FG vs GLD: Correlation
F&G Annuities & Life, Inc. (FG) and SPDR Gold Shares (GLD) show a negative relationship: their 3-year correlation of weekly returns is -0.21.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FG and GLD?
Across a 3-year window, the weekly returns of FG and GLD correlate at -0.21, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.31) sits close to the 3-year figure. Stretching to 5 years gives -0.23, with an annualized covariance of -165.7 %².
GLD is close to the least connected end of FG's tracked universe, ranking #9 of 13. Correlation aside, the last 12 months split them widely, with GLD ahead by 64.8 points (-29.7% versus +35.1%). One caveat on sizing: FG is 2.2 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.
FG vs GLD: side by side
| FG (F&G Annuities & Life, Inc.) | GLD (SPDR Gold Shares) | |
|---|---|---|
| 1-year return | -29.7% | +35.1% |
| 5-year return | n/a | +149.5% |
| Volatility (ann.) | 42.0% | 18.7% |
| Beta vs S&P 500 | 1.02 | 0.18 |
| Max drawdown (3Y) | -56.2% | -26.4% |
| Market cap | $3.1B | – |
| P/E (trailing) | 7.7 | – |
| Dividend yield | 4.27% | – |
| Sector / category | US Listed | ETF · Commodities |
Year-by-year returns
| Year | FG | GLD |
|---|---|---|
| 2022 | – | -0.8% |
| 2023 | +137.1% | +12.7% |
| 2024 | -8.0% | +26.7% |
| 2025 | -23.6% | +63.7% |
| 2026 | -22.0% | +6.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FG and GLD good diversifiers for each other?
Yes: at -0.21, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between FG and GLD?
The FG/GLD correlation stands at -0.21 on a 3-year window (1 year: -0.31, 5 years: -0.23), computed from weekly returns as of 2026-08-27.
Is GLD a good diversifier for FG?
Yes: at -0.21, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.21 mean?
A reading of -0.21 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/fg-vs-gld.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/fg-vs-gld/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: FG correlations · GLD correlations
