CGAU vs VGZ: Correlation
How closely do Centerra Gold Inc. (CGAU) and Vista Gold Corp (VGZ) trade together? Their weekly returns over three years give a correlation of 0.63, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CGAU and VGZ?
Over the past 3 years, CGAU and VGZ moved with a correlation of 0.63, which is strong. The past 12 months show a tighter link (0.74) than the 3-year average (0.63). Over 5 years the correlation is 0.55, and the annualized covariance of weekly returns is 2203.4 %².
Within CGAU's tracked universe of 20 assets, VGZ comes in at #13 by 3-year correlation. Correlation aside, the last 12 months split them widely, with CGAU ahead by 109.1 points (+213.4% versus +104.3%). One caveat on sizing: VGZ is 1.7 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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 VGZ: side by side
| CGAU (Centerra Gold Inc.) | VGZ (Vista Gold Corp) | |
|---|---|---|
| 1-year return | +213.4% | +104.3% |
| 5-year return | +269.1% | +197.5% |
| Volatility (ann.) | 45.7% | 77.0% |
| Beta vs S&P 500 | 1.13 | 1.31 |
| Max drawdown (3Y) | -29.5% | -49.5% |
| Market cap | $4.7B | – |
| P/E (trailing) | 7.6 | – |
| Dividend yield | 0.84% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CGAU | VGZ |
|---|---|---|
| 2022 | -30.2% | -29.6% |
| 2023 | +19.4% | -10.0% |
| 2024 | -1.4% | +24.4% |
| 2025 | +156.7% | +251.8% |
| 2026 | +70.1% | +19.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CGAU and VGZ good diversifiers for each other?
Somewhat, no more. With 0.63 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between CGAU and VGZ?
As of 2026-08-27, the correlation of weekly returns between CGAU and VGZ is 0.63 over 3 years, 0.74 over 1 year and 0.55 over 5 years.
Is VGZ a good diversifier for CGAU?
Somewhat, no more. With 0.63 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.63 mean?
A reading of 0.63 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/cgau-vs-vgz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/cgau-vs-vgz/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: CGAU correlations · VGZ correlations
