SA vs. SLVP
SA (Seabridge Gold Inc.) is a stock, while SLVP (iShares MSCI Global Silver and Metals Miners ETF) is Silver fund tracking the MSCI ACWI Select Silver Miners Investable Market Index. Over the past 10 years, SA returned 7.17%/yr vs 8.43%/yr for SLVP. Their 0.75 correlation means they have sometimes moved together and sometimes differently.
Performance
SA vs. SLVP - Performance Comparison
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Returns By Period
The year-to-date returns for both stocks are quite close, with SA having a -10.68% return and SLVP slightly lower at -10.94%. Over the past 10 years, SA has underperformed SLVP with an annualized return of 7.17%, while SLVP has yielded a comparatively higher 8.43% 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%
SLVP
- 1D
- 2.32%
- 1M
- -5.44%
- 6M
- -20.21%
- YTD
- -10.94%
- 1Y
- 77.01%
- 3Y*
- 48.31%
- 5Y*
- 17.22%
- 10Y*
- 8.43%
- ALL TIME*
- 2.68%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $11.84M | $12.84M | $23.34M | |
| $6.56M | $6.88M | $11.46M |
SA vs. SLVP - 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% |
SLVP iShares MSCI Global Silver and Metals Miners ETF | -10.94% | 202.84% | 14.47% | -2.31% | -18.06% | -23.53% | 56.45% | 37.71% | -22.10% | 4.53% |
Correlation
The correlation between SA and SLVP is 0.83, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.83 |
Correlation (3Y) Balances recent behavior with more history. | 0.81 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.83 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.79 |
Correlation (All Time) Calculated using the full available price history since Feb 2, 2012 | 0.75 |
The correlation between SA and SLVP has been stable across timeframes, ranging from 0.75 to 0.83 - a consistent structural relationship.
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Return for Risk
SA vs. SLVP — Risk / Return Rank
SA
SLVP
SA vs. SLVP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Seabridge Gold Inc. (SA) and iShares MSCI Global Silver and Metals Miners ETF (SLVP). 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 | SLVP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.30 | ||
| Sortino ratioReturn per unit of downside risk | -0.18 | ||
| Omega ratioGain probability vs. loss probability | 1.21 | 1.24 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | 1.93 | 1.99 | -0.06 |
| Martin ratioReturn relative to average drawdown | 3.81 | 4.04 | -0.23 |
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Drawdowns
SA vs. SLVP - Drawdown Comparison
The maximum SA drawdown since its inception was -90.99%, which is greater than SLVP's maximum drawdown of -80.47%. Use the drawdown chart below to compare losses from any high point for SA and SLVP.
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Drawdown Indicators
| SA | SLVP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -90.99% | -80.47% | -10.52% |
Max Drawdown (1Y)Largest decline over 1 year | -37.92% | -38.97% | +1.05% |
Max Drawdown (3Y)Largest decline over 3 years | -52.51% | -38.97% | -13.54% |
Max Drawdown (5Y)Largest decline over 5 years | -56.12% | -47.73% | -8.39% |
Max Drawdown (10Y)Largest decline over 10 years | -61.10% | -62.03% | +0.93% |
Current DrawdownCurrent decline from peak | -32.83% | -35.76% | +2.93% |
Average DrawdownAverage peak-to-trough decline | -51.17% | -46.67% | -4.50% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 19.11% | 19.11% | 0.00% |
Volatility
SA vs. SLVP - Volatility Comparison
Seabridge Gold Inc. (SA) has a higher volatility of 17.16% compared to iShares MSCI Global Silver and Metals Miners ETF (SLVP) at 14.01%. This indicates that SA's price experiences larger fluctuations and is considered to be riskier than SLVP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SA | SLVP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 17.16% | 14.01% | +3.15% |
Volatility (6M)Calculated over the trailing 6-month period | 52.50% | 42.41% | +10.09% |
Volatility (1Y)Calculated over the trailing 1-year period | 68.05% | 56.52% | +11.53% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 52.32% | 43.65% | +8.67% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 51.68% | 42.52% | +9.16% |
Dividends
SA vs. SLVP - Dividend Comparison
SA has not paid dividends to shareholders, while SLVP's dividend yield for the trailing twelve months is around 2.31%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
SLVP iShares MSCI Global Silver and Metals Miners ETF | 2.31% | 1.78% | 1.05% | 0.88% | 0.63% | 1.63% | 2.39% | 2.03% | 1.28% | 0.85% | 2.32% | 0.72% |
Frequently Asked Questions
SA and SLVP have a correlation of 0.83, 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 SLVP (14.01%). In terms of maximum drawdown, SA dropped -90.99% vs SLVP's -80.47%.
SLVP currently has the higher Sharpe Ratio (1.37 vs 1.08), 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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