ASA vs DC: Correlation
Measured on weekly returns over the past three years, ASA Gold and Precious Metals Limited (ASA) and Dakota Gold Corp. (DC) carry a correlation of 0.67, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ASA and DC?
On 3 years of weekly data the ASA/DC correlation comes out at 0.67, strong. The link has tightened recently: the 1-year correlation (0.84) runs above the 3-year figure (0.67). The 5-year figure is 0.63, and annualized covariance runs at 1738.5 %².
By 3-year correlation, DC places #35 of the 59 assets tracked against ASA. Their recent paths diverged sharply: over the last 12 months ASA outperformed by 27.7 percentage points (+77.0% for ASA against +49.3% for DC).
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 DC: side by side
| ASA (ASA Gold and Precious Metals Limited) | DC (Dakota Gold Corp.) | |
|---|---|---|
| 1-year return | +77.0% | +49.3% |
| 5-year return | +218.5% | -9.6% |
| Volatility (ann.) | 42.5% | 61.3% |
| Beta vs S&P 500 | 0.92 | 1.26 |
| Max drawdown (3Y) | -40.8% | -41.7% |
| Market cap | – | $0.8B |
| P/E (trailing) | 1.7 | – |
| Dividend yield | 0.11% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ASA | DC |
|---|---|---|
| 2022 | -32.1% | – |
| 2023 | +5.4% | -14.1% |
| 2024 | +34.5% | -16.0% |
| 2025 | +195.6% | +158.2% |
| 2026 | +9.5% | +9.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ASA and DC good diversifiers for each other?
Somewhat, no more. With 0.67 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between ASA and DC?
As of 2026-08-27, the correlation of weekly returns between ASA and DC is 0.67 over 3 years, 0.84 over 1 year and 0.63 over 5 years.
Is DC a good diversifier for ASA?
Somewhat, no more. With 0.67 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.67 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: ASA correlations · DC correlations
