GDX correlations (VanEck Gold Miners ETF)
Every correlation that matters for GDX: the assets it tracks, the ones that offset it, and where it sits among 4756 US stocks and ETFs.
Data as of 2026-08-27 · refreshed every trading day · Commodities
Volatility (ann.)
40.9%
3y weekly
Beta vs S&P 500
0.88
3y weekly
1-year return
+69.9%
price, adjusted
5-year return
+245.5%
price, adjusted
Max drawdown
-38.9%
3y, daily closes
GDX over the last 12 months, weekly closes indexed to 100 at the start.
Stocks and ETFs most correlated with GDX
| Asset | Correlation (3Y) | ||
|---|---|---|---|
| AEM | Agnico Eagle Mines Limited | 0.95 | |
| WPM | Wheaton Precious Metals Corp | 0.94 | |
| KGC | Kinross Gold Corporation | 0.92 | |
| ASA | ASA Gold and Precious Metals Limited | 0.92 | |
| B | Barrick Mining Corporation | 0.92 | |
| AGI | Alamos Gold Inc. Class A | 0.91 | |
| RGLD | Royal Gold, Inc. | 0.90 | |
| NEM | Newmont | 0.90 | |
| AU | AngloGold Ashanti PLC | 0.89 | |
| PAAS | Pan American Silver Corp. | 0.89 | |
| IAG | Iamgold Corporation | 0.88 | |
| CGAU | Centerra Gold Inc. | 0.88 | |
| TFPM | Triple Flag Precious Metals Corp. | 0.87 | |
| EGO | Eldorado Gold Corporation | 0.86 | |
| GGN | GAMCO Global Gold, Natural Resources & Income Trust | 0.85 |
Best diversifiers for GDX
The least-correlated liquid assets in our universe, meaning the ones that historically moved most independently from GDX.
| Asset | Correlation (3Y) | ||
|---|---|---|---|
| DGZ | DB Gold Short ETN due February 15, 2038 | -0.43 | |
| DZZ | DB Gold Double Short ETN due February 15, 2038 | -0.32 | |
| FNGD | MicroSectors FANG Index -3X Inverse Leveraged ETNs due | -0.25 | |
| MACI | Melar Acquisition Corp. I - Class A | -0.23 | |
| CVRX | CVRx, Inc. | -0.21 | |
| BATL | Battalion Oil Corporation | -0.21 | |
| VXX | iPath Series B S&P 500 VIX Short-Term Futures ETN | -0.20 | |
| PARR | Par Pacific Holdings, Inc. | -0.19 | |
| MOBX | Mobix Labs, Inc. | -0.18 | |
| VXZ | iPath Series B S&P 500 VIX Mid-Term Futures ETN | -0.17 |
GDX vs benchmarks
GDX vs its peers
Get GDX data as JSON
$ curl https://www.pairbook.io/api/v1/symbols/gdx.jsonCorrelations, diversifiers, beta and volatility for GDX, plus one endpoint per pair. API documentation.
