TLO.TO vs. GLDM
TLO.TO (Talon Metals Corp.) is a stock, while GLDM (SPDR Gold MiniShares Trust) is Gold fund tracking the LBMA Gold Price PM. Over the past 5 years, TLO.TO returned -0.27%/yr vs 21.88%/yr for GLDM. At a 0.11 correlation, their price movements are largely independent.
Performance
TLO.TO vs. GLDM - Performance Comparison
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Different Trading Currencies
TLO.TO is traded in CAD, while GLDM is traded in USD. To make them comparable, the GLDM values have been converted to CAD using the latest available exchange rates.
Returns By Period
In the year-to-date period, TLO.TO achieves a 8.50% return, which is significantly higher than GLDM's 4.31% return.
TLO.TO
- 1D
- -6.33%
- 1M
- -5.38%
- YTD
- 8.50%
- 6M
- 37.05%
- 1Y
- 225.50%
- 3Y*
- 28.06%
- 5Y*
- -0.27%
- 10Y*
- 22.58%
GLDM
- 1D
- -0.55%
- 1M
- 0.34%
- YTD
- 4.31%
- 6M
- 5.19%
- 1Y
- 34.13%
- 3Y*
- 33.02%
- 5Y*
- 21.88%
- 10Y*
- —
TLO.TO vs. GLDM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
TLO.TO Talon Metals Corp. | 8.50% | 566.67% | -50.00% | -63.64% | -18.85% | 19.61% | 240.00% | 100.00% | -16.67% |
GLDM SPDR Gold MiniShares Trust | 4.31% | 56.67% | 38.00% | 10.55% | 6.63% | -4.88% | 22.98% | 12.29% | 4.44% |
Correlation
The correlation between TLO.TO and GLDM is 0.32, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.32 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.19 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.14 |
Correlation (All Time) Calculated using the full available price history since Jun 27, 2018 | 0.11 |
Over the past year, TLO.TO and GLDM have become more correlated (0.32) than their long-term average of 0.11, meaning their price movements have been converging.
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Return for Risk
TLO.TO vs. GLDM — Risk / Return Rank
TLO.TO
GLDM
TLO.TO vs. GLDM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Talon Metals Corp. (TLO.TO) and SPDR Gold MiniShares Trust (GLDM). 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.
| TLO.TO | GLDM | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.96 | ||
| Sortino ratioReturn per unit of downside risk | +1.42 | ||
| Omega ratioGain probability vs. loss probability | 1.35 | 1.27 | +0.08 |
| Calmar ratioReturn relative to maximum drawdown | 6.77 | 1.99 | +4.78 |
| Martin ratioReturn relative to average drawdown | 14.71 | 4.90 | +9.81 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| TLO.TO | GLDM | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.33 | 1.36 | +0.96 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.00 | 1.31 | -1.31 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.25 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.02 | 1.10 | -1.13 |
Drawdowns
TLO.TO vs. GLDM - Drawdown Comparison
The maximum TLO.TO drawdown since its inception was -98.12%, which is greater than GLDM's maximum drawdown of -22.74%. Use the drawdown chart below to compare losses from any high point for TLO.TO and GLDM.
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Drawdown Indicators
| TLO.TO | GLDM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -98.12% | -22.74% | -75.38% |
Max Drawdown (1Y)Largest decline over 1 year | -33.52% | -17.22% | -16.30% |
Max Drawdown (3Y)Largest decline over 3 years | -78.75% | -17.22% | -61.53% |
Max Drawdown (5Y)Largest decline over 5 years | -91.18% | -17.36% | -73.82% |
Max Drawdown (10Y)Largest decline over 10 years | -91.28% | — | — |
Current DrawdownCurrent decline from peak | -75.50% | -15.33% | -60.17% |
Average DrawdownAverage peak-to-trough decline | -80.78% | -7.08% | -73.70% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 15.41% | 6.98% | +8.43% |
Volatility
TLO.TO vs. GLDM - Volatility Comparison
Talon Metals Corp. (TLO.TO) has a higher volatility of 19.13% compared to SPDR Gold MiniShares Trust (GLDM) at 5.33%. This indicates that TLO.TO's price experiences larger fluctuations and is considered to be riskier than GLDM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TLO.TO | GLDM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 19.13% | 5.33% | +13.80% |
Volatility (6M)Calculated over the trailing 6-month period | 62.42% | 21.65% | +40.77% |
Volatility (1Y)Calculated over the trailing 1-year period | 97.64% | 25.17% | +72.47% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 77.89% | 16.78% | +61.11% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 102.04% | 16.14% | +85.90% |
Dividends
TLO.TO vs. GLDM - Dividend Comparison
Neither TLO.TO nor GLDM has paid dividends to shareholders.
Frequently Asked Questions
TLO.TO and GLDM have a correlation of 0.32, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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