DNN vs EU: Correlation
Measured on weekly returns over the past three years, Denison Mines Corp (DNN) and enCore Energy Corp. (EU) carry a correlation of 0.76, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DNN and EU?
Over the past 3 years, DNN and EU moved with a correlation of 0.76, which is strong. Little has changed lately, as the 1-year reading of 0.84 lands near the 3-year figure. Over 5 years the correlation is 0.76, and the annualized covariance of weekly returns is 2839.7 %².
Within DNN's tracked universe of 19 assets, EU comes in at #8 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months DNN outperformed by 108.1 percentage points (+69.1% for DNN against -39.0% for EU).
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.
DNN vs EU: side by side
| DNN (Denison Mines Corp) | EU (enCore Energy Corp.) | |
|---|---|---|
| 1-year return | +69.1% | -39.0% |
| 5-year return | +211.0% | -60.1% |
| Volatility (ann.) | 55.6% | 67.3% |
| Beta vs S&P 500 | 1.35 | 1.98 |
| Max drawdown (3Y) | -52.5% | -78.7% |
| Market cap | $3.3B | $0.3B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | DNN | EU |
|---|---|---|
| 2022 | -16.1% | -39.0% |
| 2023 | +53.9% | +66.5% |
| 2024 | +1.7% | -13.2% |
| 2025 | +47.8% | -27.3% |
| 2026 | +38.0% | -44.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DNN and EU good diversifiers for each other?
Only partially. A correlation of 0.76 means DNN and EU 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 DNN and EU?
As of 2026-08-27, the correlation of weekly returns between DNN and EU is 0.76 over 3 years, 0.84 over 1 year and 0.76 over 5 years.
Is EU a good diversifier for DNN?
Only partially. A correlation of 0.76 means DNN and EU share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.76 mean?
On the −1 to +1 scale, 0.76 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: DNN correlations · EU correlations
