AEM vs KGC: Correlation
Agnico Eagle Mines Limited (AEM) and Kinross Gold Corporation (KGC) show a very strong relationship: their 3-year correlation of weekly returns is 0.89.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AEM and KGC?
On 3 years of weekly data the AEM/KGC correlation comes out at 0.89, very strong, meaning they move nearly in lockstep. Little has changed lately, as the 1-year reading of 0.93 lands near the 3-year figure. The 5-year figure is 0.87, and annualized covariance runs at 1726.1 %².
Within AEM's tracked universe of 36 assets, KGC comes in at #4 by 3-year correlation. Over the last 12 months KGC came out ahead by 5.6 percentage points (+55.9% against +61.5%).
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 KGC: side by side
| AEM (Agnico Eagle Mines Limited) | KGC (Kinross Gold Corporation) | |
|---|---|---|
| 1-year return | +55.9% | +61.5% |
| 5-year return | +323.8% | +495.9% |
| Volatility (ann.) | 40.9% | 47.3% |
| Beta vs S&P 500 | 0.70 | 0.97 |
| Max drawdown (3Y) | -45.8% | -40.7% |
| Market cap | $109.1B | $38.6B |
| P/E (trailing) | 18.4 | 12.3 |
| Dividend yield | 0.79% | 0.48% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AEM | KGC |
|---|---|---|
| 2022 | +1.1% | -27.6% |
| 2023 | +9.0% | +51.8% |
| 2024 | +46.0% | +55.6% |
| 2025 | +119.5% | +205.7% |
| 2026 | +27.6% | +15.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AEM and KGC good diversifiers for each other?
No. With a correlation of 0.89, AEM and KGC move nearly in lockstep, so holding both adds very little diversification.
FAQ
What is the correlation between AEM and KGC?
The AEM/KGC correlation stands at 0.89 on a 3-year window (1 year: 0.93, 5 years: 0.87), computed from weekly returns as of 2026-08-27.
Is KGC a good diversifier for AEM?
No. With a correlation of 0.89, AEM and KGC 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-kgc.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/aem-vs-kgc/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: AEM correlations · KGC correlations
