BTG vs NFGC: Correlation
B2Gold Corp (BTG) and New Found Gold Corp (NFGC) show a strong relationship: their 3-year correlation of weekly returns is 0.60.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BTG and NFGC?
Across a 3-year window, the weekly returns of BTG and NFGC correlate at 0.60, strong. The relationship has been stable: the 1-year correlation (0.66) sits close to the 3-year figure. Stretching to 5 years gives 0.57, with an annualized covariance of 2156.2 %².
Among the 16 assets we track against BTG, NFGC ranks #9 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months BTG outperformed by 29.5 percentage points (+44.9% for BTG against +15.4% for NFGC).
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 NFGC: side by side
| BTG (B2Gold Corp) | NFGC (New Found Gold Corp) | |
|---|---|---|
| 1-year return | +44.9% | +15.4% |
| 5-year return | +85.7% | -71.1% |
| Volatility (ann.) | 55.7% | 64.2% |
| Beta vs S&P 500 | 1.12 | 1.22 |
| Max drawdown (3Y) | -40.7% | -78.7% |
| Market cap | $7.7B | $0.7B |
| P/E (trailing) | 10.4 | – |
| Dividend yield | 1.39% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BTG | NFGC |
|---|---|---|
| 2022 | -5.1% | -43.5% |
| 2023 | -7.2% | -13.4% |
| 2024 | -18.1% | -48.0% |
| 2025 | +87.2% | +63.2% |
| 2026 | +30.4% | -34.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BTG and NFGC good diversifiers for each other?
Somewhat, no more. With 0.60 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between BTG and NFGC?
The BTG/NFGC correlation stands at 0.60 on a 3-year window (1 year: 0.66, 5 years: 0.57), computed from weekly returns as of 2026-08-27.
Is NFGC a good diversifier for BTG?
Somewhat, no more. With 0.60 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.60 mean?
On the −1 to +1 scale, 0.60 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-nfgc.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/btg-vs-nfgc/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: BTG correlations · NFGC correlations
