AYA vs PAAS: Correlation
Aya Gold & Silver Inc. (AYA) and Pan American Silver Corp. (PAAS) show a strong relationship: their 3-year correlation of weekly returns is 0.73.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AYA and PAAS?
Across a 3-year window, the weekly returns of AYA and PAAS correlate at 0.73, strong. Little has changed lately, as the 1-year reading of 0.81 lands near the 3-year figure. Stretching to 5 years gives 0.67, with an annualized covariance of 2926.4 %².
Few assets follow AYA as closely as PAAS, which ranks #3 of 14 tracked partners. The last year tells two different stories: AYA led by 144.7 percentage points, +212.6% for AYA against +67.9% for PAAS.
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.
AYA vs PAAS: side by side
| AYA (Aya Gold & Silver Inc.) | PAAS (Pan American Silver Corp.) | |
|---|---|---|
| 1-year return | +212.6% | +67.9% |
| 5-year return | +267.0% | +135.6% |
| Volatility (ann.) | 73.7% | 54.5% |
| Beta vs S&P 500 | 1.95 | 1.11 |
| Max drawdown (3Y) | -56.1% | -38.8% |
| Market cap | $4.2B | $22.8B |
| P/E (trailing) | 36.2 | 16.2 |
| Dividend yield | 0.00% | 1.18% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AYA | PAAS |
|---|---|---|
| 2022 | -11.0% | -33.0% |
| 2023 | +10.4% | +2.5% |
| 2024 | +2.0% | +26.6% |
| 2025 | +92.4% | +158.4% |
| 2026 | +103.8% | +6.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AYA and PAAS good diversifiers for each other?
Somewhat, no more. With 0.73 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between AYA and PAAS?
The AYA/PAAS correlation stands at 0.73 on a 3-year window (1 year: 0.81, 5 years: 0.67), computed from weekly returns as of 2026-08-27.
Is PAAS a good diversifier for AYA?
Somewhat, no more. With 0.73 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.73 mean?
On the −1 to +1 scale, 0.73 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/aya-vs-paas.json
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Related comparisons
Hubs: AYA correlations · PAAS correlations
