ASA vs AYA: Correlation
Measured on weekly returns over the past three years, ASA Gold and Precious Metals Limited (ASA) and Aya Gold & Silver Inc. (AYA) carry a correlation of 0.78, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ASA and AYA?
On 3 years of weekly data the ASA/AYA correlation comes out at 0.78, strong. Recent behaviour matches the longer record: 0.83 over 1 year against 0.78 over 3. The 5-year figure is 0.73, and annualized covariance runs at 2443.0 %².
By 3-year correlation, AYA places #15 of the 59 assets tracked against ASA. The last year tells two different stories: AYA led by 135.6 percentage points, +77.0% for ASA against +212.6% for AYA. One caveat on sizing: AYA is 1.7 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.
ASA vs AYA: side by side
| ASA (ASA Gold and Precious Metals Limited) | AYA (Aya Gold & Silver Inc.) | |
|---|---|---|
| 1-year return | +77.0% | +212.6% |
| 5-year return | +218.5% | +267.0% |
| Volatility (ann.) | 42.5% | 73.7% |
| Beta vs S&P 500 | 0.92 | 1.95 |
| Max drawdown (3Y) | -40.8% | -56.1% |
| Market cap | – | $4.2B |
| P/E (trailing) | 1.7 | 36.2 |
| Dividend yield | 0.11% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ASA | AYA |
|---|---|---|
| 2022 | -32.1% | -11.0% |
| 2023 | +5.4% | +10.4% |
| 2024 | +34.5% | +2.0% |
| 2025 | +195.6% | +92.4% |
| 2026 | +9.5% | +103.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ASA and AYA good diversifiers for each other?
To a limited degree. At 0.78 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between ASA and AYA?
As of 2026-08-27, the correlation of weekly returns between ASA and AYA is 0.78 over 3 years, 0.83 over 1 year and 0.73 over 5 years.
Is AYA a good diversifier for ASA?
To a limited degree. At 0.78 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.78 mean?
A reading of 0.78 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/asa-vs-aya.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/asa-vs-aya/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: ASA correlations · AYA correlations
