B vs BTG: Correlation
Barrick Mining Corporation (B) and B2Gold Corp (BTG) show a strong relationship: their 3-year correlation of weekly returns is 0.79.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are B and BTG?
On 3 years of weekly data the B/BTG correlation comes out at 0.79, strong. Little has changed lately, as the 1-year reading of 0.78 lands near the 3-year figure. The 5-year figure is 0.79, and annualized covariance runs at 1789.3 %².
Within B's tracked universe of 17 assets, BTG comes in at #8 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months B outperformed by 38.2 percentage points (+83.1% for B against +44.9% for BTG).
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.
B vs BTG: side by side
| B (Barrick Mining Corporation) | BTG (B2Gold Corp) | |
|---|---|---|
| 1-year return | +83.1% | +44.9% |
| 5-year return | +171.9% | +85.7% |
| Volatility (ann.) | 40.7% | 55.7% |
| Beta vs S&P 500 | 0.87 | 1.12 |
| Max drawdown (3Y) | -33.4% | -40.7% |
| Market cap | $77.9B | $7.7B |
| P/E (trailing) | 12.2 | 10.4 |
| Dividend yield | 1.38% | 1.39% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | B | BTG |
|---|---|---|
| 2022 | -6.2% | -5.1% |
| 2023 | +7.9% | -7.2% |
| 2024 | -12.3% | -18.1% |
| 2025 | +186.9% | +87.2% |
| 2026 | +10.0% | +30.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are B and BTG good diversifiers for each other?
Only partially. A correlation of 0.79 means B and BTG share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between B and BTG?
Using weekly returns as of 2026-08-27: 0.79 over 3 years, with 0.78 over the last year and 0.79 over 5 years.
Is BTG a good diversifier for B?
Only partially. A correlation of 0.79 means B and BTG share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.79 mean?
A reading of 0.79 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/b-vs-btg.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/b-vs-btg/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: B correlations · BTG correlations
