SKE.TO vs. ELD.TO

Last updated Jun 4, 2026

SKE.TO (Skeena Resources Limited) and ELD.TO (Eldorado Gold Corporation) are both stocks. Both are in the Basic Materials sector — SKE.TO in Other Industrial Metals & Mining, ELD.TO in Gold. Over the past 10 years, SKE.TO returned 1.18%/yr vs 3.85%/yr for ELD.TO. At a 0.15 correlation, their price movements are largely independent.

Performance

SKE.TO vs. ELD.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Skeena Resources Limited (SKE.TO) and Eldorado Gold Corporation (ELD.TO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SKE.TO achieves a 24.20% return, which is significantly higher than ELD.TO's -10.72% return. Over the past 10 years, SKE.TO has underperformed ELD.TO with an annualized return of 1.18%, while ELD.TO has yielded a comparatively higher 3.85% annualized return.

SKE.TO

• 1D: -5.20%
• 1M: 1.23%
• YTD: 24.20%
• 6M: 39.91%
• 1Y: 105.64%
• 3Y*: 77.42%
• 5Y*: 22.56%
• 10Y*: 1.18%

ELD.TO

• 1D: -4.69%
• 1M: 12.31%
• YTD: -10.72%
• 6M: 2.64%
• 1Y: 53.30%
• 3Y*: 50.31%
• 5Y*: 25.74%
• 10Y*: 3.85%

*Multi-year figures are annualized to reflect compound growth (CAGR)

SKE.TO vs. ELD.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SKE.TO Skeena Resources Limited	24.20%	160.80%	93.80%	-10.54%	-45.25%	-4.29%	405.88%	126.67%	-57.14%	-91.25%
ELD.TO Eldorado Gold Corporation	-10.72%	130.73%	24.30%	52.35%	-4.81%	-29.70%	61.74%	160.75%	-56.04%	-57.65%

Correlation

The correlation between SKE.TO and ELD.TO is 0.65, 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	0.65
Correlation (3Y) Calculated over the trailing 3-year period	0.57
Correlation (5Y) Calculated over the trailing 5-year period	0.58
Correlation (10Y) Calculated over the trailing 10-year period	0.38
Correlation (All Time) Calculated using the full available price history since Oct 25, 1993	0.15

Over the past year, SKE.TO and ELD.TO have become more correlated (0.65) than their long-term average of 0.15, meaning their price movements have been converging.

Fundamentals

Market Cap SKE.TO : CA$4.92B ELD.TO : CA$8.81B
EPS SKE.TO : -CA$2.12 ELD.TO : CA$2.83
PB Ratio SKE.TO : 27.30 ELD.TO : 2.04
Total Revenue (TTM) SKE.TO : CA$0.00 ELD.TO : CA$2.00B
Gross Profit (TTM) SKE.TO : -CA$1.08M ELD.TO : CA$988.83M
EBITDA (TTM) SKE.TO : -CA$88.04M ELD.TO : CA$1.08B

Return for Risk

SKE.TO vs. ELD.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

SKE.TO

SKE.TO Risk / Return Rank: 84
SKE.TO Sharpe Ratio Rank: 87
SKE.TO Sortino Ratio Rank: 80
SKE.TO Omega Ratio Rank: 80
SKE.TO Calmar Ratio Rank: 85
SKE.TO Martin Ratio Rank: 85

ELD.TO

ELD.TO Risk / Return Rank: 68
ELD.TO Sharpe Ratio Rank: 74
ELD.TO Sortino Ratio Rank: 66
ELD.TO Omega Ratio Rank: 67
ELD.TO Calmar Ratio Rank: 66
ELD.TO Martin Ratio Rank: 67

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

SKE.TO vs. ELD.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Skeena Resources Limited (SKE.TO) and Eldorado Gold Corporation (ELD.TO). 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.

	SKE.TO	ELD.TO	Difference
Sharpe ratio Return per unit of total volatility	1.94	1.07	+0.87
Sortino ratio Return per unit of downside risk	2.32	1.55	+0.77
Omega ratio Gain probability vs. loss probability	1.30	1.21	+0.09
Calmar ratio Return relative to maximum drawdown	3.46	1.28	+2.19
Martin ratio Return relative to average drawdown	9.07	3.17	+5.90
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SKE.TO vs. ELD.TO - Sharpe Ratio Comparison

The current SKE.TO Sharpe Ratio is 1.94, which is higher than the ELD.TO Sharpe Ratio of 1.07. The chart below compares the historical Sharpe Ratios of SKE.TO and ELD.TO, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	SKE.TO	ELD.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.94	1.07	+0.87
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.41	0.59	-0.18
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.01	0.07	-0.06
Sharpe Ratio (All Time) Calculated using the full available price history	0.00	0.05	-0.05

Drawdowns

SKE.TO vs. ELD.TO - Drawdown Comparison

The maximum SKE.TO drawdown since its inception was -99.99%, roughly equal to the maximum ELD.TO drawdown of -97.76%. Use the drawdown chart below to compare losses from any high point for SKE.TO and ELD.TO.

Drawdown Indicators

	SKE.TO	ELD.TO	Difference
Max Drawdown Largest peak-to-trough decline	-99.99%	-97.76%	-2.23%
Max Drawdown (1Y) Largest decline over 1 year	-30.66%	-41.88%	+11.22%
Max Drawdown (3Y) Largest decline over 3 years	-37.92%	-41.88%	+3.96%
Max Drawdown (5Y) Largest decline over 5 years	-73.87%	-55.01%	-18.86%
Max Drawdown (10Y) Largest decline over 10 years	-98.65%	-89.46%	-9.19%
Current Drawdown Current decline from peak	-99.59%	-57.60%	-41.99%
Average Drawdown Average peak-to-trough decline	-80.46%	-61.77%	-18.69%
Ulcer Index Depth and duration of drawdowns from previous peaks	11.69%	16.87%	-5.18%

Volatility

SKE.TO vs. ELD.TO - Volatility Comparison

Skeena Resources Limited (SKE.TO) and Eldorado Gold Corporation (ELD.TO) have volatilities of 18.01% and 17.75%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SKE.TO	ELD.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	18.01%	17.75%	+0.26%
Volatility (6M) Calculated over the trailing 6-month period	41.53%	41.12%	+0.41%
Volatility (1Y) Calculated over the trailing 1-year period	55.04%	50.00%	+5.04%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	55.52%	43.73%	+11.79%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	80.57%	53.07%	+27.50%

Dividends

SKE.TO vs. ELD.TO - Dividend Comparison

SKE.TO has not paid dividends to shareholders, while ELD.TO's dividend yield for the trailing twelve months is around 0.47%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ELD.TO Eldorado Gold Corporation	0.47%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	1.10%	0.00%	0.49%
SKE.TO Skeena Resources Limited	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Financials

Frequently Asked Questions

Can I hold both SKE.TO and ELD.TO in my portfolio?

SKE.TO and ELD.TO have a correlation of 0.65, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.