HYMC vs SLV: Correlation
Hycroft Mining Holding Corporation (HYMC) and iShares Silver Trust (SLV) show a strong relationship: their 3-year correlation of weekly returns is 0.74.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HYMC and SLV?
Over the past 3 years, HYMC and SLV moved with a correlation of 0.74, which is strong. The link has tightened recently: the 1-year correlation (0.86) runs above the 3-year figure (0.74). Over 5 years the correlation is 0.25, and the annualized covariance of weekly returns is 2770.3 %².
SLV is one of the assets that tracks HYMC most closely: it ranks #1 out of the 12 assets we track against HYMC. Correlation aside, the last 12 months split them widely, with HYMC ahead by 443.1 points (+522.5% versus +79.4%). Note the risk asymmetry: HYMC runs 2.5 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 SLV: side by side
| HYMC (Hycroft Mining Holding Corporation) | SLV (iShares Silver Trust) | |
|---|---|---|
| 1-year return | +522.5% | +79.4% |
| 5-year return | +28.5% | +182.0% |
| Volatility (ann.) | 96.6% | 38.6% |
| Beta vs S&P 500 | 0.99 | 0.80 |
| Max drawdown (3Y) | -66.9% | -52.3% |
| Market cap | $2.4B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Expense ratio | – | 0.50% |
| Assets under management | – | $28.1B |
| Sector / category | US Listed | ETF · Commodities |
SLV, iShares's Commodities Focused fund, carries $28.1B under management, a 0.50% expense ratio, a 0.00% trailing dividend yield.
Year-by-year returns
| Year | HYMC | SLV |
|---|---|---|
| 2022 | -13.4% | +2.4% |
| 2023 | -53.9% | -1.1% |
| 2024 | -9.8% | +20.9% |
| 2025 | +975.6% | +144.7% |
| 2026 | +9.2% | -2.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HYMC and SLV good diversifiers for each other?
Somewhat, no more. With 0.74 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between HYMC and SLV?
The HYMC/SLV correlation stands at 0.74 on a 3-year window (1 year: 0.86, 5 years: 0.25), computed from weekly returns as of 2026-08-27.
Is SLV a good diversifier for HYMC?
Somewhat, no more. With 0.74 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.74 mean?
A reading of 0.74 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-slv.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/hymc-vs-slv/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: HYMC correlations · SLV correlations
