CNL vs ITRG: Correlation
How closely do Collective Mining Ltd. (CNL) and Integra Resources Corp. (ITRG) trade together? Their weekly returns over three years give a correlation of 0.62, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CNL and ITRG?
On 3 years of weekly data the CNL/ITRG correlation comes out at 0.62, strong. The past 12 months show a tighter link (0.77) than the 3-year average (0.62). The 5-year figure is 0.21, and annualized covariance runs at 2347.3 %².
Few assets follow CNL as closely as ITRG, which ranks #1 of 10 tracked partners. Over the last 12 months ITRG came out ahead by 8.3 percentage points (+31.0% against +39.3%).
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.
CNL vs ITRG: side by side
| CNL (Collective Mining Ltd.) | ITRG (Integra Resources Corp.) | |
|---|---|---|
| 1-year return | +31.0% | +39.3% |
| 5-year return | +565.6% | +6.9% |
| Volatility (ann.) | 59.9% | 63.1% |
| Beta vs S&P 500 | 0.70 | 1.11 |
| Max drawdown (3Y) | -51.6% | -55.8% |
| Market cap | $1.5B | $0.6B |
| P/E (trailing) | – | 73.5 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CNL | ITRG |
|---|---|---|
| 2022 | -12.8% | -70.6% |
| 2023 | +67.4% | +67.5% |
| 2024 | +29.6% | -17.9% |
| 2025 | +250.7% | +360.9% |
| 2026 | +9.8% | -26.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CNL and ITRG good diversifiers for each other?
To a limited degree. At 0.62 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 CNL and ITRG?
Using weekly returns as of 2026-08-27: 0.62 over 3 years, with 0.77 over the last year and 0.21 over 5 years.
Is ITRG a good diversifier for CNL?
To a limited degree. At 0.62 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 0.62 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
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Related comparisons
Hubs: CNL correlations · ITRG correlations
