LGO vs SA: Correlation
How closely do Largo Inc. (LGO) and Seabridge Gold, Inc. (SA) trade together? Their weekly returns over three years give a correlation of 0.43, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are LGO and SA?
Across a 3-year window, the weekly returns of LGO and SA correlate at 0.43, moderate. Recent behaviour matches the longer record: 0.46 over 1 year against 0.43 over 3. Stretching to 5 years gives 0.38, with an annualized covariance of 1784.7 %².
By 3-year correlation, SA places #5 of the 14 assets tracked against LGO. The last year tells two different stories: SA led by 156.3 percentage points, -51.2% for LGO against +105.1% for SA.
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.
LGO vs SA: side by side
| LGO (Largo Inc.) | SA (Seabridge Gold, Inc.) | |
|---|---|---|
| 1-year return | -51.2% | +105.1% |
| 5-year return | -94.6% | +93.2% |
| Volatility (ann.) | 72.9% | 56.7% |
| Beta vs S&P 500 | 0.94 | 1.46 |
| Max drawdown (3Y) | -83.8% | -52.5% |
| Market cap | $0.1B | $3.7B |
| P/E (trailing) | – | 179.3 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | LGO | SA |
|---|---|---|
| 2022 | -41.9% | -23.7% |
| 2023 | -57.1% | -3.6% |
| 2024 | -25.5% | -5.9% |
| 2025 | -45.3% | +159.3% |
| 2026 | -22.2% | +15.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are LGO and SA good diversifiers for each other?
Reasonably. At 0.43, LGO and SA keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between LGO and SA?
The LGO/SA correlation stands at 0.43 on a 3-year window (1 year: 0.46, 5 years: 0.38), computed from weekly returns as of 2026-08-27.
Is SA a good diversifier for LGO?
Reasonably. At 0.43, LGO and SA keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.43 mean?
On the −1 to +1 scale, 0.43 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.
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Related comparisons
Hubs: LGO correlations · SA correlations
