AUST vs GLD: Correlation
How closely do Austin Gold Corp. (AUST) and SPDR Gold Shares (GLD) trade together? Their weekly returns over three years give a correlation of 0.53, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AUST and GLD?
Across a 3-year window, the weekly returns of AUST and GLD correlate at 0.53, moderate. Lately the two have moved closer together, with the 1-year correlation at 0.70 versus 0.53 over 3 years. Stretching to 5 years gives 0.54, with an annualized covariance of 881.3 %².
GLD is one of the assets that tracks AUST most closely: it ranks #2 out of the 13 assets we track against AUST. Their recent paths diverged sharply: over the last 12 months GLD outperformed by 55.0 percentage points (-19.9% for AUST against +35.1% for GLD). One caveat on sizing: AUST is 4.8 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
AUST vs GLD: side by side
| AUST (Austin Gold Corp.) | GLD (SPDR Gold Shares) | |
|---|---|---|
| 1-year return | -19.9% | +35.1% |
| 5-year return | -71.4% | +149.5% |
| Volatility (ann.) | 89.9% | 18.7% |
| Beta vs S&P 500 | 0.92 | 0.18 |
| Max drawdown (3Y) | -70.3% | -26.4% |
| Market cap | – | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | ETF · Commodities |
Year-by-year returns
| Year | AUST | GLD |
|---|---|---|
| 2022 | – | -0.8% |
| 2023 | -21.6% | +12.7% |
| 2024 | +69.6% | +26.7% |
| 2025 | +17.9% | +63.7% |
| 2026 | -15.5% | +6.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AUST and GLD good diversifiers for each other?
To a limited degree. At 0.53 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 AUST and GLD?
As of 2026-08-27, the correlation of weekly returns between AUST and GLD is 0.53 over 3 years, 0.70 over 1 year and 0.54 over 5 years.
Is GLD a good diversifier for AUST?
To a limited degree. At 0.53 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 0.53 mean?
A reading of 0.53 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/aust-vs-gld.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/aust-vs-gld/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: AUST correlations · GLD correlations
