GLD vs SVCO: Correlation
Measured on weekly returns over the past three years, SPDR Gold Shares (GLD) and Silvaco Group, Inc. (SVCO) carry a correlation of -0.20, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GLD and SVCO?
Across a 3-year window, the weekly returns of GLD and SVCO correlate at -0.20, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.19 over 1 year against -0.20 over 3. Stretching to 5 years gives n/a, with an annualized covariance of -314.6 %².
By 3-year correlation, SVCO places #25 of the 30 assets tracked against GLD. Over the last 12 months SVCO came out ahead by 12.1 percentage points (+35.1% against +47.2%). Note the risk asymmetry: SVCO runs 4.3 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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 SVCO: side by side
| GLD (SPDR Gold Shares) | SVCO (Silvaco Group, Inc.) | |
|---|---|---|
| 1-year return | +35.1% | +47.2% |
| 5-year return | +149.5% | n/a |
| Volatility (ann.) | 18.7% | 80.2% |
| Beta vs S&P 500 | 0.18 | 1.47 |
| Max drawdown (3Y) | -26.4% | -83.8% |
| Market cap | – | $0.2B |
| P/E (trailing) | – | – |
| Dividend yield | – | 0.00% |
| Sector / category | ETF · Commodities | US Listed |
Year-by-year returns
| Year | GLD | SVCO |
|---|---|---|
| 2022 | -0.8% | – |
| 2023 | +12.7% | – |
| 2024 | +26.7% | – |
| 2025 | +63.7% | -49.9% |
| 2026 | +6.6% | +78.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GLD and SVCO good diversifiers for each other?
By historical standards, yes. A correlation of -0.20 means the two rarely move for the same reasons.
FAQ
What is the correlation between GLD and SVCO?
The GLD/SVCO correlation stands at -0.20 on a 3-year window (1 year: -0.19, 5 years: n/a), computed from weekly returns as of 2026-08-27.
Is SVCO a good diversifier for GLD?
By historical standards, yes. A correlation of -0.20 means the two rarely move for the same reasons.
What does a correlation of -0.20 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.
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Related comparisons
Hubs: GLD correlations · SVCO correlations
