GORO vs XEL: Correlation
Measured on weekly returns over the past three years, Goldgroup Mining Inc. (GORO) and Xcel Energy (XEL) carry a correlation of -0.30, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GORO and XEL?
Across a 3-year window, the weekly returns of GORO and XEL correlate at -0.30, negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.12) than the 3-year average (-0.30). Stretching to 5 years gives -0.20, with an annualized covariance of -945.0 %².
XEL is close to the least connected end of GORO's tracked universe, ranking #12 of 12. Over the last 12 months GORO came out ahead by 12.3 percentage points (+21.5% against +9.2%). Risk is not evenly split, since GORO carries 7.4 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.
GORO vs XEL: side by side
| GORO (Goldgroup Mining Inc.) | XEL (Xcel Energy) | |
|---|---|---|
| 1-year return | +21.5% | +9.2% |
| 5-year return | +215.8% | +31.1% |
| Volatility (ann.) | 154.1% | 20.7% |
| Beta vs S&P 500 | 1.39 | 0.09 |
| Max drawdown (3Y) | -75.0% | -24.0% |
| Market cap | $0.5B | $48.2B |
| P/E (trailing) | – | 21.3 |
| Dividend yield | 0.00% | 2.99% |
| Sector / category | US Listed | Utilities |
Year-by-year returns
| Year | GORO | XEL |
|---|---|---|
| 2022 | -73.3% | +6.4% |
| 2023 | -75.0% | -8.7% |
| 2024 | +450.0% | +12.3% |
| 2025 | +936.4% | +13.9% |
| 2026 | -16.9% | +6.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GORO and XEL good diversifiers for each other?
Yes: at -0.30, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between GORO and XEL?
The GORO/XEL correlation stands at -0.30 on a 3-year window (1 year: -0.12, 5 years: -0.20), computed from weekly returns as of 2026-08-27.
Is XEL a good diversifier for GORO?
Yes: at -0.30, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.30 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/goro-vs-xel.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/goro-vs-xel/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: GORO correlations · XEL correlations
