ALM vs DC: Correlation
Measured on weekly returns over the past three years, Almonty Industries Inc. (ALM) and Dakota Gold Corp. (DC) carry a correlation of 0.39, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ALM and DC?
On 3 years of weekly data the ALM/DC correlation comes out at 0.39, moderate. Lately the two have moved closer together, with the 1-year correlation at 0.56 versus 0.39 over 3 years. The 5-year figure is 0.35, and annualized covariance runs at 2162.9 %².
Few assets follow ALM as closely as DC, which ranks #3 of 13 tracked partners. Correlation aside, the last 12 months split them widely, with ALM ahead by 299.4 points (+348.7% versus +49.3%).
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.
ALM vs DC: side by side
| ALM (Almonty Industries Inc.) | DC (Dakota Gold Corp.) | |
|---|---|---|
| 1-year return | +348.7% | +49.3% |
| 5-year return | +1028.4% | -9.6% |
| Volatility (ann.) | 89.8% | 61.3% |
| Beta vs S&P 500 | 1.32 | 1.26 |
| Max drawdown (3Y) | -57.9% | -41.7% |
| Market cap | $5.4B | $0.8B |
| P/E (trailing) | 82.1 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ALM | DC |
|---|---|---|
| 2022 | -27.7% | – |
| 2023 | -19.7% | -14.1% |
| 2024 | +53.2% | -16.0% |
| 2025 | +526.5% | +158.2% |
| 2026 | +114.4% | +9.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ALM and DC good diversifiers for each other?
A fair diversifier. At 0.39, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between ALM and DC?
Using weekly returns as of 2026-08-27: 0.39 over 3 years, with 0.56 over the last year and 0.35 over 5 years.
Is DC a good diversifier for ALM?
A fair diversifier. At 0.39, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.39 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.
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Related comparisons
Hubs: ALM correlations · DC correlations
