SA vs. INDA
SA (Seabridge Gold Inc.) is a stock, while INDA (iShares MSCI India ETF) is India Equities fund tracking the MSCI India Index. Over the past 10 years, SA returned 7.17%/yr vs 6.54%/yr for INDA. Their 0.16 correlation means their historical movements had little consistent relationship.
Performance
SA vs. INDA - Performance Comparison
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Returns By Period
In the year-to-date period, SA achieves a -10.68% return, which is significantly lower than INDA's -7.20% return. Over the past 10 years, SA has outperformed INDA with an annualized return of 7.17%, while INDA has yielded a comparatively lower 6.54% annualized return.
SA
- 1D
- 2.40%
- 1M
- -4.31%
- 6M
- -4.96%
- YTD
- -10.68%
- 1Y
- 72.63%
- 3Y*
- 29.93%
- 5Y*
- 7.97%
- 10Y*
- 7.17%
- ALL TIME*
- 9.57%
INDA
- 1D
- 0.72%
- 1M
- 1.21%
- 6M
- -5.86%
- YTD
- -7.20%
- 1Y
- -4.86%
- 3Y*
- 4.69%
- 5Y*
- 3.35%
- 10Y*
- 6.54%
- ALL TIME*
- 5.49%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $354.14M | $302.56M | $314.82M | |
| $11.84M | $12.84M | $23.34M |
SA vs. INDA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SA Seabridge Gold Inc. | -10.68% | 159.33% | -5.94% | -3.58% | -23.71% | -21.74% | 52.46% | 4.46% | 17.08% | 38.65% |
INDA iShares MSCI India ETF | -7.20% | 2.68% | 8.63% | 17.16% | -8.94% | 21.36% | 14.83% | 6.49% | -6.67% | 36.08% |
Correlation
The correlation between SA and INDA is 0.29, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.29 |
Correlation (3Y) Balances recent behavior with more history. | 0.27 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.27 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.20 |
Correlation (All Time) Calculated using the full available price history since Feb 3, 2012 | 0.16 |
The correlation between SA and INDA shifts across timeframes, from 0.16 (all time) to 0.29 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
SA vs. INDA — Risk / Return Rank
SA
INDA
SA vs. INDA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Seabridge Gold Inc. (SA) and iShares MSCI India ETF (INDA). 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 | INDA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.40 | ||
| Sortino ratioReturn per unit of downside risk | +2.01 | ||
| Omega ratioGain probability vs. loss probability | 1.21 | 0.96 | +0.25 |
| Calmar ratioReturn relative to maximum drawdown | 1.93 | -0.27 | +2.20 |
| Martin ratioReturn relative to average drawdown | 3.81 | -0.60 | +4.41 |
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Drawdowns
SA vs. INDA - Drawdown Comparison
The maximum SA drawdown since its inception was -90.99%, which is greater than INDA's maximum drawdown of -45.07%. Use the drawdown chart below to compare losses from any high point for SA and INDA.
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Drawdown Indicators
| SA | INDA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -90.99% | -45.07% | -45.92% |
Max Drawdown (1Y)Largest decline over 1 year | -37.92% | -17.85% | -20.07% |
Max Drawdown (3Y)Largest decline over 3 years | -52.51% | -22.72% | -29.79% |
Max Drawdown (5Y)Largest decline over 5 years | -56.12% | -22.72% | -33.40% |
Max Drawdown (10Y)Largest decline over 10 years | -61.10% | -45.07% | -16.03% |
Current DrawdownCurrent decline from peak | -32.83% | -14.66% | -18.17% |
Average DrawdownAverage peak-to-trough decline | -51.17% | -9.65% | -41.52% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 19.11% | 8.18% | +10.93% |
Volatility
SA vs. INDA - Volatility Comparison
Seabridge Gold Inc. (SA) has a higher volatility of 17.16% compared to iShares MSCI India ETF (INDA) at 4.11%. This indicates that SA's price experiences larger fluctuations and is considered to be riskier than INDA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SA | INDA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 17.16% | 4.11% | +13.05% |
Volatility (6M)Calculated over the trailing 6-month period | 52.50% | 13.20% | +39.30% |
Volatility (1Y)Calculated over the trailing 1-year period | 68.05% | 15.16% | +52.89% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 52.32% | 15.47% | +36.85% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 51.68% | 21.08% | +30.60% |
Dividends
SA vs. INDA - Dividend Comparison
Neither SA nor INDA has paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
INDA iShares MSCI India ETF | 0.00% | 0.00% | 0.76% | 0.16% | 0.00% | 6.44% | 0.27% | 0.99% | 0.94% | 1.09% | 0.90% | 1.19% |
SA Seabridge Gold 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% |
Frequently Asked Questions
SA and INDA have a correlation of 0.29, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SA has higher volatility (17.16%) compared to INDA (4.11%). In terms of maximum drawdown, SA dropped -90.99% vs INDA's -45.07%.
SA currently has the higher Sharpe Ratio (1.08 vs -0.32), 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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