ASA vs SVM: Correlation
ASA Gold and Precious Metals Limited (ASA) and Silvercorp Metals Inc. (SVM) show a strong relationship: their 3-year correlation of weekly returns is 0.77.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ASA and SVM?
Across a 3-year window, the weekly returns of ASA and SVM correlate at 0.77, strong. Recent behaviour matches the longer record: 0.84 over 1 year against 0.77 over 3. Stretching to 5 years gives 0.78, with an annualized covariance of 1924.9 %².
Within ASA's tracked universe of 59 assets, SVM comes in at #21 by 3-year correlation. The last year tells two different stories: SVM led by 110.9 percentage points, +77.0% for ASA against +187.9% for SVM.
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 SVM: side by side
| ASA (ASA Gold and Precious Metals Limited) | SVM (Silvercorp Metals Inc.) | |
|---|---|---|
| 1-year return | +77.0% | +187.9% |
| 5-year return | +218.5% | +222.0% |
| Volatility (ann.) | 42.5% | 59.2% |
| Beta vs S&P 500 | 0.92 | 1.33 |
| Max drawdown (3Y) | -40.8% | -43.8% |
| Market cap | – | $3.0B |
| P/E (trailing) | 1.7 | 122.4 |
| Dividend yield | 0.11% | 0.19% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ASA | SVM |
|---|---|---|
| 2022 | -32.1% | -20.6% |
| 2023 | +5.4% | -10.3% |
| 2024 | +34.5% | +14.9% |
| 2025 | +195.6% | +178.8% |
| 2026 | +9.5% | +61.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ASA and SVM good diversifiers for each other?
Only partially. A correlation of 0.77 means ASA and SVM share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between ASA and SVM?
Using weekly returns as of 2026-08-27: 0.77 over 3 years, with 0.84 over the last year and 0.78 over 5 years.
Is SVM a good diversifier for ASA?
Only partially. A correlation of 0.77 means ASA and SVM share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.77 mean?
A reading of 0.77 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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$ curl https://www.pairbook.io/api/v1/pairs/asa-vs-svm.json
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Related comparisons
Hubs: ASA correlations · SVM correlations
