AU vs HMY: Correlation
How closely do AngloGold Ashanti PLC (AU) and Harmony Gold Mining Company Limited (HMY) trade together? Their weekly returns over three years give a correlation of 0.82, which is very strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AU and HMY?
Over the past 3 years, AU and HMY moved with a correlation of 0.82, which is very strong, meaning they move nearly in lockstep. Recent behaviour matches the longer record: 0.83 over 1 year against 0.82 over 3. Over 5 years the correlation is 0.83, and the annualized covariance of weekly returns is 2941.6 %².
By 3-year correlation, HMY places #4 of the 13 assets tracked against AU. Their recent paths diverged sharply: over the last 12 months AU outperformed by 77.7 percentage points (+123.8% for AU against +46.1% for HMY).
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.
AU vs HMY: side by side
| AU (AngloGold Ashanti PLC) | HMY (Harmony Gold Mining Company Limited) | |
|---|---|---|
| 1-year return | +123.8% | +46.1% |
| 5-year return | +725.4% | +492.0% |
| Volatility (ann.) | 56.7% | 63.5% |
| Beta vs S&P 500 | 0.92 | 1.18 |
| Max drawdown (3Y) | -39.9% | -48.8% |
| Market cap | $59.9B | – |
| P/E (trailing) | 15.8 | 13.9 |
| Dividend yield | 3.83% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AU | HMY |
|---|---|---|
| 2022 | -5.1% | -16.4% |
| 2023 | -2.7% | +82.5% |
| 2024 | +26.5% | +35.4% |
| 2025 | +288.2% | +144.2% |
| 2026 | +43.8% | +7.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AU and HMY good diversifiers for each other?
No: a correlation of 0.82 means AU and HMY tend to fall together, which is precisely when diversification is supposed to help.
FAQ
What is the correlation between AU and HMY?
As of 2026-08-27, the correlation of weekly returns between AU and HMY is 0.82 over 3 years, 0.83 over 1 year and 0.83 over 5 years.
Is HMY a good diversifier for AU?
No: a correlation of 0.82 means AU and HMY tend to fall together, which is precisely when diversification is supposed to help.
What does a correlation of 0.82 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/au-vs-hmy.json
Embed this badge (it refreshes with the data), with attribution:
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Related comparisons
Hubs: AU correlations · HMY correlations
