ALM vs USAU: Correlation
Almonty Industries Inc. (ALM) and U.S. Gold Corp. (USAU) show a moderate relationship: their 3-year correlation of weekly returns is 0.43.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ALM and USAU?
Over the past 3 years, ALM and USAU moved with a correlation of 0.43, which is moderate. The past 12 months show a tighter link (0.57) than the 3-year average (0.43). Over 5 years the correlation is 0.39, and the annualized covariance of weekly returns is 2664.3 %².
Few assets follow ALM as closely as USAU, which ranks #2 of 13 tracked partners. Correlation aside, the last 12 months split them widely, with ALM ahead by 325.1 points (+348.7% versus +23.6%).
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 USAU: side by side
| ALM (Almonty Industries Inc.) | USAU (U.S. Gold Corp.) | |
|---|---|---|
| 1-year return | +348.7% | +23.6% |
| 5-year return | +1028.4% | +73.0% |
| Volatility (ann.) | 89.8% | 69.5% |
| Beta vs S&P 500 | 1.32 | 1.73 |
| Max drawdown (3Y) | -57.9% | -44.0% |
| Market cap | $5.4B | $0.3B |
| P/E (trailing) | 82.1 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ALM | USAU |
|---|---|---|
| 2022 | -27.7% | -46.5% |
| 2023 | -19.7% | -11.5% |
| 2024 | +53.2% | +44.2% |
| 2025 | +526.5% | +216.6% |
| 2026 | +114.4% | -15.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ALM and USAU good diversifiers for each other?
Reasonably. At 0.43, ALM and USAU keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between ALM and USAU?
As of 2026-08-27, the correlation of weekly returns between ALM and USAU is 0.43 over 3 years, 0.57 over 1 year and 0.39 over 5 years.
Is USAU a good diversifier for ALM?
Reasonably. At 0.43, ALM and USAU keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.43 mean?
A reading of 0.43 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: ALM correlations · USAU correlations
