IDR vs PAAS: Correlation
How closely do Idaho Strategic Resources, Inc. (IDR) and Pan American Silver Corp. (PAAS) trade together? Their weekly returns over three years give a correlation of 0.57, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IDR and PAAS?
On 3 years of weekly data the IDR/PAAS correlation comes out at 0.57, moderate. The link has tightened recently: the 1-year correlation (0.74) runs above the 3-year figure (0.57). The 5-year figure is 0.44, and annualized covariance runs at 2269.7 %².
By 3-year correlation, PAAS places #4 of the 18 assets tracked against IDR. Correlation aside, the last 12 months split them widely, with PAAS ahead by 41.6 points (+26.3% versus +67.9%).
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.
IDR vs PAAS: side by side
| IDR (Idaho Strategic Resources, Inc.) | PAAS (Pan American Silver Corp.) | |
|---|---|---|
| 1-year return | +26.3% | +67.9% |
| 5-year return | +702.8% | +135.6% |
| Volatility (ann.) | 73.6% | 54.5% |
| Beta vs S&P 500 | 0.68 | 1.11 |
| Max drawdown (3Y) | -50.0% | -38.8% |
| Market cap | $0.5B | $22.8B |
| P/E (trailing) | 22.6 | 16.2 |
| Dividend yield | 0.00% | 1.18% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | IDR | PAAS |
|---|---|---|
| 2022 | -23.4% | -33.0% |
| 2023 | +11.1% | +2.5% |
| 2024 | +61.0% | +26.6% |
| 2025 | +295.5% | +158.4% |
| 2026 | -16.1% | +6.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IDR and PAAS good diversifiers for each other?
Somewhat, no more. With 0.57 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between IDR and PAAS?
Using weekly returns as of 2026-08-27: 0.57 over 3 years, with 0.74 over the last year and 0.44 over 5 years.
Is PAAS a good diversifier for IDR?
Somewhat, no more. With 0.57 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.57 mean?
A reading of 0.57 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/idr-vs-paas.json
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Related comparisons
Hubs: IDR correlations · PAAS correlations
