SPDR Gold Shares vs iShares Silver Trust

The price ratio is currently above its 50-day moving average, indicating GLD has been gaining relative ground recently. The ratio is near its 50-day average, suggesting no significant relative extension. The z-score of -1.49 shows a notable deviation from the long-term average.

Performance is mixed across timeframes, with no clear consistent leader between GLD and SLV. Watch for a breakout in relative momentum.

These two assets have a moderate positive long-term correlation of 0.76. The short-term and long-term correlations are closely aligned at 0.84 and 0.76, indicating a stable relationship. High correlation means these assets offer limited diversification benefit when held together.

GLD has a stronger flow score (50/100 vs 27/100), indicating more consistent accumulation pressure. This is confirmed by Chaikin Money Flow, with GLD showing net inflow (0.07) while SLV shows net outflow (-0.01). Both assets are trading on below-average volume, which means current flow readings should be interpreted with caution.

Both assets show similar trend momentum (67/100 vs 73/100), indicating neither has a clear directional edge. GLD carries a better risk profile (86/100 vs 71/100), with lower overall risk metrics. SLV is 2.7x more volatile than GLD on a 21-day basis (154.6% vs 57.1%), which means larger price swings in either direction. SLV has experienced a deeper maximum drawdown over the past year (37.1% vs 13.9%), indicating higher tail risk. With a 63-day correlation of 0.84, these assets tend to move together — meaning the risk characteristics above are likely to manifest in tandem.

GLD is currently gaining ground against SLV, with the price ratio at 5.94 versus its 50-day average of 5.90. The 200-day z-score of -1.49 is notably extended, suggesting SLV may be stretched relative to GLD. On a flow basis, GLD shows stronger capital accumulation (50 vs 27). GLD carries lower short-term volatility (+57.1% vs +154.6% 21-day), with max drawdowns of -13.9% and -37.1% respectively. With a 63-day correlation of 0.84, these assets move closely together — limiting diversification benefit. Monitor the ratio trend and flow divergence for early signals of a shift in relative leadership.