NEWP vs SVM: Correlation
How closely do New Pacific Metals Corp. (NEWP) and Silvercorp Metals Inc. (SVM) trade together? Their weekly returns over three years give a correlation of 0.72, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NEWP and SVM?
Over the past 3 years, NEWP and SVM moved with a correlation of 0.72, which is strong. The relationship has been stable: the 1-year correlation (0.78) sits close to the 3-year figure. Over 5 years the correlation is 0.67, and the annualized covariance of weekly returns is 3273.1 %².
In NEWP's tracked universe of 12 assets, SVM sits right near the top at #3. The last year tells two different stories: NEWP led by 130.7 percentage points, +318.6% for NEWP against +187.9% for SVM.
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.
NEWP vs SVM: side by side
| NEWP (New Pacific Metals Corp.) | SVM (Silvercorp Metals Inc.) | |
|---|---|---|
| 1-year return | +318.6% | +187.9% |
| 5-year return | +96.6% | +222.0% |
| Volatility (ann.) | 76.6% | 59.2% |
| Beta vs S&P 500 | 1.96 | 1.33 |
| Max drawdown (3Y) | -64.6% | -43.8% |
| Market cap | $1.4B | $3.0B |
| P/E (trailing) | – | 122.4 |
| Dividend yield | 0.00% | 0.19% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | NEWP | SVM |
|---|---|---|
| 2022 | -23.5% | -20.6% |
| 2023 | -15.1% | -10.3% |
| 2024 | -38.2% | +14.9% |
| 2025 | +197.5% | +178.8% |
| 2026 | +111.1% | +61.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NEWP and SVM good diversifiers for each other?
Somewhat, no more. With 0.72 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between NEWP and SVM?
The NEWP/SVM correlation stands at 0.72 on a 3-year window (1 year: 0.78, 5 years: 0.67), computed from weekly returns as of 2026-08-27.
Is SVM a good diversifier for NEWP?
Somewhat, no more. With 0.72 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.72 mean?
On the −1 to +1 scale, 0.72 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/newp-vs-svm.json
Markdown for the live badge, attribution link included:
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Related comparisons
Hubs: NEWP correlations · SVM correlations
