ITRG vs PAAS: Correlation
Measured on weekly returns over the past three years, Integra Resources Corp. (ITRG) and Pan American Silver Corp. (PAAS) carry a correlation of 0.70, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ITRG and PAAS?
Across a 3-year window, the weekly returns of ITRG and PAAS correlate at 0.70, strong. The past 12 months show a tighter link (0.84) than the 3-year average (0.70). Stretching to 5 years gives 0.38, with an annualized covariance of 2399.4 %².
Few assets follow ITRG as closely as PAAS, which ranks #3 of 13 tracked partners. Correlation aside, the last 12 months split them widely, with PAAS ahead by 28.6 points (+39.3% 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.
ITRG vs PAAS: side by side
| ITRG (Integra Resources Corp.) | PAAS (Pan American Silver Corp.) | |
|---|---|---|
| 1-year return | +39.3% | +67.9% |
| 5-year return | +6.9% | +135.6% |
| Volatility (ann.) | 63.1% | 54.5% |
| Beta vs S&P 500 | 1.11 | 1.11 |
| Max drawdown (3Y) | -55.8% | -38.8% |
| Market cap | $0.6B | $22.8B |
| P/E (trailing) | 73.5 | 16.2 |
| Dividend yield | 0.00% | 1.18% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ITRG | PAAS |
|---|---|---|
| 2022 | -70.6% | -33.0% |
| 2023 | +67.5% | +2.5% |
| 2024 | -17.9% | +26.6% |
| 2025 | +360.9% | +158.4% |
| 2026 | -26.7% | +6.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ITRG and PAAS good diversifiers for each other?
To a limited degree. At 0.70 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 ITRG and PAAS?
As of 2026-08-27, the correlation of weekly returns between ITRG and PAAS is 0.70 over 3 years, 0.84 over 1 year and 0.38 over 5 years.
Is PAAS a good diversifier for ITRG?
To a limited degree. At 0.70 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 0.70 mean?
A reading of 0.70 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: ITRG correlations · PAAS correlations
