OGC vs SKE: Correlation
How closely do OceanaGold Corporation (OGC) and Skeena Resources Limited (SKE) trade together? Their weekly returns over three years give a correlation of 0.69, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are OGC and SKE?
On 3 years of weekly data the OGC/SKE correlation comes out at 0.69, strong. The past 12 months show a tighter link (0.88) than the 3-year average (0.69). The 5-year figure is 0.64, and annualized covariance runs at 2156.0 %².
Within OGC's tracked universe of 12 assets, SKE comes in at #6 by 3-year correlation. Correlation aside, the last 12 months split them widely, with SKE ahead by 40.2 points (+82.6% versus +122.8%).
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.
OGC vs SKE: side by side
| OGC (OceanaGold Corporation) | SKE (Skeena Resources Limited) | |
|---|---|---|
| 1-year return | +82.6% | +122.8% |
| 5-year return | +489.5% | +205.9% |
| Volatility (ann.) | 50.1% | 62.6% |
| Beta vs S&P 500 | 0.86 | 1.42 |
| Max drawdown (3Y) | -47.7% | -36.1% |
| Market cap | $7.0B | $4.4B |
| P/E (trailing) | 8.1 | – |
| Dividend yield | 0.78% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | OGC | SKE |
|---|---|---|
| 2022 | +9.8% | -49.0% |
| 2023 | +2.1% | -8.3% |
| 2024 | +45.1% | +78.7% |
| 2025 | +243.9% | +172.1% |
| 2026 | +12.1% | +48.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are OGC and SKE good diversifiers for each other?
Only partially. A correlation of 0.69 means OGC and SKE 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 OGC and SKE?
Using weekly returns as of 2026-08-27: 0.69 over 3 years, with 0.88 over the last year and 0.64 over 5 years.
Is SKE a good diversifier for OGC?
Only partially. A correlation of 0.69 means OGC and SKE share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.69 mean?
On the −1 to +1 scale, 0.69 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/ogc-vs-ske.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/ogc-vs-ske/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: OGC correlations · SKE correlations
