OGG vs WPM: Correlation
Osisko Gold Group Inc. (OGG) and Wheaton Precious Metals Corp (WPM) show a strong relationship: their 3-year correlation of weekly returns is 0.62.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are OGG and WPM?
Over the past 3 years, OGG and WPM moved with a correlation of 0.62, which is strong. Lately the two have moved closer together, with the 1-year correlation at 0.80 versus 0.62 over 3 years. Over 5 years the correlation is 0.58, and the annualized covariance of weekly returns is 1610.3 %².
Among the 11 assets we track against OGG, WPM ranks #4 by 3-year correlation. Correlation aside, the last 12 months split them widely, with WPM ahead by 51.1 points (+13.2% versus +64.3%). One caveat on sizing: OGG is 1.5 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
OGG vs WPM: side by side
| OGG (Osisko Gold Group Inc.) | WPM (Wheaton Precious Metals Corp) | |
|---|---|---|
| 1-year return | +13.2% | +64.3% |
| 5-year return | -73.6% | +275.2% |
| Volatility (ann.) | 63.4% | 41.1% |
| Beta vs S&P 500 | 1.12 | 0.82 |
| Max drawdown (3Y) | -65.8% | -37.4% |
| Market cap | $1.0B | $71.8B |
| P/E (trailing) | – | 34.6 |
| Dividend yield | 0.00% | 0.46% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | OGG | WPM |
|---|---|---|
| 2022 | -55.5% | -7.5% |
| 2023 | -32.3% | +27.9% |
| 2024 | -44.0% | +15.2% |
| 2025 | +114.1% | +109.8% |
| 2026 | -9.2% | +35.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are OGG and WPM good diversifiers for each other?
To a limited degree. At 0.62 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between OGG and WPM?
As of 2026-08-27, the correlation of weekly returns between OGG and WPM is 0.62 over 3 years, 0.80 over 1 year and 0.58 over 5 years.
Is WPM a good diversifier for OGG?
To a limited degree. At 0.62 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.62 mean?
On the −1 to +1 scale, 0.62 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/ogg-vs-wpm.json
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Related comparisons
Hubs: OGG correlations · WPM correlations
