FNV vs KGC: Correlation
Measured on weekly returns over the past three years, Franco-Nevada Corporation (FNV) and Kinross Gold Corporation (KGC) carry a correlation of 0.80, a very strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FNV and KGC?
Across a 3-year window, the weekly returns of FNV and KGC correlate at 0.80, very strong, meaning they move nearly in lockstep. The relationship has been stable: the 1-year correlation (0.89) sits close to the 3-year figure. Stretching to 5 years gives 0.81, with an annualized covariance of 1218.0 %².
Within FNV's tracked universe of 10 assets, KGC comes in at #4 by 3-year correlation. Over the last 12 months KGC came out ahead by 14.9 percentage points (+46.6% 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.
FNV vs KGC: side by side
| FNV (Franco-Nevada Corporation) | KGC (Kinross Gold Corporation) | |
|---|---|---|
| 1-year return | +46.6% | +61.5% |
| 5-year return | +97.2% | +495.9% |
| Volatility (ann.) | 32.2% | 47.3% |
| Beta vs S&P 500 | 0.36 | 0.97 |
| Max drawdown (3Y) | -29.2% | -40.7% |
| Market cap | $52.3B | $38.6B |
| P/E (trailing) | 35.0 | 12.3 |
| Dividend yield | 0.61% | 0.48% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FNV | KGC |
|---|---|---|
| 2022 | -0.4% | -27.6% |
| 2023 | -18.0% | +51.8% |
| 2024 | +7.4% | +55.6% |
| 2025 | +77.1% | +205.7% |
| 2026 | +31.4% | +15.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNV and KGC good diversifiers for each other?
Not really. At 0.80, the two trade almost as one position, and owning both buys little extra protection.
FAQ
What is the correlation between FNV and KGC?
Using weekly returns as of 2026-08-27: 0.80 over 3 years, with 0.89 over the last year and 0.81 over 5 years.
Is KGC a good diversifier for FNV?
Not really. At 0.80, the two trade almost as one position, and owning both buys little extra protection.
What does a correlation of 0.80 mean?
A reading of 0.80 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/fnv-vs-kgc.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/fnv-vs-kgc/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: FNV correlations · KGC correlations
