DOW vs GLDG: Correlation
How closely do Dow Inc. (DOW) and GoldMining Inc. (GLDG) trade together? Their weekly returns over three years give a correlation of -0.16, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DOW and GLDG?
Across a 3-year window, the weekly returns of DOW and GLDG correlate at -0.16, negative, meaning they tend to move in opposite directions. The link has loosened recently: the 1-year correlation (-0.29) runs below the 3-year figure (-0.16). Stretching to 5 years gives -0.01, with an annualized covariance of -292.6 %².
Within DOW's tracked universe of 32 assets, GLDG comes in at #24 by 3-year correlation. The trailing year gives DOW the advantage: +29.0% versus +22.6%, a 6.4-point spread.
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.
DOW vs GLDG: side by side
| DOW (Dow Inc.) | GLDG (GoldMining Inc.) | |
|---|---|---|
| 1-year return | +29.0% | +22.6% |
| 5-year return | -38.4% | -8.1% |
| Volatility (ann.) | 35.2% | 52.0% |
| Beta vs S&P 500 | 0.62 | 0.47 |
| Max drawdown (3Y) | -62.2% | -61.7% |
| Market cap | $21.9B | $0.2B |
| P/E (trailing) | – | – |
| Dividend yield | 4.62% | 0.00% |
| Sector / category | Materials | US Listed |
Year-by-year returns
| Year | DOW | GLDG |
|---|---|---|
| 2022 | -6.6% | -5.8% |
| 2023 | +14.7% | -14.2% |
| 2024 | -22.8% | -16.5% |
| 2025 | -37.4% | +54.3% |
| 2026 | +32.6% | -8.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DOW and GLDG good diversifiers for each other?
Yes. With a correlation of -0.16, DOW and GLDG have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between DOW and GLDG?
As of 2026-08-27, the correlation of weekly returns between DOW and GLDG is -0.16 over 3 years, -0.29 over 1 year and -0.01 over 5 years.
Is GLDG a good diversifier for DOW?
Yes. With a correlation of -0.16, DOW and GLDG have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.16 mean?
On the −1 to +1 scale, -0.16 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/dow-vs-gldg.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/dow-vs-gldg/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: DOW correlations · GLDG correlations
