AGI vs EQX: Correlation
Measured on weekly returns over the past three years, Alamos Gold Inc. Class A (AGI) and Equinox Gold Corp. (EQX) 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 AGI and EQX?
On 3 years of weekly data the AGI/EQX correlation comes out at 0.76, strong. The relationship has been stable: the 1-year correlation (0.86) sits close to the 3-year figure. The 5-year figure is 0.75, and annualized covariance runs at 1993.2 %².
By 3-year correlation, EQX places #17 of the 26 assets tracked against AGI. Their recent paths diverged sharply: over the last 12 months EQX outperformed by 37.0 percentage points (+27.7% for AGI against +64.7% for EQX).
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 EQX: side by side
| AGI (Alamos Gold Inc. Class A) | EQX (Equinox Gold Corp.) | |
|---|---|---|
| 1-year return | +27.7% | +64.7% |
| 5-year return | +404.0% | +98.0% |
| Volatility (ann.) | 46.1% | 56.6% |
| Beta vs S&P 500 | 0.76 | 1.19 |
| Max drawdown (3Y) | -49.6% | -54.0% |
| Market cap | $15.9B | $15.7B |
| P/E (trailing) | 13.5 | 21.0 |
| Dividend yield | 0.35% | 0.22% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AGI | EQX |
|---|---|---|
| 2022 | +33.1% | -51.5% |
| 2023 | +34.3% | +49.1% |
| 2024 | +37.7% | +2.7% |
| 2025 | +109.6% | +179.7% |
| 2026 | -1.6% | -3.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AGI and EQX good diversifiers for each other?
Only partially. A correlation of 0.76 means AGI and EQX 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 AGI and EQX?
Using weekly returns as of 2026-08-27: 0.76 over 3 years, with 0.86 over the last year and 0.75 over 5 years.
Is EQX a good diversifier for AGI?
Only partially. A correlation of 0.76 means AGI and EQX share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.76 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
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Related comparisons
Hubs: AGI correlations · EQX correlations
