AEI vs DNN: Correlation
How closely do Alset Inc. (AEI) and Denison Mines Corp (DNN) trade together? Their weekly returns over three years give a correlation of 0.34, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AEI and DNN?
On 3 years of weekly data the AEI/DNN correlation comes out at 0.34, moderate. Little has changed lately, as the 1-year reading of 0.27 lands near the 3-year figure. The 5-year figure is 0.37, and annualized covariance runs at 1985.4 %².
Among the 14 assets we track against AEI, DNN ranks #5 by 3-year correlation. The last year tells two different stories: DNN led by 67.7 percentage points, +1.4% for AEI against +69.1% for DNN. One caveat on sizing: AEI is 1.9 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.
AEI vs DNN: side by side
| AEI (Alset Inc.) | DNN (Denison Mines Corp) | |
|---|---|---|
| 1-year return | +1.4% | +69.1% |
| 5-year return | -96.4% | +211.0% |
| Volatility (ann.) | 106.1% | 55.6% |
| Beta vs S&P 500 | 1.79 | 1.35 |
| Max drawdown (3Y) | -76.1% | -52.5% |
| Market cap | $0.1B | $3.3B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AEI | DNN |
|---|---|---|
| 2022 | -79.4% | -16.1% |
| 2023 | -55.2% | +53.9% |
| 2024 | -1.0% | +1.7% |
| 2025 | +237.3% | +47.8% |
| 2026 | -57.3% | +38.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AEI and DNN good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.34 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between AEI and DNN?
Using weekly returns as of 2026-08-27: 0.34 over 3 years, with 0.27 over the last year and 0.37 over 5 years.
Is DNN a good diversifier for AEI?
Yes, to a useful degree: a correlation of 0.34 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.34 mean?
On the −1 to +1 scale, 0.34 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.
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Related comparisons
Hubs: AEI correlations · DNN correlations
