UCG.MI vs. GLD
UCG.MI (UniCredit S.p.A.) is a stock, while GLD (SPDR Gold Shares) is Gold fund tracking the LBMA Gold Price PM. Over the past 10 years, UCG.MI returned 33.60%/yr vs 11.80%/yr for GLD. At a correlation of -0.09, they often move in opposite directions.
Performance
UCG.MI vs. GLD - Performance Comparison
Loading charts...
Different Trading Currencies
UCG.MI is traded in EUR, while GLD is traded in USD. To make them comparable, the GLD values have been converted to EUR using the latest available exchange rates.
Returns By Period
In the year-to-date period, UCG.MI achieves a 5.89% return, which is significantly higher than GLD's -0.96% return. Over the past 10 years, UCG.MI has outperformed GLD with an annualized return of 33.60%, while GLD has yielded a comparatively lower 11.80% annualized return.
UCG.MI
- 1D
- 4.10%
- 1M
- 1.31%
- YTD
- 5.89%
- 6M
- 11.29%
- 1Y
- 36.86%
- 3Y*
- 66.44%
- 5Y*
- 54.62%
- 10Y*
- 33.60%
GLD
- 1D
- 0.14%
- 1M
- -8.72%
- YTD
- -0.96%
- 6M
- -0.80%
- 1Y
- 22.03%
- 3Y*
- 25.93%
- 5Y*
- 18.15%
- 10Y*
- 11.80%
UCG.MI vs. GLD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
UCG.MI UniCredit S.p.A. | 5.89% | 94.09% | 69.10% | 95.01% | 3.82% | 79.52% | -41.24% | 34.49% | -35.37% | 126.88% |
GLD SPDR Gold Shares | -0.96% | 44.25% | 35.02% | 9.31% | 5.38% | 3.02% | 14.53% | 20.52% | 2.66% | -1.05% |
Correlation
The correlation between UCG.MI and GLD is 0.15, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.15 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.03 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.05 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.11 |
Correlation (All Time) Calculated using the full available price history since Sep 5, 2007 | -0.09 |
The correlation between UCG.MI and GLD shifts across timeframes, from -0.11 (10 years) to 0.15 (1 year), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
UCG.MI vs. GLD — Risk / Return Rank
UCG.MI
GLD
UCG.MI vs. GLD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for UniCredit S.p.A. (UCG.MI) and SPDR Gold Shares (GLD). 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.
| UCG.MI | GLD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.18 | ||
| Sortino ratioReturn per unit of downside risk | +0.45 | ||
| Omega ratioGain probability vs. loss probability | 1.20 | 1.20 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 1.44 | 1.07 | +0.37 |
| Martin ratioReturn relative to average drawdown | 4.03 | 3.09 | +0.93 |
Loading charts...
Drawdowns
UCG.MI vs. GLD - Drawdown Comparison
The maximum UCG.MI drawdown since its inception was -93.56%, which is greater than GLD's maximum drawdown of -37.47%. Use the drawdown chart below to compare losses from any high point for UCG.MI and GLD.
Loading charts...
Drawdown Indicators
| UCG.MI | GLD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -93.56% | -37.47% | -56.09% |
Max Drawdown (1Y)Largest decline over 1 year | -24.17% | -22.53% | -1.64% |
Max Drawdown (3Y)Largest decline over 3 years | -24.17% | -22.53% | -1.64% |
Max Drawdown (5Y)Largest decline over 5 years | -46.40% | -22.53% | -23.87% |
Max Drawdown (10Y)Largest decline over 10 years | -65.16% | -22.53% | -42.63% |
Current DrawdownCurrent decline from peak | -4.50% | -20.28% | +15.78% |
Average DrawdownAverage peak-to-trough decline | -65.98% | -12.19% | -53.79% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 8.66% | 7.79% | +0.87% |
Volatility
UCG.MI vs. GLD - Volatility Comparison
UniCredit S.p.A. (UCG.MI) has a higher volatility of 8.15% compared to SPDR Gold Shares (GLD) at 6.93%. This indicates that UCG.MI's price experiences larger fluctuations and is considered to be riskier than GLD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| UCG.MI | GLD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.15% | 6.93% | +1.22% |
Volatility (6M)Calculated over the trailing 6-month period | 24.82% | 22.61% | +2.21% |
Volatility (1Y)Calculated over the trailing 1-year period | 31.19% | 25.86% | +5.33% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 35.81% | 16.91% | +18.90% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 48.06% | 15.02% | +33.04% |
Dividends
UCG.MI vs. GLD - Dividend Comparison
UCG.MI's dividend yield for the trailing twelve months is around 4.30%, while GLD has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GLD SPDR Gold Shares | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
UCG.MI UniCredit S.p.A. | 4.30% | 4.10% | 7.08% | 4.02% | 4.05% | 0.89% | 0.00% | 2.07% | 3.24% | 0.00% | 0.88% | 0.47% |
Frequently Asked Questions
UCG.MI and GLD have a correlation of 0.15, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
Find the right allocation for UCG.MI and GLD
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer