CGAU vs MAKO: Correlation
Centerra Gold Inc. (CGAU) and Mako Mining Corp (MAKO) show a strong relationship: their 3-year correlation of weekly returns is 0.64.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CGAU and MAKO?
On 3 years of weekly data the CGAU/MAKO correlation comes out at 0.64, strong. The past 12 months show a tighter link (0.82) than the 3-year average (0.64). The 5-year figure is 0.52, and annualized covariance runs at 1691.5 %².
Within CGAU's tracked universe of 20 assets, MAKO comes in at #11 by 3-year correlation. The last year tells two different stories: CGAU led by 65.8 percentage points, +213.4% for CGAU against +147.6% for MAKO.
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 MAKO: side by side
| CGAU (Centerra Gold Inc.) | MAKO (Mako Mining Corp) | |
|---|---|---|
| 1-year return | +213.4% | +147.6% |
| 5-year return | +269.1% | +320.0% |
| Volatility (ann.) | 45.7% | 57.6% |
| Beta vs S&P 500 | 1.13 | 1.23 |
| Max drawdown (3Y) | -29.5% | -31.9% |
| Market cap | $4.7B | $1.0B |
| P/E (trailing) | 7.6 | 18.5 |
| Dividend yield | 0.84% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CGAU | MAKO |
|---|---|---|
| 2022 | -30.2% | -67.7% |
| 2023 | +19.4% | +105.0% |
| 2024 | -1.4% | +7.8% |
| 2025 | +156.7% | +162.4% |
| 2026 | +70.1% | +88.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CGAU and MAKO good diversifiers for each other?
To a limited degree. At 0.64 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 MAKO?
The CGAU/MAKO correlation stands at 0.64 on a 3-year window (1 year: 0.82, 5 years: 0.52), computed from weekly returns as of 2026-08-27.
Is MAKO a good diversifier for CGAU?
To a limited degree. At 0.64 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 0.64 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-mako.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/cgau-vs-mako/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: CGAU correlations · MAKO correlations
