ASA vs AUST: Correlation
How closely do ASA Gold and Precious Metals Limited (ASA) and Austin Gold Corp. (AUST) trade together? Their weekly returns over three years give a correlation of 0.52, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ASA and AUST?
On 3 years of weekly data the ASA/AUST correlation comes out at 0.52, moderate. The link has tightened recently: the 1-year correlation (0.68) runs above the 3-year figure (0.52). The 5-year figure is 0.52, and annualized covariance runs at 2005.5 %².
Among the 59 assets we track against ASA, AUST ranks #50 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months ASA outperformed by 96.9 percentage points (+77.0% for ASA against -19.9% for AUST). Note the risk asymmetry: AUST runs 2.1 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
ASA vs AUST: side by side
| ASA (ASA Gold and Precious Metals Limited) | AUST (Austin Gold Corp.) | |
|---|---|---|
| 1-year return | +77.0% | -19.9% |
| 5-year return | +218.5% | -71.4% |
| Volatility (ann.) | 42.5% | 89.9% |
| Beta vs S&P 500 | 0.92 | 0.92 |
| Max drawdown (3Y) | -40.8% | -70.3% |
| Market cap | – | – |
| P/E (trailing) | 1.7 | – |
| Dividend yield | 0.11% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ASA | AUST |
|---|---|---|
| 2022 | -32.1% | – |
| 2023 | +5.4% | -21.6% |
| 2024 | +34.5% | +69.6% |
| 2025 | +195.6% | +17.9% |
| 2026 | +9.5% | -15.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ASA and AUST good diversifiers for each other?
Only partially. A correlation of 0.52 means ASA and AUST 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 ASA and AUST?
The ASA/AUST correlation stands at 0.52 on a 3-year window (1 year: 0.68, 5 years: 0.52), computed from weekly returns as of 2026-08-27.
Is AUST a good diversifier for ASA?
Only partially. A correlation of 0.52 means ASA and AUST share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.52 mean?
On the −1 to +1 scale, 0.52 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/asa-vs-aust.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/asa-vs-aust/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: ASA correlations · AUST correlations
