AG vs AMZE: Correlation
First Majestic Silver Corp. (AG) and Amaze Holdings, Inc. (AMZE) show a moderate relationship: their 3-year correlation of weekly returns is 0.36.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AG and AMZE?
Across a 3-year window, the weekly returns of AG and AMZE correlate at 0.36, moderate. Lately the two have moved closer together, with the 1-year correlation at 0.46 versus 0.36 over 3 years. Stretching to 5 years gives 0.29, with an annualized covariance of 3486.4 %².
Among the 27 assets we track against AG, AMZE ranks #21 by 3-year correlation. Correlation aside, the last 12 months split them widely, with AG ahead by 239.2 points (+139.9% versus -99.3%). Risk is not evenly split, since AMZE carries 2.0 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.
AG vs AMZE: side by side
| AG (First Majestic Silver Corp.) | AMZE (Amaze Holdings, Inc.) | |
|---|---|---|
| 1-year return | +139.9% | -99.3% |
| 5-year return | +74.1% | -100.0% |
| Volatility (ann.) | 70.1% | 139.4% |
| Beta vs S&P 500 | 1.45 | 1.68 |
| Max drawdown (3Y) | -53.0% | -99.9% |
| Market cap | $10.7B | – |
| P/E (trailing) | 30.2 | – |
| Dividend yield | 0.22% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AG | AMZE |
|---|---|---|
| 2022 | -24.7% | -80.8% |
| 2023 | -26.0% | -7.0% |
| 2024 | -10.5% | -36.0% |
| 2025 | +204.1% | -97.2% |
| 2026 | +30.7% | -94.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AG and AMZE good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.36 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between AG and AMZE?
The AG/AMZE correlation stands at 0.36 on a 3-year window (1 year: 0.46, 5 years: 0.29), computed from weekly returns as of 2026-08-27.
Is AMZE a good diversifier for AG?
Yes, to a useful degree: a correlation of 0.36 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.36 mean?
On the −1 to +1 scale, 0.36 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/ag-vs-amze.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/ag-vs-amze/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: AG correlations · AMZE correlations
