BTG vs GAU: Correlation
B2Gold Corp (BTG) and Galiano Gold Inc. (GAU) show a strong relationship: their 3-year correlation of weekly returns is 0.67.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BTG and GAU?
Across a 3-year window, the weekly returns of BTG and GAU correlate at 0.67, strong. The past 12 months show a tighter link (0.81) than the 3-year average (0.67). Stretching to 5 years gives 0.65, with an annualized covariance of 2634.8 %².
By 3-year correlation, GAU places #6 of the 16 assets tracked against BTG. The last year tells two different stories: BTG led by 31.8 percentage points, +44.9% for BTG against +13.1% for GAU.
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.
BTG vs GAU: side by side
| BTG (B2Gold Corp) | GAU (Galiano Gold Inc.) | |
|---|---|---|
| 1-year return | +44.9% | +13.1% |
| 5-year return | +85.7% | +183.5% |
| Volatility (ann.) | 55.7% | 70.6% |
| Beta vs S&P 500 | 1.12 | 0.93 |
| Max drawdown (3Y) | -40.7% | -51.8% |
| Market cap | $7.7B | $0.6B |
| P/E (trailing) | 10.4 | 8.9 |
| Dividend yield | 1.39% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BTG | GAU |
|---|---|---|
| 2022 | -5.1% | -25.7% |
| 2023 | -7.2% | +80.8% |
| 2024 | -18.1% | +30.9% |
| 2025 | +87.2% | +105.7% |
| 2026 | +30.4% | -4.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BTG and GAU good diversifiers for each other?
Somewhat, no more. With 0.67 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between BTG and GAU?
As of 2026-08-27, the correlation of weekly returns between BTG and GAU is 0.67 over 3 years, 0.81 over 1 year and 0.65 over 5 years.
Is GAU a good diversifier for BTG?
Somewhat, no more. With 0.67 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.67 mean?
On the −1 to +1 scale, 0.67 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/btg-vs-gau.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/btg-vs-gau/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: BTG correlations · GAU correlations
