MAKO vs WPM: Correlation
Mako Mining Corp (MAKO) and Wheaton Precious Metals Corp (WPM) show a strong relationship: their 3-year correlation of weekly returns is 0.62.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MAKO and WPM?
Across a 3-year window, the weekly returns of MAKO and WPM correlate at 0.62, strong. The past 12 months show a tighter link (0.80) than the 3-year average (0.62). Stretching to 5 years gives 0.54, with an annualized covariance of 1458.1 %².
By 3-year correlation, WPM places #4 of the 10 assets tracked against MAKO. The last year tells two different stories: MAKO led by 83.3 percentage points, +147.6% for MAKO 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.
MAKO vs WPM: side by side
| MAKO (Mako Mining Corp) | WPM (Wheaton Precious Metals Corp) | |
|---|---|---|
| 1-year return | +147.6% | +64.3% |
| 5-year return | +320.0% | +275.2% |
| Volatility (ann.) | 57.6% | 41.1% |
| Beta vs S&P 500 | 1.23 | 0.82 |
| Max drawdown (3Y) | -31.9% | -37.4% |
| Market cap | $1.0B | $71.8B |
| P/E (trailing) | 18.5 | 34.6 |
| Dividend yield | 0.00% | 0.46% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MAKO | WPM |
|---|---|---|
| 2022 | -67.7% | -7.5% |
| 2023 | +105.0% | +27.9% |
| 2024 | +7.8% | +15.2% |
| 2025 | +162.4% | +109.8% |
| 2026 | +88.3% | +35.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MAKO and WPM good diversifiers for each other?
To a limited degree. At 0.62 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 MAKO and WPM?
As of 2026-08-27, the correlation of weekly returns between MAKO and WPM is 0.62 over 3 years, 0.80 over 1 year and 0.54 over 5 years.
Is WPM a good diversifier for MAKO?
To a limited degree. At 0.62 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 0.62 mean?
A reading of 0.62 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/mako-vs-wpm.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/mako-vs-wpm/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: MAKO correlations · WPM correlations
