CRML vs MUX: Correlation
How closely do Critical Metals Corp. (CRML) and McEwen Inc. (MUX) trade together? Their weekly returns over three years give a correlation of 0.39, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CRML and MUX?
Across a 3-year window, the weekly returns of CRML and MUX correlate at 0.39, moderate. The link has tightened recently: the 1-year correlation (0.55) runs above the 3-year figure (0.39). Stretching to 5 years gives 0.28, with an annualized covariance of 3175.8 %².
By 3-year correlation, MUX places #5 of the 11 assets tracked against CRML. Correlation aside, the last 12 months split them widely, with MUX ahead by 73.8 points (+23.5% versus +97.3%). One caveat on sizing: CRML is 2.5 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.
CRML vs MUX: side by side
| CRML (Critical Metals Corp.) | MUX (McEwen Inc.) | |
|---|---|---|
| 1-year return | +23.5% | +97.3% |
| 5-year return | -19.1% | +90.0% |
| Volatility (ann.) | 144.4% | 56.7% |
| Beta vs S&P 500 | 2.11 | 1.41 |
| Max drawdown (3Y) | -93.9% | -46.5% |
| Market cap | $1.2B | $1.3B |
| P/E (trailing) | – | 16.7 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CRML | MUX |
|---|---|---|
| 2022 | – | -33.9% |
| 2023 | +7.7% | +23.0% |
| 2024 | -38.3% | +7.9% |
| 2025 | +2.2% | +137.9% |
| 2026 | +15.9% | +17.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CRML and MUX good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.39 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between CRML and MUX?
As of 2026-08-27, the correlation of weekly returns between CRML and MUX is 0.39 over 3 years, 0.55 over 1 year and 0.28 over 5 years.
Is MUX a good diversifier for CRML?
Yes, to a useful degree: a correlation of 0.39 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.39 mean?
On the −1 to +1 scale, 0.39 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
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Related comparisons
Hubs: CRML correlations · MUX correlations
