CCJ vs DNN: Correlation
Cameco Corporation (CCJ) and Denison Mines Corp (DNN) show a very strong relationship: their 3-year correlation of weekly returns is 0.83.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CCJ and DNN?
On 3 years of weekly data the CCJ/DNN correlation comes out at 0.83, very strong, meaning they move nearly in lockstep. The relationship has been stable: the 1-year correlation (0.85) sits close to the 3-year figure. The 5-year figure is 0.86, and annualized covariance runs at 2045.3 %².
In CCJ's tracked universe of 15 assets, DNN sits right near the top at #2. Correlation aside, the last 12 months split them widely, with DNN ahead by 27.6 points (+41.5% versus +69.1%).
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.
CCJ vs DNN: side by side
| CCJ (Cameco Corporation) | DNN (Denison Mines Corp) | |
|---|---|---|
| 1-year return | +41.5% | +69.1% |
| 5-year return | +501.7% | +211.0% |
| Volatility (ann.) | 44.1% | 55.6% |
| Beta vs S&P 500 | 1.33 | 1.35 |
| Max drawdown (3Y) | -40.0% | -52.5% |
| Market cap | $46.3B | $3.3B |
| P/E (trailing) | 183.3 | – |
| Dividend yield | 0.22% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CCJ | DNN |
|---|---|---|
| 2022 | +4.3% | -16.1% |
| 2023 | +90.5% | +53.9% |
| 2024 | +19.5% | +1.7% |
| 2025 | +78.4% | +47.8% |
| 2026 | +16.2% | +38.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CCJ and DNN good diversifiers for each other?
No. With a correlation of 0.83, CCJ and DNN move nearly in lockstep, so holding both adds very little diversification.
FAQ
What is the correlation between CCJ and DNN?
As of 2026-08-27, the correlation of weekly returns between CCJ and DNN is 0.83 over 3 years, 0.85 over 1 year and 0.86 over 5 years.
Is DNN a good diversifier for CCJ?
No. With a correlation of 0.83, CCJ and DNN move nearly in lockstep, so holding both adds very little diversification.
What does a correlation of 0.83 mean?
On the −1 to +1 scale, 0.83 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/ccj-vs-dnn.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/ccj-vs-dnn/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: CCJ correlations · DNN correlations
