AMBO vs SSRM: Correlation
Measured on weekly returns over the past three years, Ambow Education Holding Ltd. American Depository Shares (AMBO) and SSR Mining Inc. (SSRM) carry a correlation of -0.22, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AMBO and SSRM?
Over the past 3 years, AMBO and SSRM moved with a correlation of -0.22, which is negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.10 versus -0.22 over 3 years. Over 5 years the correlation is -0.16, and the annualized covariance of weekly returns is -2047.4 %².
Out of 11 assets tracked against AMBO, SSRM lands near the bottom at #10. Their recent paths diverged sharply: over the last 12 months SSRM outperformed by 154.2 percentage points (-42.4% for AMBO against +111.8% for SSRM). One caveat on sizing: AMBO is 2.3 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
AMBO vs SSRM: side by side
| AMBO (Ambow Education Holding Ltd. American Depository Shares) | SSRM (SSR Mining Inc.) | |
|---|---|---|
| 1-year return | -42.4% | +111.8% |
| 5-year return | -86.6% | +149.2% |
| Volatility (ann.) | 146.2% | 64.6% |
| Beta vs S&P 500 | -0.00 | 0.98 |
| Max drawdown (3Y) | -73.6% | -73.4% |
| Market cap | – | $8.0B |
| P/E (trailing) | – | 14.7 |
| Dividend yield | 0.00% | 0.08% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AMBO | SSRM |
|---|---|---|
| 2022 | -67.0% | -10.0% |
| 2023 | -54.8% | -29.9% |
| 2024 | +52.2% | -35.3% |
| 2025 | +31.4% | +214.9% |
| 2026 | -24.3% | +78.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AMBO and SSRM good diversifiers for each other?
Yes: at -0.22, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between AMBO and SSRM?
As of 2026-08-27, the correlation of weekly returns between AMBO and SSRM is -0.22 over 3 years, -0.10 over 1 year and -0.16 over 5 years.
Is SSRM a good diversifier for AMBO?
Yes: at -0.22, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.22 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: AMBO correlations · SSRM correlations
