AG vs CDE: Correlation
Measured on weekly returns over the past three years, First Majestic Silver Corp. (AG) and Coeur Mining, Inc. (CDE) carry a correlation of 0.76, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AG and CDE?
On 3 years of weekly data the AG/CDE correlation comes out at 0.76, strong. Recent behaviour matches the longer record: 0.86 over 1 year against 0.76 over 3. The 5-year figure is 0.75, and annualized covariance runs at 4005.8 %².
By 3-year correlation, CDE places #6 of the 27 assets tracked against AG. The last year tells two different stories: AG led by 61.6 percentage points, +139.9% for AG against +78.3% for CDE.
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 CDE: side by side
| AG (First Majestic Silver Corp.) | CDE (Coeur Mining, Inc.) | |
|---|---|---|
| 1-year return | +139.9% | +78.3% |
| 5-year return | +74.1% | +222.7% |
| Volatility (ann.) | 70.1% | 74.8% |
| Beta vs S&P 500 | 1.45 | 1.98 |
| Max drawdown (3Y) | -53.0% | -47.8% |
| Market cap | $10.7B | $22.8B |
| P/E (trailing) | 30.2 | 18.7 |
| Dividend yield | 0.22% | 0.09% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AG | CDE |
|---|---|---|
| 2022 | -24.7% | -33.3% |
| 2023 | -26.0% | -3.0% |
| 2024 | -10.5% | +75.5% |
| 2025 | +204.1% | +211.7% |
| 2026 | +30.7% | +24.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AG and CDE good diversifiers for each other?
Somewhat, no more. With 0.76 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between AG and CDE?
The AG/CDE correlation stands at 0.76 on a 3-year window (1 year: 0.86, 5 years: 0.75), computed from weekly returns as of 2026-08-27.
Is CDE a good diversifier for AG?
Somewhat, no more. With 0.76 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.76 mean?
A reading of 0.76 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/ag-vs-cde.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/ag-vs-cde/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: AG correlations · CDE correlations
