DNN vs UEC: Correlation
Denison Mines Corp (DNN) and Uranium Energy Corp. (UEC) show a very strong relationship: their 3-year correlation of weekly returns is 0.87.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DNN and UEC?
Over the past 3 years, DNN and UEC moved with a correlation of 0.87, which is very strong, meaning they move nearly in lockstep. Recent behaviour matches the longer record: 0.84 over 1 year against 0.87 over 3. Over 5 years the correlation is 0.84, and the annualized covariance of weekly returns is 3058.9 %².
UEC is one of the assets that tracks DNN most closely: it ranks #2 out of the 19 assets we track against DNN. Correlation aside, the last 12 months split them widely, with DNN ahead by 37.8 points (+69.1% versus +31.3%).
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 UEC: side by side
| DNN (Denison Mines Corp) | UEC (Uranium Energy Corp.) | |
|---|---|---|
| 1-year return | +69.1% | +31.3% |
| 5-year return | +211.0% | +467.5% |
| Volatility (ann.) | 55.6% | 63.2% |
| Beta vs S&P 500 | 1.35 | 1.71 |
| Max drawdown (3Y) | -52.5% | -55.1% |
| Market cap | $3.3B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | DNN | UEC |
|---|---|---|
| 2022 | -16.1% | +15.8% |
| 2023 | +53.9% | +64.9% |
| 2024 | +1.7% | +4.5% |
| 2025 | +47.8% | +74.6% |
| 2026 | +38.0% | +16.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DNN and UEC good diversifiers for each other?
Not really. At 0.87, the two trade almost as one position, and owning both buys little extra protection.
FAQ
What is the correlation between DNN and UEC?
As of 2026-08-27, the correlation of weekly returns between DNN and UEC is 0.87 over 3 years, 0.84 over 1 year and 0.84 over 5 years.
Is UEC a good diversifier for DNN?
Not really. At 0.87, the two trade almost as one position, and owning both buys little extra protection.
What does a correlation of 0.87 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/dnn-vs-uec.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/dnn-vs-uec/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: DNN correlations · UEC correlations
