AGI vs ASA: Correlation
Measured on weekly returns over the past three years, Alamos Gold Inc. Class A (AGI) and ASA Gold and Precious Metals Limited (ASA) carry a correlation of 0.86, a very strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AGI and ASA?
On 3 years of weekly data the AGI/ASA correlation comes out at 0.86, very strong, meaning they move nearly in lockstep. The relationship has been stable: the 1-year correlation (0.92) sits close to the 3-year figure. The 5-year figure is 0.83, and annualized covariance runs at 1687.3 %².
Few assets follow AGI as closely as ASA, which ranks #3 of 26 tracked partners. Their recent paths diverged sharply: over the last 12 months ASA outperformed by 49.3 percentage points (+27.7% for AGI against +77.0% for ASA).
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.
AGI vs ASA: side by side
| AGI (Alamos Gold Inc. Class A) | ASA (ASA Gold and Precious Metals Limited) | |
|---|---|---|
| 1-year return | +27.7% | +77.0% |
| 5-year return | +404.0% | +218.5% |
| Volatility (ann.) | 46.1% | 42.5% |
| Beta vs S&P 500 | 0.76 | 0.92 |
| Max drawdown (3Y) | -49.6% | -40.8% |
| Market cap | $15.9B | – |
| P/E (trailing) | 13.5 | 1.7 |
| Dividend yield | 0.35% | 0.11% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AGI | ASA |
|---|---|---|
| 2022 | +33.1% | -32.1% |
| 2023 | +34.3% | +5.4% |
| 2024 | +37.7% | +34.5% |
| 2025 | +109.6% | +195.6% |
| 2026 | -1.6% | +9.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AGI and ASA good diversifiers for each other?
No. With a correlation of 0.86, AGI and ASA move nearly in lockstep, so holding both adds very little diversification.
FAQ
What is the correlation between AGI and ASA?
As of 2026-08-27, the correlation of weekly returns between AGI and ASA is 0.86 over 3 years, 0.92 over 1 year and 0.83 over 5 years.
Is ASA a good diversifier for AGI?
No. With a correlation of 0.86, AGI and ASA move nearly in lockstep, so holding both adds very little diversification.
What does a correlation of 0.86 mean?
A reading of 0.86 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: AGI correlations · ASA correlations
