MWG vs SKE: Correlation
Multi Ways Holdings Limited Class A (MWG) and Skeena Resources Limited (SKE) show a weak relationship: their 3-year correlation of weekly returns is 0.27.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MWG and SKE?
On 3 years of weekly data the MWG/SKE correlation comes out at 0.27, weak. Recent behaviour matches the longer record: 0.21 over 1 year against 0.27 over 3. The 5-year figure is n/a, and annualized covariance runs at 1476.1 %².
By 3-year correlation, SKE places #5 of the 10 assets tracked against MWG. The last year tells two different stories: SKE led by 169.4 percentage points, -46.6% for MWG against +122.8% for SKE.
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.
MWG vs SKE: side by side
| MWG (Multi Ways Holdings Limited Class A) | SKE (Skeena Resources Limited) | |
|---|---|---|
| 1-year return | -46.6% | +122.8% |
| 5-year return | n/a | +205.9% |
| Volatility (ann.) | 87.1% | 62.6% |
| Beta vs S&P 500 | 0.47 | 1.42 |
| Max drawdown (3Y) | -81.5% | -36.1% |
| Market cap | – | $4.4B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MWG | SKE |
|---|---|---|
| 2022 | – | -49.0% |
| 2023 | – | -8.3% |
| 2024 | +26.2% | +78.7% |
| 2025 | -6.3% | +172.1% |
| 2026 | -52.3% | +48.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MWG and SKE good diversifiers for each other?
A fair diversifier. At 0.27, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between MWG and SKE?
The MWG/SKE correlation stands at 0.27 on a 3-year window (1 year: 0.21, 5 years: n/a), computed from weekly returns as of 2026-08-27.
Is SKE a good diversifier for MWG?
A fair diversifier. At 0.27, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.27 mean?
A reading of 0.27 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/mwg-vs-ske.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/mwg-vs-ske/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: MWG correlations · SKE correlations
