CGAU vs ELE: Correlation
Centerra Gold Inc. (CGAU) and Elemental Royalty Corporation (ELE) show a strong relationship: their 3-year correlation of weekly returns is 0.61.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CGAU and ELE?
On 3 years of weekly data the CGAU/ELE correlation comes out at 0.61, strong. The past 12 months show a tighter link (0.74) than the 3-year average (0.61). The 5-year figure is 0.55, and annualized covariance runs at 1226.7 %².
Among the 20 assets we track against CGAU, ELE ranks #14 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months CGAU outperformed by 160.7 percentage points (+213.4% for CGAU against +52.7% for ELE).
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.
CGAU vs ELE: side by side
| CGAU (Centerra Gold Inc.) | ELE (Elemental Royalty Corporation) | |
|---|---|---|
| 1-year return | +213.4% | +52.7% |
| 5-year return | +269.1% | +117.9% |
| Volatility (ann.) | 45.7% | 44.3% |
| Beta vs S&P 500 | 1.13 | 0.87 |
| Max drawdown (3Y) | -29.5% | -40.9% |
| Market cap | $4.7B | $1.4B |
| P/E (trailing) | 7.6 | – |
| Dividend yield | 0.84% | 0.27% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CGAU | ELE |
|---|---|---|
| 2022 | -30.2% | -25.3% |
| 2023 | +19.4% | -15.4% |
| 2024 | -1.4% | -3.9% |
| 2025 | +156.7% | +114.0% |
| 2026 | +70.1% | +32.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CGAU and ELE good diversifiers for each other?
To a limited degree. At 0.61 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 CGAU and ELE?
The CGAU/ELE correlation stands at 0.61 on a 3-year window (1 year: 0.74, 5 years: 0.55), computed from weekly returns as of 2026-08-27.
Is ELE a good diversifier for CGAU?
To a limited degree. At 0.61 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 0.61 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/cgau-vs-ele.json
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Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: CGAU correlations · ELE correlations
