EQX vs KGC: Correlation
How closely do Equinox Gold Corp. (EQX) and Kinross Gold Corporation (KGC) trade together? Their weekly returns over three years give a correlation of 0.76, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EQX and KGC?
Across a 3-year window, the weekly returns of EQX and KGC correlate at 0.76, strong. The past 12 months show a tighter link (0.88) than the 3-year average (0.76). Stretching to 5 years gives 0.77, with an annualized covariance of 2047.1 %².
Among the 16 assets we track against EQX, KGC ranks #4 by 3-year correlation. Neither side won the trailing year by much: +64.7% against +61.5%.
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.
EQX vs KGC: side by side
| EQX (Equinox Gold Corp.) | KGC (Kinross Gold Corporation) | |
|---|---|---|
| 1-year return | +64.7% | +61.5% |
| 5-year return | +98.0% | +495.9% |
| Volatility (ann.) | 56.6% | 47.3% |
| Beta vs S&P 500 | 1.19 | 0.97 |
| Max drawdown (3Y) | -54.0% | -40.7% |
| Market cap | $15.7B | $38.6B |
| P/E (trailing) | 21.0 | 12.3 |
| Dividend yield | 0.22% | 0.48% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | EQX | KGC |
|---|---|---|
| 2022 | -51.5% | -27.6% |
| 2023 | +49.1% | +51.8% |
| 2024 | +2.7% | +55.6% |
| 2025 | +179.7% | +205.7% |
| 2026 | -3.8% | +15.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EQX and KGC good diversifiers for each other?
To a limited degree. At 0.76 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 EQX and KGC?
As of 2026-08-27, the correlation of weekly returns between EQX and KGC is 0.76 over 3 years, 0.88 over 1 year and 0.77 over 5 years.
Is KGC a good diversifier for EQX?
To a limited degree. At 0.76 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 0.76 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/eqx-vs-kgc.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/eqx-vs-kgc/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: EQX correlations · KGC correlations
