AU vs WPM: Correlation
AngloGold Ashanti PLC (AU) and Wheaton Precious Metals Corp (WPM) show a very strong relationship: their 3-year correlation of weekly returns is 0.82.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AU and WPM?
Over the past 3 years, AU and WPM moved with a correlation of 0.82, which is very strong, meaning they move nearly in lockstep. Little has changed lately, as the 1-year reading of 0.91 lands near the 3-year figure. Over 5 years the correlation is 0.80, and the annualized covariance of weekly returns is 1920.3 %².
Within AU's tracked universe of 13 assets, WPM comes in at #5 by 3-year correlation. The last year tells two different stories: AU led by 59.5 percentage points, +123.8% for AU against +64.3% for WPM.
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 WPM: side by side
| AU (AngloGold Ashanti PLC) | WPM (Wheaton Precious Metals Corp) | |
|---|---|---|
| 1-year return | +123.8% | +64.3% |
| 5-year return | +725.4% | +275.2% |
| Volatility (ann.) | 56.7% | 41.1% |
| Beta vs S&P 500 | 0.92 | 0.82 |
| Max drawdown (3Y) | -39.9% | -37.4% |
| Market cap | $59.9B | $71.8B |
| P/E (trailing) | 15.8 | 34.6 |
| Dividend yield | 3.83% | 0.46% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AU | WPM |
|---|---|---|
| 2022 | -5.1% | -7.5% |
| 2023 | -2.7% | +27.9% |
| 2024 | +26.5% | +15.2% |
| 2025 | +288.2% | +109.8% |
| 2026 | +43.8% | +35.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AU and WPM good diversifiers for each other?
No: a correlation of 0.82 means AU and WPM tend to fall together, which is precisely when diversification is supposed to help.
FAQ
What is the correlation between AU and WPM?
The AU/WPM correlation stands at 0.82 on a 3-year window (1 year: 0.91, 5 years: 0.80), computed from weekly returns as of 2026-08-27.
Is WPM a good diversifier for AU?
No: a correlation of 0.82 means AU and WPM tend to fall together, which is precisely when diversification is supposed to help.
What does a correlation of 0.82 mean?
On the −1 to +1 scale, 0.82 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/au-vs-wpm.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/au-vs-wpm/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: AU correlations · WPM correlations
