HYMC vs PAAS: Correlation
How closely do Hycroft Mining Holding Corporation (HYMC) and Pan American Silver Corp. (PAAS) trade together? Their weekly returns over three years give a correlation of 0.69, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HYMC and PAAS?
Across a 3-year window, the weekly returns of HYMC and PAAS correlate at 0.69, strong. The relationship has been stable: the 1-year correlation (0.71) sits close to the 3-year figure. Stretching to 5 years gives 0.25, with an annualized covariance of 3631.4 %².
In HYMC's tracked universe of 12 assets, PAAS sits right near the top at #3. The last year tells two different stories: HYMC led by 454.6 percentage points, +522.5% for HYMC against +67.9% for PAAS. Note the risk asymmetry: HYMC runs 1.8 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
HYMC vs PAAS: side by side
| HYMC (Hycroft Mining Holding Corporation) | PAAS (Pan American Silver Corp.) | |
|---|---|---|
| 1-year return | +522.5% | +67.9% |
| 5-year return | +28.5% | +135.6% |
| Volatility (ann.) | 96.6% | 54.5% |
| Beta vs S&P 500 | 0.99 | 1.11 |
| Max drawdown (3Y) | -66.9% | -38.8% |
| Market cap | $2.4B | $22.8B |
| P/E (trailing) | – | 16.2 |
| Dividend yield | 0.00% | 1.18% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | HYMC | PAAS |
|---|---|---|
| 2022 | -13.4% | -33.0% |
| 2023 | -53.9% | +2.5% |
| 2024 | -9.8% | +26.6% |
| 2025 | +975.6% | +158.4% |
| 2026 | +9.2% | +6.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HYMC and PAAS good diversifiers for each other?
Only partially. A correlation of 0.69 means HYMC and PAAS share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between HYMC and PAAS?
The HYMC/PAAS correlation stands at 0.69 on a 3-year window (1 year: 0.71, 5 years: 0.25), computed from weekly returns as of 2026-08-27.
Is PAAS a good diversifier for HYMC?
Only partially. A correlation of 0.69 means HYMC and PAAS share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.69 mean?
A reading of 0.69 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/hymc-vs-paas.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/hymc-vs-paas/)
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Related comparisons
Hubs: HYMC correlations · PAAS correlations
