SA vs. AAAU
SA (Seabridge Gold Inc.) is a stock, while AAAU (Goldman Sachs Physical Gold ETF) is Gold fund tracking the LBMA Gold PM Price. Over the past 5 years, SA returned 7.22%/yr vs 16.76%/yr for AAAU. A 0.64 correlation means they provide meaningful diversification when combined.
Performance
SA vs. AAAU - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, SA achieves a -15.68% return, which is significantly lower than AAAU's -7.29% return.
SA
- 1D
- -3.96%
- 1M
- -11.02%
- 6M
- -20.03%
- YTD
- -15.68%
- 1Y
- 58.82%
- 3Y*
- 23.89%
- 5Y*
- 7.22%
- 10Y*
- 6.03%
AAAU
- 1D
- -2.59%
- 1M
- -5.01%
- 6M
- -12.99%
- YTD
- -7.29%
- 1Y
- 19.00%
- 3Y*
- 26.76%
- 5Y*
- 16.76%
- 10Y*
- —
SA vs. AAAU - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
SA Seabridge Gold Inc. | -15.68% | 159.33% | -5.94% | -3.58% | -23.71% | -21.74% | 52.46% | 4.46% | 3.36% |
AAAU Goldman Sachs Physical Gold ETF | -7.29% | 64.06% | 26.91% | 12.96% | -0.50% | -4.01% | 25.02% | 18.17% | 8.28% |
Correlation
The correlation between SA and AAAU is 0.68, 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 | 0.68 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.65 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.66 |
Correlation (All Time) Calculated using the full available price history since Aug 15, 2018 | 0.64 |
The correlation between SA and AAAU has been stable across timeframes, ranging from 0.64 to 0.68 - a consistent structural relationship.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
SA vs. AAAU — Risk / Return Rank
SA
AAAU
SA vs. AAAU - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Seabridge Gold Inc. (SA) and Goldman Sachs Physical Gold ETF (AAAU). 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.
| SA | AAAU | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.19 | ||
| Sortino ratioReturn per unit of downside risk | +0.44 | ||
| Omega ratioGain probability vs. loss probability | 1.19 | 1.15 | +0.04 |
| Calmar ratioReturn relative to maximum drawdown | 1.56 | 0.73 | +0.83 |
| Martin ratioReturn relative to average drawdown | 3.43 | 1.79 | +1.64 |
Loading charts...
Drawdowns
SA vs. AAAU - Drawdown Comparison
The maximum SA drawdown since its inception was -90.99%, which is greater than AAAU's maximum drawdown of -26.14%. Use the drawdown chart below to compare losses from any high point for SA and AAAU.
Loading charts...
Drawdown Indicators
| SA | AAAU | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -90.99% | -26.14% | -64.85% |
Max Drawdown (1Y)Largest decline over 1 year | -37.92% | -26.14% | -11.78% |
Max Drawdown (3Y)Largest decline over 3 years | -52.51% | -26.14% | -26.37% |
Max Drawdown (5Y)Largest decline over 5 years | -56.12% | -26.14% | -29.98% |
Max Drawdown (10Y)Largest decline over 10 years | -61.10% | — | — |
Current DrawdownCurrent decline from peak | -36.59% | -25.86% | -10.73% |
Average DrawdownAverage peak-to-trough decline | -51.21% | -6.40% | -44.81% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 17.22% | 10.63% | +6.59% |
Volatility
SA vs. AAAU - Volatility Comparison
Seabridge Gold Inc. (SA) has a higher volatility of 21.77% compared to Goldman Sachs Physical Gold ETF (AAAU) at 7.53%. This indicates that SA's price experiences larger fluctuations and is considered to be riskier than AAAU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| SA | AAAU | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 21.77% | 7.53% | +14.24% |
Volatility (6M)Calculated over the trailing 6-month period | 55.91% | 23.96% | +31.95% |
Volatility (1Y)Calculated over the trailing 1-year period | 67.13% | 27.68% | +39.45% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 52.03% | 18.23% | +33.80% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 51.69% | 17.21% | +34.48% |
Dividends
SA vs. AAAU - Dividend Comparison
Neither SA nor AAAU has paid dividends to shareholders.
Frequently Asked Questions
SA and AAAU have a correlation of 0.68, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SA has higher volatility (21.77%) compared to AAAU (7.53%). In terms of maximum drawdown, SA dropped -90.99% vs AAAU's -26.14%.
SA currently has the higher Sharpe Ratio (0.88 vs 0.69), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
Find the right allocation for SA and AAAU
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer