EXK vs SLV: Correlation
Measured on weekly returns over the past three years, Endeavour Silver Corporation (EXK) and iShares Silver Trust (SLV) carry a correlation of 0.72, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EXK and SLV?
Across a 3-year window, the weekly returns of EXK and SLV correlate at 0.72, strong. Little has changed lately, as the 1-year reading of 0.77 lands near the 3-year figure. Stretching to 5 years gives 0.73, with an annualized covariance of 2061.7 %².
Within EXK's tracked universe of 16 assets, SLV comes in at #8 by 3-year correlation. Over the last 12 months EXK came out ahead by 10.8 percentage points (+90.2% against +79.4%). Risk is not evenly split, since EXK carries 1.9 times the volatility of the other side.
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 SLV: side by side
| EXK (Endeavour Silver Corporation) | SLV (iShares Silver Trust) | |
|---|---|---|
| 1-year return | +90.2% | +79.4% |
| 5-year return | +146.7% | +182.0% |
| Volatility (ann.) | 74.1% | 38.6% |
| Beta vs S&P 500 | 1.93 | 0.80 |
| Max drawdown (3Y) | -51.3% | -52.3% |
| Market cap | $3.3B | – |
| P/E (trailing) | 53.8 | – |
| Dividend yield | 0.00% | 0.00% |
| Expense ratio | – | 0.50% |
| Assets under management | – | $28.1B |
| Sector / category | US Listed | ETF · Commodities |
SLV, iShares's Commodities Focused fund, carries $28.1B under management, a 0.50% expense ratio, a 0.00% trailing dividend yield.
Year-by-year returns
| Year | EXK | SLV |
|---|---|---|
| 2022 | -23.2% | +2.4% |
| 2023 | -39.2% | -1.1% |
| 2024 | +85.8% | +20.9% |
| 2025 | +156.8% | +144.7% |
| 2026 | +20.2% | -2.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EXK and SLV good diversifiers for each other?
To a limited degree. At 0.72 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 EXK and SLV?
The EXK/SLV correlation stands at 0.72 on a 3-year window (1 year: 0.77, 5 years: 0.73), computed from weekly returns as of 2026-08-27.
Is SLV a good diversifier for EXK?
To a limited degree. At 0.72 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 0.72 mean?
On the −1 to +1 scale, 0.72 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/exk-vs-slv.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/exk-vs-slv/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: EXK correlations · SLV correlations
