BVN vs PAAS: Correlation
Measured on weekly returns over the past three years, Buenaventura Mining Company Inc. (BVN) and Pan American Silver Corp. (PAAS) carry a correlation of 0.60, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BVN and PAAS?
Over the past 3 years, BVN and PAAS moved with a correlation of 0.60, which is strong. The link has tightened recently: the 1-year correlation (0.78) runs above the 3-year figure (0.60). Over 5 years the correlation is 0.58, and the annualized covariance of weekly returns is 1472.1 %².
By 3-year correlation, PAAS places #5 of the 11 assets tracked against BVN. Their recent paths diverged sharply: over the last 12 months BVN outperformed by 32.7 percentage points (+100.6% for BVN 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.
BVN vs PAAS: side by side
| BVN (Buenaventura Mining Company Inc.) | PAAS (Pan American Silver Corp.) | |
|---|---|---|
| 1-year return | +100.6% | +67.9% |
| 5-year return | +411.8% | +135.6% |
| Volatility (ann.) | 44.9% | 54.5% |
| Beta vs S&P 500 | 0.86 | 1.11 |
| Max drawdown (3Y) | -38.3% | -38.8% |
| Market cap | – | $22.8B |
| P/E (trailing) | 8.8 | 16.2 |
| Dividend yield | 3.14% | 1.18% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BVN | PAAS |
|---|---|---|
| 2022 | +2.5% | -33.0% |
| 2023 | +106.5% | +2.5% |
| 2024 | -24.1% | +26.6% |
| 2025 | +146.4% | +158.4% |
| 2026 | +34.2% | +6.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BVN and PAAS good diversifiers for each other?
To a limited degree. At 0.60 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 BVN and PAAS?
Using weekly returns as of 2026-08-27: 0.60 over 3 years, with 0.78 over the last year and 0.58 over 5 years.
Is PAAS a good diversifier for BVN?
To a limited degree. At 0.60 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 0.60 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
$ curl https://www.pairbook.io/api/v1/pairs/bvn-vs-paas.json
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Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: BVN correlations · PAAS correlations
