ASA vs WPM: Correlation
Measured on weekly returns over the past three years, ASA Gold and Precious Metals Limited (ASA) and Wheaton Precious Metals Corp (WPM) carry a correlation of 0.86, a very strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ASA and WPM?
Across a 3-year window, the weekly returns of ASA and WPM correlate at 0.86, very strong, meaning they move nearly in lockstep. Little has changed lately, as the 1-year reading of 0.90 lands near the 3-year figure. Stretching to 5 years gives 0.86, with an annualized covariance of 1506.5 %².
By 3-year correlation, WPM places #5 of the 59 assets tracked against ASA. On 12-month performance ASA holds a 12.7-point edge, +77.0% against +64.3%.
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 WPM: side by side
| ASA (ASA Gold and Precious Metals Limited) | WPM (Wheaton Precious Metals Corp) | |
|---|---|---|
| 1-year return | +77.0% | +64.3% |
| 5-year return | +218.5% | +275.2% |
| Volatility (ann.) | 42.5% | 41.1% |
| Beta vs S&P 500 | 0.92 | 0.82 |
| Max drawdown (3Y) | -40.8% | -37.4% |
| Market cap | – | $71.8B |
| P/E (trailing) | 1.7 | 34.6 |
| Dividend yield | 0.11% | 0.46% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ASA | WPM |
|---|---|---|
| 2022 | -32.1% | -7.5% |
| 2023 | +5.4% | +27.9% |
| 2024 | +34.5% | +15.2% |
| 2025 | +195.6% | +109.8% |
| 2026 | +9.5% | +35.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ASA and WPM good diversifiers for each other?
No: a correlation of 0.86 means ASA and WPM tend to fall together, which is precisely when diversification is supposed to help.
FAQ
What is the correlation between ASA and WPM?
As of 2026-08-27, the correlation of weekly returns between ASA and WPM is 0.86 over 3 years, 0.90 over 1 year and 0.86 over 5 years.
Is WPM a good diversifier for ASA?
No: a correlation of 0.86 means ASA and WPM tend to fall together, which is precisely when diversification is supposed to help.
What does a correlation of 0.86 mean?
On the −1 to +1 scale, 0.86 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-wpm.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/asa-vs-wpm/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: ASA correlations · WPM correlations
