AEM vs GNT: Correlation
Agnico Eagle Mines Limited (AEM) and GAMCO Natural Resources, Gold & Income Trust (GNT) show a strong relationship: their 3-year correlation of weekly returns is 0.69.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AEM and GNT?
On 3 years of weekly data the AEM/GNT correlation comes out at 0.69, strong. The relationship has been stable: the 1-year correlation (0.73) sits close to the 3-year figure. The 5-year figure is 0.66, and annualized covariance runs at 594.9 %².
Within AEM's tracked universe of 36 assets, GNT comes in at #24 by 3-year correlation. Their 12-month results are close: +55.9% for AEM against +51.1% for GNT. Risk is not evenly split, since AEM carries 1.9 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.
AEM vs GNT: side by side
| AEM (Agnico Eagle Mines Limited) | GNT (GAMCO Natural Resources, Gold & Income Trust) | |
|---|---|---|
| 1-year return | +55.9% | +51.1% |
| 5-year return | +323.8% | +152.2% |
| Volatility (ann.) | 40.9% | 21.0% |
| Beta vs S&P 500 | 0.70 | 0.40 |
| Max drawdown (3Y) | -45.8% | -15.7% |
| Market cap | $109.1B | $0.2B |
| P/E (trailing) | 18.4 | 3.2 |
| Dividend yield | 0.79% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AEM | GNT |
|---|---|---|
| 2022 | +1.1% | +2.8% |
| 2023 | +9.0% | +7.8% |
| 2024 | +46.0% | +10.5% |
| 2025 | +119.5% | +52.4% |
| 2026 | +27.6% | +32.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AEM and GNT good diversifiers for each other?
To a limited degree. At 0.69 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between AEM and GNT?
Using weekly returns as of 2026-08-27: 0.69 over 3 years, with 0.73 over the last year and 0.66 over 5 years.
Is GNT a good diversifier for AEM?
To a limited degree. At 0.69 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.69 mean?
On the −1 to +1 scale, 0.69 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-gnt.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/aem-vs-gnt/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: AEM correlations · GNT correlations
