BCX vs TGB: Correlation
How closely do BlackRock Resources (BCX) and Trekor Metals Limited (TGB) trade together? Their weekly returns over three years give a correlation of 0.63, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BCX and TGB?
Over the past 3 years, BCX and TGB moved with a correlation of 0.63, which is strong. The relationship has been stable: the 1-year correlation (0.64) sits close to the 3-year figure. Over 5 years the correlation is 0.59, and the annualized covariance of weekly returns is 779.5 %².
Among the 17 assets we track against BCX, TGB ranks #4 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months TGB outperformed by 162.9 percentage points (+41.5% for BCX against +204.4% for TGB). One caveat on sizing: TGB is 3.1 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
BCX vs TGB: side by side
| BCX (BlackRock Resources) | TGB (Trekor Metals Limited) | |
|---|---|---|
| 1-year return | +41.5% | +204.4% |
| 5-year return | +98.3% | +450.0% |
| Volatility (ann.) | 20.0% | 62.1% |
| Beta vs S&P 500 | 0.56 | 1.89 |
| Max drawdown (3Y) | -18.8% | -44.3% |
| Market cap | $1.0B | $3.5B |
| P/E (trailing) | 4.7 | 484.0 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BCX | TGB |
|---|---|---|
| 2022 | +12.8% | -28.3% |
| 2023 | -4.8% | -4.8% |
| 2024 | +3.2% | +38.6% |
| 2025 | +40.4% | +191.8% |
| 2026 | +24.5% | +71.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BCX and TGB good diversifiers for each other?
To a limited degree. At 0.63 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 BCX and TGB?
The BCX/TGB correlation stands at 0.63 on a 3-year window (1 year: 0.64, 5 years: 0.59), computed from weekly returns as of 2026-08-27.
Is TGB a good diversifier for BCX?
To a limited degree. At 0.63 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 0.63 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
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Related comparisons
Hubs: BCX correlations · TGB correlations
