WBD vs. GLD
WBD (Warner Bros. Discovery, Inc.) is a stock, while GLD (SPDR Gold Shares) is Gold fund tracking the LBMA Gold Price PM. Over the past 10 years, WBD returned 0.50%/yr vs 12.15%/yr for GLD. At a 0.03 correlation, their price movements are largely independent.
Performance
WBD vs. GLD - Performance Comparison
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Returns By Period
In the year-to-date period, WBD achieves a -6.38% return, which is significantly lower than GLD's -2.47% return. Over the past 10 years, WBD has underperformed GLD with an annualized return of 0.50%, while GLD has yielded a comparatively higher 12.15% annualized return.
WBD
- 1D
- 0.45%
- 1M
- -0.00%
- YTD
- -6.38%
- 6M
- -10.01%
- 1Y
- 168.99%
- 3Y*
- 25.07%
- 5Y*
- -2.61%
- 10Y*
- 0.50%
GLD
- 1D
- 0.06%
- 1M
- -7.37%
- YTD
- -2.47%
- 6M
- -2.25%
- 1Y
- 22.21%
- 3Y*
- 28.89%
- 5Y*
- 17.08%
- 10Y*
- 12.15%
WBD vs. GLD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
WBD Warner Bros. Discovery, Inc. | -6.38% | 172.66% | -7.12% | 20.04% | -59.73% | -21.77% | -8.09% | 32.34% | 10.55% | -18.35% |
GLD SPDR Gold Shares | -2.47% | 63.68% | 26.66% | 12.69% | -0.77% | -4.15% | 24.81% | 17.86% | -1.94% | 12.81% |
Correlation
The correlation between WBD and GLD is 0.02, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.02 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.08 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.08 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.02 |
Correlation (All Time) Calculated using the full available price history since Jul 8, 2005 | 0.03 |
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Return for Risk
WBD vs. GLD — Risk / Return Rank
WBD
GLD
WBD vs. GLD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Warner Bros. Discovery, Inc. (WBD) 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.
| WBD | GLD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.70 | ||
| Sortino ratioReturn per unit of downside risk | +4.27 | ||
| Omega ratioGain probability vs. loss probability | 1.76 | 1.18 | +0.57 |
| Calmar ratioReturn relative to maximum drawdown | 7.82 | 0.98 | +6.84 |
| Martin ratioReturn relative to average drawdown | 22.23 | 2.81 | +19.42 |
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Drawdowns
WBD vs. GLD - Drawdown Comparison
The maximum WBD drawdown since its inception was -91.32%, which is greater than GLD's maximum drawdown of -45.56%. Use the drawdown chart below to compare losses from any high point for WBD and GLD.
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Drawdown Indicators
| WBD | GLD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -91.32% | -45.56% | -45.76% |
Max Drawdown (1Y)Largest decline over 1 year | -21.31% | -24.46% | +3.15% |
Max Drawdown (3Y)Largest decline over 3 years | -53.63% | -24.46% | -29.17% |
Max Drawdown (5Y)Largest decline over 5 years | -78.49% | -24.46% | -54.03% |
Max Drawdown (10Y)Largest decline over 10 years | -91.32% | -24.46% | -66.86% |
Current DrawdownCurrent decline from peak | -65.08% | -22.05% | -43.03% |
Average DrawdownAverage peak-to-trough decline | -37.14% | -16.16% | -20.98% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.48% | 8.49% | -1.01% |
Volatility
WBD vs. GLD - Volatility Comparison
The current volatility for Warner Bros. Discovery, Inc. (WBD) is 4.77%, while SPDR Gold Shares (GLD) has a volatility of 7.79%. This indicates that WBD experiences smaller price fluctuations and is considered to be less risky than GLD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| WBD | GLD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.77% | 7.79% | -3.02% |
Volatility (6M)Calculated over the trailing 6-month period | 11.46% | 24.10% | -12.64% |
Volatility (1Y)Calculated over the trailing 1-year period | 46.82% | 27.37% | +19.45% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 52.71% | 18.22% | +34.49% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 47.14% | 16.08% | +31.06% |
Dividends
WBD vs. GLD - Dividend Comparison
Neither WBD nor GLD has paid dividends to shareholders.
Frequently Asked Questions
WBD and GLD have a correlation of 0.02, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GLD has higher volatility (7.79%) compared to WBD (4.77%). In terms of maximum drawdown, WBD dropped -91.32% vs GLD's -45.56%.
WBD currently has the higher Sharpe Ratio (3.57 vs 0.87), 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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