ASA vs WRN: Correlation
Measured on weekly returns over the past three years, ASA Gold and Precious Metals Limited (ASA) and Western Copper and Gold Corporation (WRN) carry a correlation of 0.68, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ASA and WRN?
Over the past 3 years, ASA and WRN moved with a correlation of 0.68, which is strong. The past 12 months show a tighter link (0.84) than the 3-year average (0.68). Over 5 years the correlation is 0.66, and the annualized covariance of weekly returns is 1540.8 %².
By 3-year correlation, WRN places #34 of the 59 assets tracked against ASA. The trailing year gives WRN the advantage: +77.0% versus +82.4%, a 5.4-point spread.
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 WRN: side by side
| ASA (ASA Gold and Precious Metals Limited) | WRN (Western Copper and Gold Corporation) | |
|---|---|---|
| 1-year return | +77.0% | +82.4% |
| 5-year return | +218.5% | +50.6% |
| Volatility (ann.) | 42.5% | 53.2% |
| Beta vs S&P 500 | 0.92 | 0.99 |
| Max drawdown (3Y) | -40.8% | -50.1% |
| Market cap | – | $0.6B |
| P/E (trailing) | 1.7 | 259.0 |
| Dividend yield | 0.11% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ASA | WRN |
|---|---|---|
| 2022 | -32.1% | +14.1% |
| 2023 | +5.4% | -25.3% |
| 2024 | +34.5% | -21.1% |
| 2025 | +195.6% | +154.3% |
| 2026 | +9.5% | -3.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ASA and WRN good diversifiers for each other?
To a limited degree. At 0.68 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between ASA and WRN?
The ASA/WRN correlation stands at 0.68 on a 3-year window (1 year: 0.84, 5 years: 0.66), computed from weekly returns as of 2026-08-27.
Is WRN a good diversifier for ASA?
To a limited degree. At 0.68 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.68 mean?
A reading of 0.68 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-wrn.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/asa-vs-wrn/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: ASA correlations · WRN correlations
