AEM vs B: Correlation
Measured on weekly returns over the past three years, Agnico Eagle Mines Limited (AEM) and Barrick Mining Corporation (B) carry a correlation of 0.86, a very strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AEM and B?
Over the past 3 years, AEM and B moved with a correlation of 0.86, which is very strong, meaning they move nearly in lockstep. Recent behaviour matches the longer record: 0.88 over 1 year against 0.86 over 3. Over 5 years the correlation is 0.87, and the annualized covariance of weekly returns is 1435.5 %².
Within AEM's tracked universe of 36 assets, B comes in at #6 by 3-year correlation. Correlation aside, the last 12 months split them widely, with B ahead by 27.2 points (+55.9% versus +83.1%).
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 B: side by side
| AEM (Agnico Eagle Mines Limited) | B (Barrick Mining Corporation) | |
|---|---|---|
| 1-year return | +55.9% | +83.1% |
| 5-year return | +323.8% | +171.9% |
| Volatility (ann.) | 40.9% | 40.7% |
| Beta vs S&P 500 | 0.70 | 0.87 |
| Max drawdown (3Y) | -45.8% | -33.4% |
| Market cap | $109.1B | $77.9B |
| P/E (trailing) | 18.4 | 12.2 |
| Dividend yield | 0.79% | 1.38% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AEM | B |
|---|---|---|
| 2022 | +1.1% | -6.2% |
| 2023 | +9.0% | +7.9% |
| 2024 | +46.0% | -12.3% |
| 2025 | +119.5% | +186.9% |
| 2026 | +27.6% | +10.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AEM and B good diversifiers for each other?
Not really. At 0.86, the two trade almost as one position, and owning both buys little extra protection.
FAQ
What is the correlation between AEM and B?
The AEM/B correlation stands at 0.86 on a 3-year window (1 year: 0.88, 5 years: 0.87), computed from weekly returns as of 2026-08-27.
Is B a good diversifier for AEM?
Not really. At 0.86, the two trade almost as one position, and owning both buys little extra protection.
What does a correlation of 0.86 mean?
On the −1 to +1 scale, 0.86 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/aem-vs-b.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/aem-vs-b/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: AEM correlations · B correlations
