GDX vs MOBX: Correlation
How closely do VanEck Gold Miners ETF (GDX) and Mobix Labs, Inc. (MOBX) trade together? Their weekly returns over three years give a correlation of -0.18, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GDX and MOBX?
On 3 years of weekly data the GDX/MOBX correlation comes out at -0.18, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.24) sits close to the 3-year figure. The 5-year figure is -0.14, and annualized covariance runs at -2412.0 %².
Among the 78 assets we track against GDX, MOBX ranks #70 by 3-year correlation. The last year tells two different stories: GDX led by 157.9 percentage points, +69.9% for GDX against -88.0% for MOBX. Risk is not evenly split, since MOBX carries 8.1 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 MOBX: side by side
| GDX (VanEck Gold Miners ETF) | MOBX (Mobix Labs, Inc.) | |
|---|---|---|
| 1-year return | +69.9% | -88.0% |
| 5-year return | +245.5% | -98.8% |
| Volatility (ann.) | 40.9% | 333.1% |
| Beta vs S&P 500 | 0.88 | -0.62 |
| Max drawdown (3Y) | -38.9% | -99.1% |
| Market cap | – | – |
| P/E (trailing) | – | – |
| Dividend yield | – | 0.00% |
| Sector / category | ETF · Commodities | US Listed |
Year-by-year returns
| Year | GDX | MOBX |
|---|---|---|
| 2022 | -9.0% | +3.8% |
| 2023 | +10.0% | -60.6% |
| 2024 | +10.6% | -57.7% |
| 2025 | +154.8% | -84.3% |
| 2026 | +20.9% | -57.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GDX and MOBX good diversifiers for each other?
By historical standards, yes. A correlation of -0.18 means the two rarely move for the same reasons.
FAQ
What is the correlation between GDX and MOBX?
Using weekly returns as of 2026-08-27: -0.18 over 3 years, with -0.24 over the last year and -0.14 over 5 years.
Is MOBX a good diversifier for GDX?
By historical standards, yes. A correlation of -0.18 means the two rarely move for the same reasons.
What does a correlation of -0.18 mean?
On the −1 to +1 scale, -0.18 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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[](https://www.pairbook.io/pair/gdx-vs-mobx/)
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Related comparisons
Hubs: GDX correlations · MOBX correlations
