OGC vs WPM: Correlation
How closely do OceanaGold Corporation (OGC) and Wheaton Precious Metals Corp (WPM) trade together? Their weekly returns over three years give a correlation of 0.77, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are OGC and WPM?
Over the past 3 years, OGC and WPM moved with a correlation of 0.77, which is strong. Little has changed lately, as the 1-year reading of 0.87 lands near the 3-year figure. Over 5 years the correlation is 0.76, and the annualized covariance of weekly returns is 1579.6 %².
Within OGC's tracked universe of 12 assets, WPM comes in at #5 by 3-year correlation. The last year tells two different stories: OGC led by 18.3 percentage points, +82.6% for OGC against +64.3% for WPM.
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 WPM: side by side
| OGC (OceanaGold Corporation) | WPM (Wheaton Precious Metals Corp) | |
|---|---|---|
| 1-year return | +82.6% | +64.3% |
| 5-year return | +489.5% | +275.2% |
| Volatility (ann.) | 50.1% | 41.1% |
| Beta vs S&P 500 | 0.86 | 0.82 |
| Max drawdown (3Y) | -47.7% | -37.4% |
| Market cap | $7.0B | $71.8B |
| P/E (trailing) | 8.1 | 34.6 |
| Dividend yield | 0.78% | 0.46% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | OGC | WPM |
|---|---|---|
| 2022 | +9.8% | -7.5% |
| 2023 | +2.1% | +27.9% |
| 2024 | +45.1% | +15.2% |
| 2025 | +243.9% | +109.8% |
| 2026 | +12.1% | +35.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are OGC and WPM good diversifiers for each other?
Somewhat, no more. With 0.77 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between OGC and WPM?
Using weekly returns as of 2026-08-27: 0.77 over 3 years, with 0.87 over the last year and 0.76 over 5 years.
Is WPM a good diversifier for OGC?
Somewhat, no more. With 0.77 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.77 mean?
On the −1 to +1 scale, 0.77 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-wpm.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/ogc-vs-wpm/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: OGC correlations · WPM correlations
