04%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	13.33%	—	—

Volatility

Volatility by Period

	OR	SAND	Difference
Volatility (1M) Calculated over the trailing 1-month period	13.48%	—	—
Volatility (6M) Calculated over the trailing 6-month period	36.86%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	44.37%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	35.54%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	38.39%	—	—

Dividends

OR vs. SAND - Dividend Comparison

OR's dividend yield for the trailing twelve months is around 0.60%, more than SAND's 0.24% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
OR Osisko Gold Royalties Ltd	0.60%	0.59%	1.02%	1.34%	1.38%	1.37%	1.18%	1.56%	1.72%	1.56%	1.65%
SAND Sandstorm Gold Ltd.	0.24%	0.47%	1.06%	1.19%	1.17%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Financials

OR vs. SAND - Profitability Comparison

The chart below illustrates the profitability comparison between Osisko Gold Royalties Ltd and Sandstorm Gold Ltd. over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

OR - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Osisko Gold Royalties Ltd reported a gross profit of 87.28M and revenue of 101.41M. Therefore, the gross margin over that period was 86.1%.

SAND - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Sandstorm Gold Ltd. reported a gross profit of 33.10M and revenue of 51.42M. Therefore, the gross margin over that period was 64.4%.

OR - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Osisko Gold Royalties Ltd reported an operating income of 79.13M and revenue of 101.41M, resulting in an operating margin of 78.0%.

SAND - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Sandstorm Gold Ltd. reported an operating income of 26.02M and revenue of 51.42M, resulting in an operating margin of 50.6%.

OR - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Osisko Gold Royalties Ltd reported a net income of 72.56M and revenue of 101.41M, resulting in a net margin of 71.6%.

SAND - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Sandstorm Gold Ltd. reported a net income of 15.46M and revenue of 51.42M, resulting in a net margin of 30.1%.

Frequently Asked Questions

Can I hold both OR and SAND in my portfolio?

OR and SAND have a correlation of 0.39, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.