AU vs GLD: Correlation
AngloGold Ashanti PLC (AU) and SPDR Gold Shares (GLD) show a strong relationship: their 3-year correlation of weekly returns is 0.78.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AU and GLD?
Across a 3-year window, the weekly returns of AU and GLD correlate at 0.78, strong. Recent behaviour matches the longer record: 0.79 over 1 year against 0.78 over 3. Stretching to 5 years gives 0.78, with an annualized covariance of 824.6 %².
By 3-year correlation, GLD places #7 of the 13 assets tracked against AU. Correlation aside, the last 12 months split them widely, with AU ahead by 88.7 points (+123.8% versus +35.1%). Note the risk asymmetry: AU runs 3.0 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
How is this computed?
Pearson correlation on weekly returns: ρ(A,B) = cov(rA, rB) / (σA · σB), over windows of 52, 156 and 260 weeks. Covariance is annualized (×52) and expressed in %². Full definitions on the methodology page.
AU vs GLD: side by side
| AU (AngloGold Ashanti PLC) | GLD (SPDR Gold Shares) | |
|---|---|---|
| 1-year return | +123.8% | +35.1% |
| 5-year return | +725.4% | +149.5% |
| Volatility (ann.) | 56.7% | 18.7% |
| Beta vs S&P 500 | 0.92 | 0.18 |
| Max drawdown (3Y) | -39.9% | -26.4% |
| Market cap | $59.9B | – |
| P/E (trailing) | 15.8 | – |
| Dividend yield | 3.83% | – |
| Sector / category | US Listed | ETF · Commodities |
Year-by-year returns
| Year | AU | GLD |
|---|---|---|
| 2022 | -5.1% | -0.8% |
| 2023 | -2.7% | +12.7% |
| 2024 | +26.5% | +26.7% |
| 2025 | +288.2% | +63.7% |
| 2026 | +43.8% | +6.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AU and GLD good diversifiers for each other?
To a limited degree. At 0.78 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between AU and GLD?
The AU/GLD correlation stands at 0.78 on a 3-year window (1 year: 0.79, 5 years: 0.78), computed from weekly returns as of 2026-08-27.
Is GLD a good diversifier for AU?
To a limited degree. At 0.78 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.78 mean?
On the −1 to +1 scale, 0.78 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/au-vs-gld.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/au-vs-gld/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: AU correlations · GLD correlations
