AG vs WRN: Correlation
First Majestic Silver Corp. (AG) and Western Copper and Gold Corporation (WRN) show a strong relationship: their 3-year correlation of weekly returns is 0.64.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AG and WRN?
On 3 years of weekly data the AG/WRN correlation comes out at 0.64, strong. Lately the two have moved closer together, with the 1-year correlation at 0.85 versus 0.64 over 3 years. The 5-year figure is 0.62, and annualized covariance runs at 2382.6 %².
Within AG's tracked universe of 27 assets, WRN comes in at #15 by 3-year correlation. The last year tells two different stories: AG led by 57.5 percentage points, +139.9% for AG against +82.4% for WRN.
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 WRN: side by side
| AG (First Majestic Silver Corp.) | WRN (Western Copper and Gold Corporation) | |
|---|---|---|
| 1-year return | +139.9% | +82.4% |
| 5-year return | +74.1% | +50.6% |
| Volatility (ann.) | 70.1% | 53.2% |
| Beta vs S&P 500 | 1.45 | 0.99 |
| Max drawdown (3Y) | -53.0% | -50.1% |
| Market cap | $10.7B | $0.6B |
| P/E (trailing) | 30.2 | 259.0 |
| Dividend yield | 0.22% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AG | WRN |
|---|---|---|
| 2022 | -24.7% | +14.1% |
| 2023 | -26.0% | -25.3% |
| 2024 | -10.5% | -21.1% |
| 2025 | +204.1% | +154.3% |
| 2026 | +30.7% | -3.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AG and WRN good diversifiers for each other?
To a limited degree. At 0.64 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 AG and WRN?
As of 2026-08-27, the correlation of weekly returns between AG and WRN is 0.64 over 3 years, 0.85 over 1 year and 0.62 over 5 years.
Is WRN a good diversifier for AG?
To a limited degree. At 0.64 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 0.64 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/ag-vs-wrn.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ag-vs-wrn/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: AG correlations · WRN correlations
