SA vs. IAUM
SA (Seabridge Gold Inc.) is a stock, while IAUM (iShares Gold Trust Micro) is Gold fund tracking the LBMA Gold Price PM. Over the past 5 years, SA returned 7.22%/yr vs 16.91%/yr for IAUM. A 0.66 correlation means they provide meaningful diversification when combined.
Performance
SA vs. IAUM - Performance Comparison
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Returns By Period
In the year-to-date period, SA achieves a -15.68% return, which is significantly lower than IAUM's -7.23% 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%
IAUM
- 1D
- -2.57%
- 1M
- -4.96%
- 6M
- -12.91%
- YTD
- -7.23%
- 1Y
- 19.15%
- 3Y*
- 26.91%
- 5Y*
- 16.91%
- 10Y*
- —
SA vs. IAUM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
SA Seabridge Gold Inc. | -15.68% | 159.33% | -5.94% | -3.58% | -23.71% | -5.39% |
IAUM iShares Gold Trust Micro | -7.23% | 64.27% | 27.04% | 13.12% | -0.49% | 3.87% |
Correlation
The correlation between SA and IAUM 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 | 0.64 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.66 |
Correlation (All Time) Calculated using the full available price history since Jun 29, 2021 | 0.66 |
The correlation between SA and IAUM has been stable across timeframes, ranging from 0.64 to 0.68 - a consistent structural relationship.
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Return for Risk
SA vs. IAUM — Risk / Return Rank
SA
IAUM
SA vs. IAUM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Seabridge Gold Inc. (SA) and iShares Gold Trust Micro (IAUM). 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 | IAUM | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.19 | ||
| Sortino ratioReturn per unit of downside risk | +0.43 | ||
| Omega ratioGain probability vs. loss probability | 1.19 | 1.15 | +0.04 |
| Calmar ratioReturn relative to maximum drawdown | 1.56 | 0.74 | +0.82 |
| Martin ratioReturn relative to average drawdown | 3.43 | 1.80 | +1.62 |
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Drawdowns
SA vs. IAUM - Drawdown Comparison
The maximum SA drawdown since its inception was -90.99%, which is greater than IAUM's maximum drawdown of -26.14%. Use the drawdown chart below to compare losses from any high point for SA and IAUM.
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Drawdown Indicators
| SA | IAUM | 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% | -5.66% | -45.55% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 17.22% | 10.65% | +6.57% |
Volatility
SA vs. IAUM - Volatility Comparison
Seabridge Gold Inc. (SA) has a higher volatility of 21.77% compared to iShares Gold Trust Micro (IAUM) at 7.53%. This indicates that SA's price experiences larger fluctuations and is considered to be riskier than IAUM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SA | IAUM | 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% | 23.90% | +32.01% |
Volatility (1Y)Calculated over the trailing 1-year period | 67.13% | 27.65% | +39.48% |
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% | 18.17% | +33.52% |
Dividends
SA vs. IAUM - Dividend Comparison
Neither SA nor IAUM has paid dividends to shareholders.
Frequently Asked Questions
SA and IAUM 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 IAUM (7.53%). In terms of maximum drawdown, SA dropped -90.99% vs IAUM's -26.14%.
SA currently has the higher Sharpe Ratio (0.88 vs 0.70), 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.
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