NG vs SVM: Correlation
Novagold Resources Inc. (NG) and Silvercorp Metals Inc. (SVM) show a moderate relationship: their 3-year correlation of weekly returns is 0.57.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NG and SVM?
Over the past 3 years, NG and SVM moved with a correlation of 0.57, which is moderate. The past 12 months show a tighter link (0.79) than the 3-year average (0.57). Over 5 years the correlation is 0.61, and the annualized covariance of weekly returns is 2450.3 %².
Among the 14 assets we track against NG, SVM ranks #5 by 3-year correlation. Correlation aside, the last 12 months split them widely, with SVM ahead by 149.5 points (+38.4% versus +187.9%).
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.
NG vs SVM: side by side
| NG (Novagold Resources Inc.) | SVM (Silvercorp Metals Inc.) | |
|---|---|---|
| 1-year return | +38.4% | +187.9% |
| 5-year return | +28.8% | +222.0% |
| Volatility (ann.) | 72.0% | 59.2% |
| Beta vs S&P 500 | 1.55 | 1.33 |
| Max drawdown (3Y) | -63.5% | -43.8% |
| Market cap | $4.0B | $3.0B |
| P/E (trailing) | – | 122.4 |
| Dividend yield | 0.00% | 0.19% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | NG | SVM |
|---|---|---|
| 2022 | -12.8% | -20.6% |
| 2023 | -37.5% | -10.3% |
| 2024 | -11.0% | +14.9% |
| 2025 | +179.9% | +178.8% |
| 2026 | -2.1% | +61.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NG and SVM good diversifiers for each other?
Only partially. A correlation of 0.57 means NG and SVM 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 NG and SVM?
The NG/SVM correlation stands at 0.57 on a 3-year window (1 year: 0.79, 5 years: 0.61), computed from weekly returns as of 2026-08-27.
Is SVM a good diversifier for NG?
Only partially. A correlation of 0.57 means NG and SVM share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.57 mean?
On the −1 to +1 scale, 0.57 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/ng-vs-svm.json
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Related comparisons
Hubs: NG correlations · SVM correlations
