GGN vs IAUX: Correlation
GAMCO Global Gold, Natural Resources & Income Trust (GGN) and i-80 Gold Corp. (IAUX) 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 GGN and IAUX?
Across a 3-year window, the weekly returns of GGN and IAUX correlate at 0.58, moderate. The past 12 months show a tighter link (0.83) than the 3-year average (0.58). Stretching to 5 years gives 0.55, with an annualized covariance of 984.7 %².
Within GGN's tracked universe of 17 assets, IAUX comes in at #11 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months IAUX outperformed by 123.7 percentage points (+28.6% for GGN against +152.3% for IAUX). One caveat on sizing: IAUX is 4.9 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.
GGN vs IAUX: side by side
| GGN (GAMCO Global Gold, Natural Resources & Income Trust) | IAUX (i-80 Gold Corp.) | |
|---|---|---|
| 1-year return | +28.6% | +152.3% |
| 5-year return | +128.2% | -7.4% |
| Volatility (ann.) | 18.5% | 91.2% |
| Beta vs S&P 500 | 0.36 | 1.99 |
| Max drawdown (3Y) | -16.9% | -82.6% |
| Market cap | – | $1.7B |
| P/E (trailing) | 2.8 | – |
| Dividend yield | 6.36% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | GGN | IAUX |
|---|---|---|
| 2022 | +6.8% | +15.0% |
| 2023 | +14.1% | -37.6% |
| 2024 | +9.6% | -72.4% |
| 2025 | +48.2% | +201.0% |
| 2026 | +15.4% | +31.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GGN and IAUX good diversifiers for each other?
To a limited degree. At 0.58 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 GGN and IAUX?
Using weekly returns as of 2026-08-27: 0.58 over 3 years, with 0.83 over the last year and 0.55 over 5 years.
Is IAUX a good diversifier for GGN?
To a limited degree. At 0.58 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 0.58 mean?
On the −1 to +1 scale, 0.58 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: GGN correlations · IAUX correlations
