CGAU vs SA: Correlation
How closely do Centerra Gold Inc. (CGAU) and Seabridge Gold, Inc. (SA) trade together? Their weekly returns over three years give a correlation of 0.75, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CGAU and SA?
On 3 years of weekly data the CGAU/SA correlation comes out at 0.75, strong. Little has changed lately, as the 1-year reading of 0.80 lands near the 3-year figure. The 5-year figure is 0.71, and annualized covariance runs at 1947.4 %².
Among the 20 assets we track against CGAU, SA ranks #8 by 3-year correlation. Correlation aside, the last 12 months split them widely, with CGAU ahead by 108.3 points (+213.4% versus +105.1%).
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.
CGAU vs SA: side by side
| CGAU (Centerra Gold Inc.) | SA (Seabridge Gold, Inc.) | |
|---|---|---|
| 1-year return | +213.4% | +105.1% |
| 5-year return | +269.1% | +93.2% |
| Volatility (ann.) | 45.7% | 56.7% |
| Beta vs S&P 500 | 1.13 | 1.46 |
| Max drawdown (3Y) | -29.5% | -52.5% |
| Market cap | $4.7B | $3.7B |
| P/E (trailing) | 7.6 | 179.3 |
| Dividend yield | 0.84% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CGAU | SA |
|---|---|---|
| 2022 | -30.2% | -23.7% |
| 2023 | +19.4% | -3.6% |
| 2024 | -1.4% | -5.9% |
| 2025 | +156.7% | +159.3% |
| 2026 | +70.1% | +15.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CGAU and SA good diversifiers for each other?
Only partially. A correlation of 0.75 means CGAU and SA share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between CGAU and SA?
As of 2026-08-27, the correlation of weekly returns between CGAU and SA is 0.75 over 3 years, 0.80 over 1 year and 0.71 over 5 years.
Is SA a good diversifier for CGAU?
Only partially. A correlation of 0.75 means CGAU and SA share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.75 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-sa.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/cgau-vs-sa/)
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Related comparisons
Hubs: CGAU correlations · SA correlations
