WGX.AX vs. KCN.AX

Last updated Jun 4, 2026

WGX.AX (Westgold Resources Limited) and KCN.AX (Kingsgate Consolidated Limited) are both stocks. Both operate in the Gold industry within the Basic Materials sector. Over the past 5 years, WGX.AX returned 20.02%/yr vs 44.48%/yr for KCN.AX. At a 0.27 correlation, their price movements are largely independent.

Performance

WGX.AX vs. KCN.AX - Performance Comparison

The chart below illustrates the hypothetical performance of a A$10,000 investment in Westgold Resources Limited (WGX.AX) and Kingsgate Consolidated Limited (KCN.AX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, WGX.AX achieves a -18.48% return, which is significantly lower than KCN.AX's -1.59% return.

WGX.AX

• 1D: -0.19%
• 1M: -3.67%
• YTD: -18.48%
• 6M: -11.76%
• 1Y: 66.43%
• 3Y*: 49.13%
• 5Y*: 20.02%
• 10Y*: —

KCN.AX

• 1D: -9.02%
• 1M: -10.80%
• YTD: -1.59%
• 6M: 16.89%
• 1Y: 160.12%
• 3Y*: 62.55%
• 5Y*: 44.48%
• 10Y*: 29.74%

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

WGX.AX vs. KCN.AX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
WGX.AX Westgold Resources Limited	-18.48%	129.40%	30.98%	149.14%	-57.11%	-21.79%	15.28%	160.23%	-50.28%	7.27%
KCN.AX Kingsgate Consolidated Limited	-1.59%	338.13%	-6.55%	-20.29%	-11.08%	112.02%	117.86%	162.50%	-60.00%	40.35%

Correlation

The correlation between WGX.AX and KCN.AX is 0.53, 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	0.53
Correlation (3Y) Calculated over the trailing 3-year period	0.45
Correlation (5Y) Calculated over the trailing 5-year period	0.40
Correlation (All Time) Calculated using the full available price history since Dec 7, 2016	0.27

Over the past year, WGX.AX and KCN.AX have become more correlated (0.53) than their long-term average of 0.27, meaning their price movements have been converging.

Return for Risk

WGX.AX vs. KCN.AX — Risk / Return Rank

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

WGX.AX

WGX.AX Risk / Return Rank: 73
WGX.AX Sharpe Ratio Rank: 77
WGX.AX Sortino Ratio Rank: 72
WGX.AX Omega Ratio Rank: 71
WGX.AX Calmar Ratio Rank: 71
WGX.AX Martin Ratio Rank: 72

KCN.AX

KCN.AX Risk / Return Rank: 87
KCN.AX Sharpe Ratio Rank: 91
KCN.AX Sortino Ratio Rank: 84
KCN.AX Omega Ratio Rank: 85
KCN.AX Calmar Ratio Rank: 86
KCN.AX Martin Ratio Rank: 90

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.

WGX.AX vs. KCN.AX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Westgold Resources Limited (WGX.AX) and Kingsgate Consolidated Limited (KCN.AX). 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.

	WGX.AX	KCN.AX	Difference
Sharpe ratio: Return per unit of total volatility	1.23	2.36	-1.13
Sortino ratio: Return per unit of downside risk	1.81	2.62	-0.81
Omega ratio: Gain probability vs. loss probability	1.23	1.35	-0.12
Calmar ratio: Return relative to maximum drawdown	1.66	3.67	-2.00
Martin ratio: Return relative to average drawdown	4.08	12.46	-8.38
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

WGX.AX vs. KCN.AX - Sharpe Ratio Comparison

The current WGX.AX Sharpe Ratio is 1.23, which is lower than the KCN.AX Sharpe Ratio of 2.36. The chart below compares the historical Sharpe Ratios of WGX.AX and KCN.AX, 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

	WGX.AX	KCN.AX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.23	2.36	-1.13
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.37	0.69	-0.32
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.47	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.24	0.14	+0.10

Drawdowns

WGX.AX vs. KCN.AX - Drawdown Comparison

The maximum WGX.AX drawdown since its inception was -74.78%, smaller than the maximum KCN.AX drawdown of -98.66%. Use the drawdown chart below to compare losses from any high point for WGX.AX and KCN.AX.

Drawdown Indicators

	WGX.AX	KCN.AX	Difference
Max Drawdown Largest peak-to-trough decline	-74.78%	-98.66%	+23.88%
Max Drawdown (1Y) Largest decline over 1 year	-39.50%	-43.14%	+3.64%
Max Drawdown (3Y) Largest decline over 3 years	-39.50%	-43.14%	+3.64%
Max Drawdown (5Y) Largest decline over 5 years	-70.61%	-53.93%	-16.68%
Max Drawdown (10Y) Largest decline over 10 years	—	-70.71%	—
Current Drawdown Current decline from peak	-34.78%	-48.71%	+13.93%
Average Drawdown Average peak-to-trough decline	-29.31%	-56.18%	+26.87%
Ulcer Index Depth and duration of drawdowns from previous peaks	16.17%	12.74%	+3.43%

Volatility

WGX.AX vs. KCN.AX - Volatility Comparison

The current volatility for Westgold Resources Limited (WGX.AX) is 14.94%, while Kingsgate Consolidated Limited (KCN.AX) has a volatility of 24.01%. This indicates that WGX.AX experiences smaller price fluctuations and is considered to be less risky than KCN.AX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	WGX.AX	KCN.AX	Difference
Volatility (1M) Calculated over the trailing 1-month period	14.94%	24.01%	-9.07%
Volatility (6M) Calculated over the trailing 6-month period	40.21%	53.48%	-13.27%
Volatility (1Y) Calculated over the trailing 1-year period	53.62%	67.01%	-13.39%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	53.61%	63.90%	-10.29%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	53.22%	63.08%	-9.86%

Dividends

WGX.AX vs. KCN.AX - Dividend Comparison

WGX.AX's dividend yield for the trailing twelve months is around 0.57%, less than KCN.AX's 1.83% yield.

Position	TTM	2025	2024	2023	2022	2021
KCN.AX Kingsgate Consolidated Limited	1.83%	0.00%	0.00%	0.00%	0.00%	0.00%
WGX.AX Westgold Resources Limited	0.57%	0.47%	0.80%	0.00%	0.00%	0.98%

Financials

Frequently Asked Questions

Can I hold both WGX.AX and KCN.AX in my portfolio?

WGX.AX and KCN.AX have a correlation of 0.53, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.