GROY vs WPM: Correlation
Measured on weekly returns over the past three years, Gold Royalty Corp. (GROY) and Wheaton Precious Metals Corp (WPM) carry a correlation of 0.68, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GROY and WPM?
On 3 years of weekly data the GROY/WPM correlation comes out at 0.68, strong. Little has changed lately, as the 1-year reading of 0.75 lands near the 3-year figure. The 5-year figure is 0.64, and annualized covariance runs at 1547.0 %².
By 3-year correlation, WPM places #5 of the 12 assets tracked against GROY. The last year tells two different stories: WPM led by 60.0 percentage points, +4.3% for GROY against +64.3% for WPM.
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.
GROY vs WPM: side by side
| GROY (Gold Royalty Corp.) | WPM (Wheaton Precious Metals Corp) | |
|---|---|---|
| 1-year return | +4.3% | +64.3% |
| 5-year return | -15.6% | +275.2% |
| Volatility (ann.) | 55.2% | 41.1% |
| Beta vs S&P 500 | 1.04 | 0.82 |
| Max drawdown (3Y) | -51.6% | -37.4% |
| Market cap | $0.8B | $71.8B |
| P/E (trailing) | – | 34.6 |
| Dividend yield | 0.00% | 0.46% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | GROY | WPM |
|---|---|---|
| 2022 | -52.0% | -7.5% |
| 2023 | -36.3% | +27.9% |
| 2024 | -17.7% | +15.2% |
| 2025 | +233.9% | +109.8% |
| 2026 | -15.1% | +35.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GROY and WPM good diversifiers for each other?
Somewhat, no more. With 0.68 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between GROY and WPM?
As of 2026-08-27, the correlation of weekly returns between GROY and WPM is 0.68 over 3 years, 0.75 over 1 year and 0.64 over 5 years.
Is WPM a good diversifier for GROY?
Somewhat, no more. With 0.68 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.68 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/groy-vs-wpm.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/groy-vs-wpm/)
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Related comparisons
Hubs: GROY correlations · WPM correlations
