ASA vs IDR: Correlation
How closely do ASA Gold and Precious Metals Limited (ASA) and Idaho Strategic Resources, Inc. (IDR) trade together? Their weekly returns over three years give a correlation of 0.60, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ASA and IDR?
Over the past 3 years, ASA and IDR moved with a correlation of 0.60, which is strong. The link has tightened recently: the 1-year correlation (0.76) runs above the 3-year figure (0.60). Over 5 years the correlation is 0.45, and the annualized covariance of weekly returns is 1874.7 %².
By 3-year correlation, IDR places #42 of the 59 assets tracked against ASA. The last year tells two different stories: ASA led by 50.7 percentage points, +77.0% for ASA against +26.3% for IDR. Note the risk asymmetry: IDR runs 1.7 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 IDR: side by side
| ASA (ASA Gold and Precious Metals Limited) | IDR (Idaho Strategic Resources, Inc.) | |
|---|---|---|
| 1-year return | +77.0% | +26.3% |
| 5-year return | +218.5% | +702.8% |
| Volatility (ann.) | 42.5% | 73.6% |
| Beta vs S&P 500 | 0.92 | 0.68 |
| Max drawdown (3Y) | -40.8% | -50.0% |
| Market cap | – | $0.5B |
| P/E (trailing) | 1.7 | 22.6 |
| Dividend yield | 0.11% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ASA | IDR |
|---|---|---|
| 2022 | -32.1% | -23.4% |
| 2023 | +5.4% | +11.1% |
| 2024 | +34.5% | +61.0% |
| 2025 | +195.6% | +295.5% |
| 2026 | +9.5% | -16.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ASA and IDR good diversifiers for each other?
Only partially. A correlation of 0.60 means ASA and IDR 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 IDR?
The ASA/IDR correlation stands at 0.60 on a 3-year window (1 year: 0.76, 5 years: 0.45), computed from weekly returns as of 2026-08-27.
Is IDR a good diversifier for ASA?
Only partially. A correlation of 0.60 means ASA and IDR share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.60 mean?
On the −1 to +1 scale, 0.60 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-idr.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/asa-vs-idr/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: ASA correlations · IDR correlations
