ASA vs SSRM: Correlation
ASA Gold and Precious Metals Limited (ASA) and SSR Mining Inc. (SSRM) show a strong relationship: their 3-year correlation of weekly returns is 0.71.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ASA and SSRM?
On 3 years of weekly data the ASA/SSRM correlation comes out at 0.71, strong. The link has tightened recently: the 1-year correlation (0.85) runs above the 3-year figure (0.71). The 5-year figure is 0.71, and annualized covariance runs at 1935.1 %².
Within ASA's tracked universe of 59 assets, SSRM comes in at #29 by 3-year correlation. Correlation aside, the last 12 months split them widely, with SSRM ahead by 34.8 points (+77.0% versus +111.8%). One caveat on sizing: SSRM is 1.5 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 SSRM: side by side
| ASA (ASA Gold and Precious Metals Limited) | SSRM (SSR Mining Inc.) | |
|---|---|---|
| 1-year return | +77.0% | +111.8% |
| 5-year return | +218.5% | +149.2% |
| Volatility (ann.) | 42.5% | 64.6% |
| Beta vs S&P 500 | 0.92 | 0.98 |
| Max drawdown (3Y) | -40.8% | -73.4% |
| Market cap | – | $8.0B |
| P/E (trailing) | 1.7 | 14.7 |
| Dividend yield | 0.11% | 0.08% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ASA | SSRM |
|---|---|---|
| 2022 | -32.1% | -10.0% |
| 2023 | +5.4% | -29.9% |
| 2024 | +34.5% | -35.3% |
| 2025 | +195.6% | +214.9% |
| 2026 | +9.5% | +78.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ASA and SSRM good diversifiers for each other?
Only partially. A correlation of 0.71 means ASA and SSRM 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 SSRM?
As of 2026-08-27, the correlation of weekly returns between ASA and SSRM is 0.71 over 3 years, 0.85 over 1 year and 0.71 over 5 years.
Is SSRM a good diversifier for ASA?
Only partially. A correlation of 0.71 means ASA and SSRM share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.71 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/asa-vs-ssrm.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/asa-vs-ssrm/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: ASA correlations · SSRM correlations
