BAR vs GLD: Correlation
GraniteShares Gold Trust Shares of Beneficial Interest (BAR) and SPDR Gold Shares (GLD) show a very strong relationship: their 3-year correlation of weekly returns is 1.00.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BAR and GLD?
Over the past 3 years, BAR and GLD moved with a correlation of 1.00, which is very strong, meaning they move nearly in lockstep. Recent behaviour matches the longer record: 1.00 over 1 year against 1.00 over 3. Over 5 years the correlation is 1.00, and the annualized covariance of weekly returns is 347.6 %².
GLD is one of the assets that tracks BAR most closely: it ranks #1 out of the 14 assets we track against BAR. Neither side won the trailing year by much: +35.5% against +35.1%.
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.
BAR vs GLD: side by side
| BAR (GraniteShares Gold Trust Shares of Beneficial Interest) | GLD (SPDR Gold Shares) | |
|---|---|---|
| 1-year return | +35.5% | +35.1% |
| 5-year return | +152.4% | +149.5% |
| Volatility (ann.) | 18.6% | 18.7% |
| Beta vs S&P 500 | 0.17 | 0.18 |
| Max drawdown (3Y) | -26.3% | -26.4% |
| Sector / category | US Listed | ETF · Commodities |
Year-by-year returns
| Year | BAR | GLD |
|---|---|---|
| 2022 | -0.6% | -0.8% |
| 2023 | +13.0% | +12.7% |
| 2024 | +27.0% | +26.7% |
| 2025 | +64.1% | +63.7% |
| 2026 | +6.8% | +6.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BAR and GLD good diversifiers for each other?
No: a correlation of 1.00 means BAR and GLD tend to fall together, which is precisely when diversification is supposed to help.
FAQ
What is the correlation between BAR and GLD?
As of 2026-08-27, the correlation of weekly returns between BAR and GLD is 1.00 over 3 years, 1.00 over 1 year and 1.00 over 5 years.
Is GLD a good diversifier for BAR?
No: a correlation of 1.00 means BAR and GLD tend to fall together, which is precisely when diversification is supposed to help.
What does a correlation of 1.00 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/bar-vs-gld.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/bar-vs-gld/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: BAR correlations · GLD correlations
