ASA vs OGC: Correlation
How closely do ASA Gold and Precious Metals Limited (ASA) and OceanaGold Corporation (OGC) trade together? Their weekly returns over three years give a correlation of 0.78, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ASA and OGC?
Over the past 3 years, ASA and OGC moved with a correlation of 0.78, which is strong. The past 12 months show a tighter link (0.93) than the 3-year average (0.78). Over 5 years the correlation is 0.74, and the annualized covariance of weekly returns is 1668.9 %².
Among the 59 assets we track against ASA, OGC ranks #17 by 3-year correlation. On 12-month performance OGC holds a 5.6-point edge, +77.0% against +82.6%.
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 OGC: side by side
| ASA (ASA Gold and Precious Metals Limited) | OGC (OceanaGold Corporation) | |
|---|---|---|
| 1-year return | +77.0% | +82.6% |
| 5-year return | +218.5% | +489.5% |
| Volatility (ann.) | 42.5% | 50.1% |
| Beta vs S&P 500 | 0.92 | 0.86 |
| Max drawdown (3Y) | -40.8% | -47.7% |
| Market cap | – | $7.0B |
| P/E (trailing) | 1.7 | 8.1 |
| Dividend yield | 0.11% | 0.78% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ASA | OGC |
|---|---|---|
| 2022 | -32.1% | +9.8% |
| 2023 | +5.4% | +2.1% |
| 2024 | +34.5% | +45.1% |
| 2025 | +195.6% | +243.9% |
| 2026 | +9.5% | +12.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ASA and OGC good diversifiers for each other?
Only partially. A correlation of 0.78 means ASA and OGC 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 OGC?
As of 2026-08-27, the correlation of weekly returns between ASA and OGC is 0.78 over 3 years, 0.93 over 1 year and 0.74 over 5 years.
Is OGC a good diversifier for ASA?
Only partially. A correlation of 0.78 means ASA and OGC share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.78 mean?
On the −1 to +1 scale, 0.78 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.
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Related comparisons
Hubs: ASA correlations · OGC correlations
