MTA vs WPM: Correlation
Measured on weekly returns over the past three years, Metalla Royalty & Streaming Ltd. (MTA) and Wheaton Precious Metals Corp (WPM) carry a correlation of 0.66, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MTA and WPM?
Across a 3-year window, the weekly returns of MTA and WPM correlate at 0.66, strong. The relationship has been stable: the 1-year correlation (0.75) sits close to the 3-year figure. Stretching to 5 years gives 0.67, with an annualized covariance of 1402.5 %².
Within MTA's tracked universe of 11 assets, WPM comes in at #5 by 3-year correlation. Correlation aside, the last 12 months split them widely, with MTA ahead by 55.4 points (+119.7% versus +64.3%).
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.
MTA vs WPM: side by side
| MTA (Metalla Royalty & Streaming Ltd.) | WPM (Wheaton Precious Metals Corp) | |
|---|---|---|
| 1-year return | +119.7% | +64.3% |
| 5-year return | +45.5% | +275.2% |
| Volatility (ann.) | 51.6% | 41.1% |
| Beta vs S&P 500 | 1.16 | 0.82 |
| Max drawdown (3Y) | -44.4% | -37.4% |
| Market cap | $1.0B | $71.8B |
| P/E (trailing) | – | 34.6 |
| Dividend yield | 0.00% | 0.46% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MTA | WPM |
|---|---|---|
| 2022 | -29.1% | -7.5% |
| 2023 | -37.0% | +27.9% |
| 2024 | -18.5% | +15.2% |
| 2025 | +210.0% | +109.8% |
| 2026 | +41.8% | +35.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MTA and WPM good diversifiers for each other?
Only partially. A correlation of 0.66 means MTA and WPM share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between MTA and WPM?
The MTA/WPM correlation stands at 0.66 on a 3-year window (1 year: 0.75, 5 years: 0.67), computed from weekly returns as of 2026-08-27.
Is WPM a good diversifier for MTA?
Only partially. A correlation of 0.66 means MTA and WPM share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.66 mean?
A reading of 0.66 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/mta-vs-wpm.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/mta-vs-wpm/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: MTA correlations · WPM correlations
