CDE vs OGC: Correlation
How closely do Coeur Mining, Inc. (CDE) and OceanaGold Corporation (OGC) trade together? Their weekly returns over three years give a correlation of 0.78, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CDE and OGC?
Across a 3-year window, the weekly returns of CDE and OGC correlate at 0.78, strong. Recent behaviour matches the longer record: 0.84 over 1 year against 0.78 over 3. Stretching to 5 years gives 0.66, with an annualized covariance of 2908.3 %².
By 3-year correlation, OGC places #4 of the 10 assets tracked against CDE. Their 12-month results are close: +78.3% for CDE against +82.6% for OGC.
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.
CDE vs OGC: side by side
| CDE (Coeur Mining, Inc.) | OGC (OceanaGold Corporation) | |
|---|---|---|
| 1-year return | +78.3% | +82.6% |
| 5-year return | +222.7% | +489.5% |
| Volatility (ann.) | 74.8% | 50.1% |
| Beta vs S&P 500 | 1.98 | 0.86 |
| Max drawdown (3Y) | -47.8% | -47.7% |
| Market cap | $22.8B | $7.0B |
| P/E (trailing) | 18.7 | 8.1 |
| Dividend yield | 0.09% | 0.78% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CDE | OGC |
|---|---|---|
| 2022 | -33.3% | +9.8% |
| 2023 | -3.0% | +2.1% |
| 2024 | +75.5% | +45.1% |
| 2025 | +211.7% | +243.9% |
| 2026 | +24.7% | +12.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CDE and OGC good diversifiers for each other?
To a limited degree. At 0.78 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 CDE and OGC?
The CDE/OGC correlation stands at 0.78 on a 3-year window (1 year: 0.84, 5 years: 0.66), computed from weekly returns as of 2026-08-27.
Is OGC a good diversifier for CDE?
To a limited degree. At 0.78 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 0.78 mean?
On the −1 to +1 scale, 0.78 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.
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Related comparisons
Hubs: CDE correlations · OGC correlations
