IE vs PLG: Correlation
How closely do Ivanhoe Electric Inc. (IE) and Platinum Group Metals Ltd. (PLG) trade together? Their weekly returns over three years give a correlation of 0.61, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IE and PLG?
Over the past 3 years, IE and PLG moved with a correlation of 0.61, which is strong. The past 12 months show a tighter link (0.78) than the 3-year average (0.61). Over 5 years the correlation is 0.52, and the annualized covariance of weekly returns is 3146.8 %².
PLG is one of the assets that tracks IE most closely: it ranks #2 out of the 14 assets we track against IE. The last year tells two different stories: IE led by 26.4 percentage points, +31.1% for IE against +4.7% for PLG.
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.
IE vs PLG: side by side
| IE (Ivanhoe Electric Inc.) | PLG (Platinum Group Metals Ltd.) | |
|---|---|---|
| 1-year return | +31.1% | +4.7% |
| 5-year return | +8.2% | -41.5% |
| Volatility (ann.) | 69.5% | 74.7% |
| Beta vs S&P 500 | 2.00 | 1.36 |
| Max drawdown (3Y) | -70.7% | -64.4% |
| Market cap | $1.9B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | IE | PLG |
|---|---|---|
| 2022 | – | +10.1% |
| 2023 | -17.0% | -34.5% |
| 2024 | -25.1% | +12.3% |
| 2025 | +111.7% | +84.4% |
| 2026 | -26.8% | -34.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IE and PLG good diversifiers for each other?
To a limited degree. At 0.61 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between IE and PLG?
As of 2026-08-27, the correlation of weekly returns between IE and PLG is 0.61 over 3 years, 0.78 over 1 year and 0.52 over 5 years.
Is PLG a good diversifier for IE?
To a limited degree. At 0.61 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.61 mean?
On the −1 to +1 scale, 0.61 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/ie-vs-plg.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/ie-vs-plg/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: IE correlations · PLG correlations
