AGI vs BTG: Correlation
How closely do Alamos Gold Inc. Class A (AGI) and B2Gold Corp (BTG) trade together? Their weekly returns over three years give a correlation of 0.81, which is very strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AGI and BTG?
Across a 3-year window, the weekly returns of AGI and BTG correlate at 0.81, very strong, meaning they move nearly in lockstep. Recent behaviour matches the longer record: 0.84 over 1 year against 0.81 over 3. Stretching to 5 years gives 0.81, with an annualized covariance of 2076.8 %².
Among the 26 assets we track against AGI, BTG ranks #11 by 3-year correlation. The last year tells two different stories: BTG led by 17.2 percentage points, +27.7% for AGI against +44.9% for BTG.
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 BTG: side by side
| AGI (Alamos Gold Inc. Class A) | BTG (B2Gold Corp) | |
|---|---|---|
| 1-year return | +27.7% | +44.9% |
| 5-year return | +404.0% | +85.7% |
| Volatility (ann.) | 46.1% | 55.7% |
| Beta vs S&P 500 | 0.76 | 1.12 |
| Max drawdown (3Y) | -49.6% | -40.7% |
| Market cap | $15.9B | $7.7B |
| P/E (trailing) | 13.5 | 10.4 |
| Dividend yield | 0.35% | 1.39% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AGI | BTG |
|---|---|---|
| 2022 | +33.1% | -5.1% |
| 2023 | +34.3% | -7.2% |
| 2024 | +37.7% | -18.1% |
| 2025 | +109.6% | +87.2% |
| 2026 | -1.6% | +30.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AGI and BTG good diversifiers for each other?
Not really. At 0.81, the two trade almost as one position, and owning both buys little extra protection.
FAQ
What is the correlation between AGI and BTG?
As of 2026-08-27, the correlation of weekly returns between AGI and BTG is 0.81 over 3 years, 0.84 over 1 year and 0.81 over 5 years.
Is BTG a good diversifier for AGI?
Not really. At 0.81, the two trade almost as one position, and owning both buys little extra protection.
What does a correlation of 0.81 mean?
On the −1 to +1 scale, 0.81 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/agi-vs-btg.json
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Related comparisons
Hubs: AGI correlations · BTG correlations
