GLDG vs PARR: Correlation
Measured on weekly returns over the past three years, GoldMining Inc. (GLDG) and Par Pacific Holdings, Inc. (PARR) carry a correlation of -0.25, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GLDG and PARR?
Across a 3-year window, the weekly returns of GLDG and PARR correlate at -0.25, negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.48) than the 3-year average (-0.25). Stretching to 5 years gives -0.07, with an annualized covariance of -660.4 %².
Out of 14 assets tracked against GLDG, PARR lands near the bottom at #12. Their recent paths diverged sharply: over the last 12 months PARR outperformed by 102.9 percentage points (+22.6% for GLDG against +125.5% for PARR).
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.
GLDG vs PARR: side by side
| GLDG (GoldMining Inc.) | PARR (Par Pacific Holdings, Inc.) | |
|---|---|---|
| 1-year return | +22.6% | +125.5% |
| 5-year return | -8.1% | +375.6% |
| Volatility (ann.) | 52.0% | 51.3% |
| Beta vs S&P 500 | 0.47 | 0.13 |
| Max drawdown (3Y) | -61.7% | -69.7% |
| Market cap | $0.2B | $3.9B |
| P/E (trailing) | – | 4.4 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | GLDG | PARR |
|---|---|---|
| 2022 | -5.8% | +41.0% |
| 2023 | -14.2% | +56.4% |
| 2024 | -16.5% | -54.9% |
| 2025 | +54.3% | +114.4% |
| 2026 | -8.8% | +119.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GLDG and PARR good diversifiers for each other?
By historical standards, yes. A correlation of -0.25 means the two rarely move for the same reasons.
FAQ
What is the correlation between GLDG and PARR?
As of 2026-08-27, the correlation of weekly returns between GLDG and PARR is -0.25 over 3 years, -0.48 over 1 year and -0.07 over 5 years.
Is PARR a good diversifier for GLDG?
By historical standards, yes. A correlation of -0.25 means the two rarely move for the same reasons.
What does a correlation of -0.25 mean?
A reading of -0.25 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/gldg-vs-parr.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/gldg-vs-parr/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: GLDG correlations · PARR correlations
