ASA vs IE: Correlation
ASA Gold and Precious Metals Limited (ASA) and Ivanhoe Electric Inc. (IE) show a strong relationship: their 3-year correlation of weekly returns is 0.60.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ASA and IE?
Over the past 3 years, ASA and IE moved with a correlation of 0.60, which is strong. The link has tightened recently: the 1-year correlation (0.74) runs above the 3-year figure (0.60). Over 5 years the correlation is 0.54, and the annualized covariance of weekly returns is 1760.8 %².
By 3-year correlation, IE places #43 of the 59 assets tracked against ASA. Correlation aside, the last 12 months split them widely, with ASA ahead by 45.9 points (+77.0% versus +31.1%). Note the risk asymmetry: IE runs 1.6 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 IE: side by side
| ASA (ASA Gold and Precious Metals Limited) | IE (Ivanhoe Electric Inc.) | |
|---|---|---|
| 1-year return | +77.0% | +31.1% |
| 5-year return | +218.5% | +8.2% |
| Volatility (ann.) | 42.5% | 69.5% |
| Beta vs S&P 500 | 0.92 | 2.00 |
| Max drawdown (3Y) | -40.8% | -70.7% |
| Market cap | – | $1.9B |
| P/E (trailing) | 1.7 | – |
| Dividend yield | 0.11% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ASA | IE |
|---|---|---|
| 2022 | -32.1% | – |
| 2023 | +5.4% | -17.0% |
| 2024 | +34.5% | -25.1% |
| 2025 | +195.6% | +111.7% |
| 2026 | +9.5% | -26.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ASA and IE good diversifiers for each other?
Somewhat, no more. With 0.60 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between ASA and IE?
The ASA/IE correlation stands at 0.60 on a 3-year window (1 year: 0.74, 5 years: 0.54), computed from weekly returns as of 2026-08-27.
Is IE a good diversifier for ASA?
Somewhat, no more. With 0.60 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.60 mean?
A reading of 0.60 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-ie.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/asa-vs-ie/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: ASA correlations · IE correlations
