CTGO vs WPM: Correlation
Measured on weekly returns over the past three years, Contango Silver & Gold Inc. (CTGO) and Wheaton Precious Metals Corp (WPM) carry a correlation of 0.56, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CTGO and WPM?
Over the past 3 years, CTGO and WPM moved with a correlation of 0.56, which is moderate. The link has tightened recently: the 1-year correlation (0.79) runs above the 3-year figure (0.56). Over 5 years the correlation is 0.44, and the annualized covariance of weekly returns is 1530.9 %².
By 3-year correlation, WPM places #4 of the 11 assets tracked against CTGO. Their recent paths diverged sharply: over the last 12 months WPM outperformed by 67.6 percentage points (-3.3% for CTGO against +64.3% for WPM). Note the risk asymmetry: CTGO runs 1.6 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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 WPM: side by side
| CTGO (Contango Silver & Gold Inc.) | WPM (Wheaton Precious Metals Corp) | |
|---|---|---|
| 1-year return | -3.3% | +64.3% |
| 5-year return | +13.2% | +275.2% |
| Volatility (ann.) | 66.5% | 41.1% |
| Beta vs S&P 500 | 1.34 | 0.82 |
| Max drawdown (3Y) | -64.1% | -37.4% |
| Market cap | $0.7B | $71.8B |
| P/E (trailing) | – | 34.6 |
| Dividend yield | 0.00% | 0.46% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CTGO | WPM |
|---|---|---|
| 2022 | -10.5% | -7.5% |
| 2023 | -21.0% | +27.9% |
| 2024 | -44.7% | +15.2% |
| 2025 | +163.6% | +109.8% |
| 2026 | -22.8% | +35.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CTGO and WPM good diversifiers for each other?
To a limited degree. At 0.56 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 CTGO and WPM?
Using weekly returns as of 2026-08-27: 0.56 over 3 years, with 0.79 over the last year and 0.44 over 5 years.
Is WPM a good diversifier for CTGO?
To a limited degree. At 0.56 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 0.56 mean?
A reading of 0.56 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-wpm.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/ctgo-vs-wpm/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CTGO correlations · WPM correlations
