AEM vs AGI: Correlation
How closely do Agnico Eagle Mines Limited (AEM) and Alamos Gold Inc. Class A (AGI) trade together? Their weekly returns over three years give a correlation of 0.89, which is very strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AEM and AGI?
Over the past 3 years, AEM and AGI moved with a correlation of 0.89, which is very strong, meaning they move nearly in lockstep. Little has changed lately, as the 1-year reading of 0.90 lands near the 3-year figure. Over 5 years the correlation is 0.87, and the annualized covariance of weekly returns is 1683.4 %².
Few assets follow AEM as closely as AGI, which ranks #3 of 36 tracked partners. The last year tells two different stories: AEM led by 28.2 percentage points, +55.9% for AEM against +27.7% for AGI.
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.
AEM vs AGI: side by side
| AEM (Agnico Eagle Mines Limited) | AGI (Alamos Gold Inc. Class A) | |
|---|---|---|
| 1-year return | +55.9% | +27.7% |
| 5-year return | +323.8% | +404.0% |
| Volatility (ann.) | 40.9% | 46.1% |
| Beta vs S&P 500 | 0.70 | 0.76 |
| Max drawdown (3Y) | -45.8% | -49.6% |
| Market cap | $109.1B | $15.9B |
| P/E (trailing) | 18.4 | 13.5 |
| Dividend yield | 0.79% | 0.35% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AEM | AGI |
|---|---|---|
| 2022 | +1.1% | +33.1% |
| 2023 | +9.0% | +34.3% |
| 2024 | +46.0% | +37.7% |
| 2025 | +119.5% | +109.6% |
| 2026 | +27.6% | -1.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AEM and AGI good diversifiers for each other?
No. With a correlation of 0.89, AEM and AGI move nearly in lockstep, so holding both adds very little diversification.
FAQ
What is the correlation between AEM and AGI?
As of 2026-08-27, the correlation of weekly returns between AEM and AGI is 0.89 over 3 years, 0.90 over 1 year and 0.87 over 5 years.
Is AGI a good diversifier for AEM?
No. With a correlation of 0.89, AEM and AGI move nearly in lockstep, so holding both adds very little diversification.
What does a correlation of 0.89 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/aem-vs-agi.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/aem-vs-agi/)
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Related comparisons
Hubs: AEM correlations · AGI correlations
