GGN vs WPM: Correlation
GAMCO Global Gold, Natural Resources & Income Trust (GGN) and Wheaton Precious Metals Corp (WPM) show a very strong relationship: their 3-year correlation of weekly returns is 0.82.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GGN and WPM?
On 3 years of weekly data the GGN/WPM correlation comes out at 0.82, very strong, meaning they move nearly in lockstep. Little has changed lately, as the 1-year reading of 0.89 lands near the 3-year figure. The 5-year figure is 0.76, and annualized covariance runs at 620.7 %².
In GGN's tracked universe of 17 assets, WPM sits right near the top at #2. Correlation aside, the last 12 months split them widely, with WPM ahead by 35.7 points (+28.6% versus +64.3%). Risk is not evenly split, since WPM carries 2.2 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.
GGN vs WPM: side by side
| GGN (GAMCO Global Gold, Natural Resources & Income Trust) | WPM (Wheaton Precious Metals Corp) | |
|---|---|---|
| 1-year return | +28.6% | +64.3% |
| 5-year return | +128.2% | +275.2% |
| Volatility (ann.) | 18.5% | 41.1% |
| Beta vs S&P 500 | 0.36 | 0.82 |
| Max drawdown (3Y) | -16.9% | -37.4% |
| Market cap | – | $71.8B |
| P/E (trailing) | 2.8 | 34.6 |
| Dividend yield | 6.36% | 0.46% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | GGN | WPM |
|---|---|---|
| 2022 | +6.8% | -7.5% |
| 2023 | +14.1% | +27.9% |
| 2024 | +9.6% | +15.2% |
| 2025 | +48.2% | +109.8% |
| 2026 | +15.4% | +35.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GGN and WPM good diversifiers for each other?
No: a correlation of 0.82 means GGN and WPM tend to fall together, which is precisely when diversification is supposed to help.
FAQ
What is the correlation between GGN and WPM?
As of 2026-08-27, the correlation of weekly returns between GGN and WPM is 0.82 over 3 years, 0.89 over 1 year and 0.76 over 5 years.
Is WPM a good diversifier for GGN?
No: a correlation of 0.82 means GGN and WPM tend to fall together, which is precisely when diversification is supposed to help.
What does a correlation of 0.82 mean?
On the −1 to +1 scale, 0.82 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/ggn-vs-wpm.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/ggn-vs-wpm/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: GGN correlations · WPM correlations
