PAF.L vs. SGLN.L
PAF.L (Pan African Resources plc) is a stock, while SGLN.L (iShares Physical Gold ETC) is Gold fund tracking the LBMA Gold Price. Over the past 10 years, PAF.L returned 24.42%/yr vs 13.01%/yr for SGLN.L. At a 0.31 correlation, their price movements are largely independent.
Performance
PAF.L vs. SGLN.L - Performance Comparison
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Returns By Period
In the year-to-date period, PAF.L achieves a -9.60% return, which is significantly lower than SGLN.L's -1.83% return. Over the past 10 years, PAF.L has outperformed SGLN.L with an annualized return of 24.42%, while SGLN.L has yielded a comparatively lower 13.01% annualized return.
PAF.L
- 1D
- 5.62%
- 1M
- -26.94%
- YTD
- -9.60%
- 6M
- -1.63%
- 1Y
- 129.47%
- 3Y*
- 108.56%
- 5Y*
- 46.75%
- 10Y*
- 24.42%
SGLN.L
- 1D
- 2.90%
- 1M
- -9.54%
- YTD
- -1.83%
- 6M
- -1.90%
- 1Y
- 24.78%
- 3Y*
- 26.65%
- 5Y*
- 18.64%
- 10Y*
- 13.01%
PAF.L vs. SGLN.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PAF.L Pan African Resources plc | -9.60% | 258.03% | 109.32% | 6.38% | 4.14% | -25.77% | 102.96% | 40.81% | -34.94% | -11.75% |
SGLN.L iShares Physical Gold ETC | -1.83% | 53.66% | 28.20% | 7.24% | 11.84% | -2.82% | 19.93% | 14.63% | 4.36% | 1.68% |
Correlation
The correlation between PAF.L and SGLN.L is 0.67, 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 | 0.67 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.54 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.47 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.39 |
Correlation (All Time) Calculated using the full available price history since Apr 8, 2011 | 0.31 |
Over the past year, PAF.L and SGLN.L have become more correlated (0.67) than their long-term average of 0.31, meaning their price movements have been converging.
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Return for Risk
PAF.L vs. SGLN.L — Risk / Return Rank
PAF.L
SGLN.L
PAF.L vs. SGLN.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Pan African Resources plc (PAF.L) and iShares Physical Gold ETC (SGLN.L). 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.
| PAF.L | SGLN.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.35 | ||
| Sortino ratioReturn per unit of downside risk | +1.21 | ||
| Omega ratioGain probability vs. loss probability | 1.36 | 1.22 | +0.14 |
| Calmar ratioReturn relative to maximum drawdown | 2.95 | 1.13 | +1.82 |
| Martin ratioReturn relative to average drawdown | 9.67 | 3.51 | +6.16 |
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Drawdowns
PAF.L vs. SGLN.L - Drawdown Comparison
The maximum PAF.L drawdown since its inception was -80.73%, which is greater than SGLN.L's maximum drawdown of -53.23%. Use the drawdown chart below to compare losses from any high point for PAF.L and SGLN.L.
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Drawdown Indicators
| PAF.L | SGLN.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -80.73% | -53.23% | -27.50% |
Max Drawdown (1Y)Largest decline over 1 year | -44.73% | -22.87% | -21.86% |
Max Drawdown (3Y)Largest decline over 3 years | -44.73% | -22.87% | -21.86% |
Max Drawdown (5Y)Largest decline over 5 years | -47.34% | -22.87% | -24.47% |
Max Drawdown (10Y)Largest decline over 10 years | -70.68% | -22.87% | -47.81% |
Current DrawdownCurrent decline from peak | -40.36% | -20.64% | -19.72% |
Average DrawdownAverage peak-to-trough decline | -29.27% | -24.70% | -4.57% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 13.65% | 7.37% | +6.28% |
Volatility
PAF.L vs. SGLN.L - Volatility Comparison
Pan African Resources plc (PAF.L) has a higher volatility of 21.97% compared to iShares Physical Gold ETC (SGLN.L) at 6.68%. This indicates that PAF.L's price experiences larger fluctuations and is considered to be riskier than SGLN.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PAF.L | SGLN.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 21.97% | 6.68% | +15.29% |
Volatility (6M)Calculated over the trailing 6-month period | 44.78% | 20.78% | +24.00% |
Volatility (1Y)Calculated over the trailing 1-year period | 54.10% | 23.82% | +30.28% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 48.00% | 21.84% | +26.16% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 53.54% | 18.84% | +34.70% |
Dividends
PAF.L vs. SGLN.L - Dividend Comparison
PAF.L's dividend yield for the trailing twelve months is around 2.00%, while SGLN.L has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PAF.L Pan African Resources plc | 2.00% | 1.35% | 2.79% | 4.52% | 5.25% | 5.09% | 2.92% | 0.98% | 0.00% | 3.38% | 5.67% | 6.83% |
SGLN.L iShares Physical Gold ETC | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
PAF.L and SGLN.L have a correlation of 0.67, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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