OR vs VGZ: Correlation
OR Royalties Inc. (OR) and Vista Gold Corp (VGZ) 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 OR and VGZ?
Over the past 3 years, OR and VGZ moved with a correlation of 0.62, which is strong. The link has tightened recently: the 1-year correlation (0.76) runs above the 3-year figure (0.62). Over 5 years the correlation is 0.59, and the annualized covariance of weekly returns is 1802.1 %².
Within OR's tracked universe of 13 assets, VGZ comes in at #6 by 3-year correlation. The last year tells two different stories: VGZ led by 79.6 percentage points, +24.7% for OR against +104.3% for VGZ. One caveat on sizing: VGZ is 2.0 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.
OR vs VGZ: side by side
| OR (OR Royalties Inc.) | VGZ (Vista Gold Corp) | |
|---|---|---|
| 1-year return | +24.7% | +104.3% |
| 5-year return | +236.7% | +197.5% |
| Volatility (ann.) | 37.9% | 77.0% |
| Beta vs S&P 500 | 0.77 | 1.31 |
| Max drawdown (3Y) | -41.0% | -49.5% |
| Market cap | $7.2B | – |
| P/E (trailing) | 28.6 | – |
| Dividend yield | 0.60% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | OR | VGZ |
|---|---|---|
| 2022 | +0.0% | -29.6% |
| 2023 | +19.8% | -10.0% |
| 2024 | +28.1% | +24.4% |
| 2025 | +96.4% | +251.8% |
| 2026 | +9.6% | +19.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are OR and VGZ 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 OR and VGZ?
As of 2026-08-27, the correlation of weekly returns between OR and VGZ is 0.62 over 3 years, 0.76 over 1 year and 0.59 over 5 years.
Is VGZ a good diversifier for OR?
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?
A reading of 0.62 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/or-vs-vgz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/or-vs-vgz/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: OR correlations · VGZ correlations
