DC vs PAAS: Correlation
Dakota Gold Corp. (DC) and Pan American Silver Corp. (PAAS) show a strong relationship: their 3-year correlation of weekly returns is 0.65.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DC and PAAS?
On 3 years of weekly data the DC/PAAS correlation comes out at 0.65, strong. Lately the two have moved closer together, with the 1-year correlation at 0.76 versus 0.65 over 3 years. The 5-year figure is 0.59, and annualized covariance runs at 2176.9 %².
In DC's tracked universe of 12 assets, PAAS sits right near the top at #2. The last year tells two different stories: PAAS led by 18.6 percentage points, +49.3% for DC against +67.9% for PAAS.
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.
DC vs PAAS: side by side
| DC (Dakota Gold Corp.) | PAAS (Pan American Silver Corp.) | |
|---|---|---|
| 1-year return | +49.3% | +67.9% |
| 5-year return | -9.6% | +135.6% |
| Volatility (ann.) | 61.3% | 54.5% |
| Beta vs S&P 500 | 1.26 | 1.11 |
| Max drawdown (3Y) | -41.7% | -38.8% |
| Market cap | $0.8B | $22.8B |
| P/E (trailing) | – | 16.2 |
| Dividend yield | 0.00% | 1.18% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | DC | PAAS |
|---|---|---|
| 2022 | – | -33.0% |
| 2023 | -14.1% | +2.5% |
| 2024 | -16.0% | +26.6% |
| 2025 | +158.2% | +158.4% |
| 2026 | +9.9% | +6.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DC and PAAS good diversifiers for each other?
Only partially. A correlation of 0.65 means DC and PAAS share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between DC and PAAS?
Using weekly returns as of 2026-08-27: 0.65 over 3 years, with 0.76 over the last year and 0.59 over 5 years.
Is PAAS a good diversifier for DC?
Only partially. A correlation of 0.65 means DC and PAAS share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.65 mean?
A reading of 0.65 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/dc-vs-paas.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/dc-vs-paas/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: DC correlations · PAAS correlations
