API vs USGO: Correlation
Agora, Inc. (API) and U.S. GoldMining Inc. (USGO) show a moderate relationship: their 3-year correlation of weekly returns is 0.41.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are API and USGO?
Across a 3-year window, the weekly returns of API and USGO correlate at 0.41, moderate. Lately the two have drifted apart, with the 1-year correlation at 0.16 versus 0.41 over 3 years. Stretching to 5 years gives n/a, with an annualized covariance of 3338.1 %².
Within API's tracked universe of 14 assets, USGO comes in at #6 by 3-year correlation. Twelve-month performance is nearly a tie, at +15.7% for API and +12.0% for USGO.
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.
API vs USGO: side by side
| API (Agora, Inc.) | USGO (U.S. GoldMining Inc.) | |
|---|---|---|
| 1-year return | +15.7% | +12.0% |
| 5-year return | -86.7% | n/a |
| Volatility (ann.) | 96.1% | 85.5% |
| Beta vs S&P 500 | 1.90 | 1.08 |
| Max drawdown (3Y) | -60.8% | -53.7% |
| Market cap | $0.3B | $0.1B |
| P/E (trailing) | 45.1 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | API | USGO |
|---|---|---|
| 2022 | -75.9% | – |
| 2023 | -32.7% | – |
| 2024 | +58.2% | +17.9% |
| 2025 | -2.2% | +2.4% |
| 2026 | -0.2% | +10.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are API and USGO good diversifiers for each other?
Reasonably. At 0.41, API and USGO keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between API and USGO?
The API/USGO correlation stands at 0.41 on a 3-year window (1 year: 0.16, 5 years: n/a), computed from weekly returns as of 2026-08-27.
Is USGO a good diversifier for API?
Reasonably. At 0.41, API and USGO keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.41 mean?
On the −1 to +1 scale, 0.41 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/api-vs-usgo.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/api-vs-usgo/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: API correlations · USGO correlations
