GLD vs IAG: Correlation
Measured on weekly returns over the past three years, SPDR Gold Shares (GLD) and Iamgold Corporation (IAG) carry a correlation of 0.75, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GLD and IAG?
On 3 years of weekly data the GLD/IAG correlation comes out at 0.75, strong. Recent behaviour matches the longer record: 0.82 over 1 year against 0.75 over 3. The 5-year figure is 0.69, and annualized covariance runs at 861.9 %².
By 3-year correlation, IAG places #14 of the 30 assets tracked against GLD. Correlation aside, the last 12 months split them widely, with IAG ahead by 100.1 points (+35.1% versus +135.2%). Risk is not evenly split, since IAG carries 3.3 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.
GLD vs IAG: side by side
| GLD (SPDR Gold Shares) | IAG (Iamgold Corporation) | |
|---|---|---|
| 1-year return | +35.1% | +135.2% |
| 5-year return | +149.5% | +832.5% |
| Volatility (ann.) | 18.7% | 61.7% |
| Beta vs S&P 500 | 0.18 | 1.24 |
| Max drawdown (3Y) | -26.4% | -43.3% |
| Market cap | – | $12.3B |
| P/E (trailing) | – | 10.9 |
| Dividend yield | – | 0.00% |
| Sector / category | ETF · Commodities | US Listed |
Year-by-year returns
| Year | GLD | IAG |
|---|---|---|
| 2022 | -0.8% | -17.6% |
| 2023 | +12.7% | -1.9% |
| 2024 | +26.7% | +104.0% |
| 2025 | +63.7% | +219.6% |
| 2026 | +6.6% | +30.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GLD and IAG good diversifiers for each other?
Somewhat, no more. With 0.75 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between GLD and IAG?
The GLD/IAG correlation stands at 0.75 on a 3-year window (1 year: 0.82, 5 years: 0.69), computed from weekly returns as of 2026-08-27.
Is IAG a good diversifier for GLD?
Somewhat, no more. With 0.75 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.75 mean?
On the −1 to +1 scale, 0.75 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
$ curl https://www.pairbook.io/api/v1/pairs/gld-vs-iag.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/gld-vs-iag/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: GLD correlations · IAG correlations
