GDX vs IDR: Correlation
VanEck Gold Miners ETF (GDX) and Idaho Strategic Resources, Inc. (IDR) show a moderate relationship: their 3-year correlation of weekly returns is 0.58.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GDX and IDR?
On 3 years of weekly data the GDX/IDR correlation comes out at 0.58, moderate. The past 12 months show a tighter link (0.74) than the 3-year average (0.58). The 5-year figure is 0.42, and annualized covariance runs at 1757.1 %².
By 3-year correlation, IDR places #59 of the 78 assets tracked against GDX. Correlation aside, the last 12 months split them widely, with GDX ahead by 43.6 points (+69.9% versus +26.3%). Risk is not evenly split, since IDR carries 1.8 times the volatility of the other side.
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.
GDX vs IDR: side by side
| GDX (VanEck Gold Miners ETF) | IDR (Idaho Strategic Resources, Inc.) | |
|---|---|---|
| 1-year return | +69.9% | +26.3% |
| 5-year return | +245.5% | +702.8% |
| Volatility (ann.) | 40.9% | 73.6% |
| Beta vs S&P 500 | 0.88 | 0.68 |
| Max drawdown (3Y) | -38.9% | -50.0% |
| Market cap | – | $0.5B |
| P/E (trailing) | – | 22.6 |
| Dividend yield | – | 0.00% |
| Sector / category | ETF · Commodities | US Listed |
Year-by-year returns
| Year | GDX | IDR |
|---|---|---|
| 2022 | -9.0% | -23.4% |
| 2023 | +10.0% | +11.1% |
| 2024 | +10.6% | +61.0% |
| 2025 | +154.8% | +295.5% |
| 2026 | +20.9% | -16.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GDX and IDR good diversifiers for each other?
Somewhat, no more. With 0.58 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between GDX and IDR?
The GDX/IDR correlation stands at 0.58 on a 3-year window (1 year: 0.74, 5 years: 0.42), computed from weekly returns as of 2026-08-27.
Is IDR a good diversifier for GDX?
Somewhat, no more. With 0.58 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.58 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/gdx-vs-idr.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/gdx-vs-idr/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: GDX correlations · IDR correlations
