CTGO vs TMC: Correlation
Contango Silver & Gold Inc. (CTGO) and TMC the metals company Inc. (TMC) show a moderate relationship: their 3-year correlation of weekly returns is 0.38.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CTGO and TMC?
Across a 3-year window, the weekly returns of CTGO and TMC correlate at 0.38, moderate. The link has tightened recently: the 1-year correlation (0.52) runs above the 3-year figure (0.38). Stretching to 5 years gives 0.20, with an annualized covariance of 2392.4 %².
By 3-year correlation, TMC places #6 of the 11 assets tracked against CTGO. Their 12-month results are close: -3.3% for CTGO against -4.1% for TMC.
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 TMC: side by side
| CTGO (Contango Silver & Gold Inc.) | TMC (TMC the metals company Inc.) | |
|---|---|---|
| 1-year return | -3.3% | -4.1% |
| 5-year return | +13.2% | -45.9% |
| Volatility (ann.) | 66.5% | 94.3% |
| Beta vs S&P 500 | 1.34 | 1.21 |
| Max drawdown (3Y) | -64.1% | -67.7% |
| Market cap | $0.7B | $2.9B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CTGO | TMC |
|---|---|---|
| 2022 | -10.5% | -63.0% |
| 2023 | -21.0% | +42.9% |
| 2024 | -44.7% | +1.8% |
| 2025 | +163.6% | +450.9% |
| 2026 | -22.8% | -17.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CTGO and TMC good diversifiers for each other?
A fair diversifier. At 0.38, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between CTGO and TMC?
The CTGO/TMC correlation stands at 0.38 on a 3-year window (1 year: 0.52, 5 years: 0.20), computed from weekly returns as of 2026-08-27.
Is TMC a good diversifier for CTGO?
A fair diversifier. At 0.38, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.38 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/ctgo-vs-tmc.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/ctgo-vs-tmc/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: CTGO correlations · TMC correlations
