CTGO vs MF: Correlation
Measured on weekly returns over the past three years, Contango Silver & Gold Inc. (CTGO) and MindForge Inc. - Class A (MF) carry a correlation of -0.24, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CTGO and MF?
Across a 3-year window, the weekly returns of CTGO and MF correlate at -0.24, negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.03) than the 3-year average (-0.24). Stretching to 5 years gives n/a, with an annualized covariance of -13453.4 %².
Out of 11 assets tracked against CTGO, MF lands near the bottom at #10. Correlation aside, the last 12 months split them widely, with CTGO ahead by 68.3 points (-3.3% versus -71.6%). Risk is not evenly split, since MF carries 12.5 times the volatility of the other side.
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.
CTGO vs MF: side by side
| CTGO (Contango Silver & Gold Inc.) | MF (MindForge Inc. - Class A) | |
|---|---|---|
| 1-year return | -3.3% | -71.6% |
| 5-year return | +13.2% | n/a |
| Volatility (ann.) | 66.5% | 830.3% |
| Beta vs S&P 500 | 1.34 | 3.38 |
| Max drawdown (3Y) | -64.1% | -99.7% |
| Market cap | $0.7B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CTGO | MF |
|---|---|---|
| 2022 | -10.5% | – |
| 2023 | -21.0% | – |
| 2024 | -44.7% | – |
| 2025 | +163.6% | -40.7% |
| 2026 | -22.8% | -62.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CTGO and MF good diversifiers for each other?
Yes: at -0.24, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between CTGO and MF?
As of 2026-08-27, the correlation of weekly returns between CTGO and MF is -0.24 over 3 years, -0.03 over 1 year and n/a over 5 years.
Is MF a good diversifier for CTGO?
Yes: at -0.24, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.24 mean?
A reading of -0.24 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/ctgo-vs-mf.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/ctgo-vs-mf/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: CTGO correlations · MF correlations
