GDX vs ITRG: Correlation
VanEck Gold Miners ETF (GDX) and Integra Resources Corp. (ITRG) show a strong relationship: their 3-year correlation of weekly returns is 0.73.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GDX and ITRG?
On 3 years of weekly data the GDX/ITRG correlation comes out at 0.73, strong. The link has tightened recently: the 1-year correlation (0.86) runs above the 3-year figure (0.73). The 5-year figure is 0.41, and annualized covariance runs at 1878.2 %².
By 3-year correlation, ITRG places #37 of the 78 assets tracked against GDX. The last year tells two different stories: GDX led by 30.6 percentage points, +69.9% for GDX against +39.3% for ITRG. One caveat on sizing: ITRG is 1.5 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.
GDX vs ITRG: side by side
| GDX (VanEck Gold Miners ETF) | ITRG (Integra Resources Corp.) | |
|---|---|---|
| 1-year return | +69.9% | +39.3% |
| 5-year return | +245.5% | +6.9% |
| Volatility (ann.) | 40.9% | 63.1% |
| Beta vs S&P 500 | 0.88 | 1.11 |
| Max drawdown (3Y) | -38.9% | -55.8% |
| Market cap | – | $0.6B |
| P/E (trailing) | – | 73.5 |
| Dividend yield | – | 0.00% |
| Sector / category | ETF · Commodities | US Listed |
Year-by-year returns
| Year | GDX | ITRG |
|---|---|---|
| 2022 | -9.0% | -70.6% |
| 2023 | +10.0% | +67.5% |
| 2024 | +10.6% | -17.9% |
| 2025 | +154.8% | +360.9% |
| 2026 | +20.9% | -26.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GDX and ITRG good diversifiers for each other?
To a limited degree. At 0.73 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 GDX and ITRG?
As of 2026-08-27, the correlation of weekly returns between GDX and ITRG is 0.73 over 3 years, 0.86 over 1 year and 0.41 over 5 years.
Is ITRG a good diversifier for GDX?
To a limited degree. At 0.73 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 0.73 mean?
On the −1 to +1 scale, 0.73 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
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Related comparisons
Hubs: GDX correlations · ITRG correlations
