AG vs PLG: Correlation
First Majestic Silver Corp. (AG) and Platinum Group Metals Ltd. (PLG) show a strong relationship: their 3-year correlation of weekly returns is 0.72.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AG and PLG?
On 3 years of weekly data the AG/PLG correlation comes out at 0.72, strong. The past 12 months show a tighter link (0.83) than the 3-year average (0.72). The 5-year figure is 0.68, and annualized covariance runs at 3768.0 %².
Among the 27 assets we track against AG, PLG ranks #9 by 3-year correlation. The last year tells two different stories: AG led by 135.2 percentage points, +139.9% for AG against +4.7% for PLG.
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 PLG: side by side
| AG (First Majestic Silver Corp.) | PLG (Platinum Group Metals Ltd.) | |
|---|---|---|
| 1-year return | +139.9% | +4.7% |
| 5-year return | +74.1% | -41.5% |
| Volatility (ann.) | 70.1% | 74.7% |
| Beta vs S&P 500 | 1.45 | 1.36 |
| Max drawdown (3Y) | -53.0% | -64.4% |
| 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 | PLG |
|---|---|---|
| 2022 | -24.7% | +10.1% |
| 2023 | -26.0% | -34.5% |
| 2024 | -10.5% | +12.3% |
| 2025 | +204.1% | +84.4% |
| 2026 | +30.7% | -34.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AG and PLG good diversifiers for each other?
Only partially. A correlation of 0.72 means AG and PLG share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between AG and PLG?
Using weekly returns as of 2026-08-27: 0.72 over 3 years, with 0.83 over the last year and 0.68 over 5 years.
Is PLG a good diversifier for AG?
Only partially. A correlation of 0.72 means AG and PLG share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.72 mean?
On the −1 to +1 scale, 0.72 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.
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Related comparisons
Hubs: AG correlations · PLG correlations
