EXK vs MTA: Correlation
Measured on weekly returns over the past three years, Endeavour Silver Corporation (EXK) and Metalla Royalty & Streaming Ltd. (MTA) carry a correlation of 0.67, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EXK and MTA?
Across a 3-year window, the weekly returns of EXK and MTA correlate at 0.67, strong. The relationship has been stable: the 1-year correlation (0.72) sits close to the 3-year figure. Stretching to 5 years gives 0.68, with an annualized covariance of 2546.7 %².
Among the 16 assets we track against EXK, MTA ranks #9 by 3-year correlation. Correlation aside, the last 12 months split them widely, with MTA ahead by 29.5 points (+90.2% versus +119.7%).
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.
EXK vs MTA: side by side
| EXK (Endeavour Silver Corporation) | MTA (Metalla Royalty & Streaming Ltd.) | |
|---|---|---|
| 1-year return | +90.2% | +119.7% |
| 5-year return | +146.7% | +45.5% |
| Volatility (ann.) | 74.1% | 51.6% |
| Beta vs S&P 500 | 1.93 | 1.16 |
| Max drawdown (3Y) | -51.3% | -44.4% |
| Market cap | $3.3B | $1.0B |
| P/E (trailing) | 53.8 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | EXK | MTA |
|---|---|---|
| 2022 | -23.2% | -29.1% |
| 2023 | -39.2% | -37.0% |
| 2024 | +85.8% | -18.5% |
| 2025 | +156.8% | +210.0% |
| 2026 | +20.2% | +41.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EXK and MTA good diversifiers for each other?
Only partially. A correlation of 0.67 means EXK and MTA 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 EXK and MTA?
The EXK/MTA correlation stands at 0.67 on a 3-year window (1 year: 0.72, 5 years: 0.68), computed from weekly returns as of 2026-08-27.
Is MTA a good diversifier for EXK?
Only partially. A correlation of 0.67 means EXK and MTA share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.67 mean?
On the −1 to +1 scale, 0.67 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: EXK correlations · MTA correlations
