KGC vs WPM: Correlation
Kinross Gold Corporation (KGC) and Wheaton Precious Metals Corp (WPM) show a very strong relationship: their 3-year correlation of weekly returns is 0.88.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are KGC and WPM?
On 3 years of weekly data the KGC/WPM correlation comes out at 0.88, very strong, meaning they move nearly in lockstep. The relationship has been stable: the 1-year correlation (0.95) sits close to the 3-year figure. The 5-year figure is 0.86, and annualized covariance runs at 1701.3 %².
WPM is one of the assets that tracks KGC most closely: it ranks #3 out of the 21 assets we track against KGC. Their 12-month results are close: +61.5% for KGC against +64.3% for WPM.
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.
KGC vs WPM: side by side
| KGC (Kinross Gold Corporation) | WPM (Wheaton Precious Metals Corp) | |
|---|---|---|
| 1-year return | +61.5% | +64.3% |
| 5-year return | +495.9% | +275.2% |
| Volatility (ann.) | 47.3% | 41.1% |
| Beta vs S&P 500 | 0.97 | 0.82 |
| Max drawdown (3Y) | -40.7% | -37.4% |
| Market cap | $38.6B | $71.8B |
| P/E (trailing) | 12.3 | 34.6 |
| Dividend yield | 0.48% | 0.46% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | KGC | WPM |
|---|---|---|
| 2022 | -27.6% | -7.5% |
| 2023 | +51.8% | +27.9% |
| 2024 | +55.6% | +15.2% |
| 2025 | +205.7% | +109.8% |
| 2026 | +15.9% | +35.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are KGC and WPM good diversifiers for each other?
No: a correlation of 0.88 means KGC and WPM tend to fall together, which is precisely when diversification is supposed to help.
FAQ
What is the correlation between KGC and WPM?
The KGC/WPM correlation stands at 0.88 on a 3-year window (1 year: 0.95, 5 years: 0.86), computed from weekly returns as of 2026-08-27.
Is WPM a good diversifier for KGC?
No: a correlation of 0.88 means KGC and WPM tend to fall together, which is precisely when diversification is supposed to help.
What does a correlation of 0.88 mean?
On the −1 to +1 scale, 0.88 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/kgc-vs-wpm.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/kgc-vs-wpm/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: KGC correlations · WPM correlations
