ASM vs CTGO: Correlation
Avino Silver & Gold Mines Ltd. (ASM) and Contango Silver & Gold Inc. (CTGO) show a moderate relationship: their 3-year correlation of weekly returns is 0.56.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ASM and CTGO?
Across a 3-year window, the weekly returns of ASM and CTGO correlate at 0.56, moderate. Lately the two have moved closer together, with the 1-year correlation at 0.73 versus 0.56 over 3 years. Stretching to 5 years gives 0.44, with an annualized covariance of 2876.1 %².
Among the 14 assets we track against ASM, CTGO ranks #7 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months ASM outperformed by 79.4 percentage points (+76.1% for ASM against -3.3% for CTGO).
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.
ASM vs CTGO: side by side
| ASM (Avino Silver & Gold Mines Ltd.) | CTGO (Contango Silver & Gold Inc.) | |
|---|---|---|
| 1-year return | +76.1% | -3.3% |
| 5-year return | +657.8% | +13.2% |
| Volatility (ann.) | 77.8% | 66.5% |
| Beta vs S&P 500 | 1.95 | 1.34 |
| Max drawdown (3Y) | -53.1% | -64.1% |
| Market cap | $1.3B | $0.7B |
| P/E (trailing) | 28.6 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ASM | CTGO |
|---|---|---|
| 2022 | -20.9% | -10.5% |
| 2023 | -23.5% | -21.0% |
| 2024 | +69.2% | -44.7% |
| 2025 | +605.7% | +163.6% |
| 2026 | +24.5% | -22.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ASM and CTGO good diversifiers for each other?
To a limited degree. At 0.56 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 ASM and CTGO?
Using weekly returns as of 2026-08-27: 0.56 over 3 years, with 0.73 over the last year and 0.44 over 5 years.
Is CTGO a good diversifier for ASM?
To a limited degree. At 0.56 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 0.56 mean?
A reading of 0.56 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/asm-vs-ctgo.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/asm-vs-ctgo/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: ASM correlations · CTGO correlations
