PAAS vs SSRM: Correlation
Pan American Silver Corp. (PAAS) and SSR Mining Inc. (SSRM) show a strong relationship: their 3-year correlation of weekly returns is 0.68.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PAAS and SSRM?
Over the past 3 years, PAAS and SSRM moved with a correlation of 0.68, which is strong. The past 12 months show a tighter link (0.85) than the 3-year average (0.68). Over 5 years the correlation is 0.70, and the annualized covariance of weekly returns is 2407.8 %².
By 3-year correlation, SSRM places #29 of the 42 assets tracked against PAAS. The last year tells two different stories: SSRM led by 43.9 percentage points, +67.9% for PAAS against +111.8% for SSRM.
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.
PAAS vs SSRM: side by side
| PAAS (Pan American Silver Corp.) | SSRM (SSR Mining Inc.) | |
|---|---|---|
| 1-year return | +67.9% | +111.8% |
| 5-year return | +135.6% | +149.2% |
| Volatility (ann.) | 54.5% | 64.6% |
| Beta vs S&P 500 | 1.11 | 0.98 |
| Max drawdown (3Y) | -38.8% | -73.4% |
| Market cap | $22.8B | $8.0B |
| P/E (trailing) | 16.2 | 14.7 |
| Dividend yield | 1.18% | 0.08% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | PAAS | SSRM |
|---|---|---|
| 2022 | -33.0% | -10.0% |
| 2023 | +2.5% | -29.9% |
| 2024 | +26.6% | -35.3% |
| 2025 | +158.4% | +214.9% |
| 2026 | +6.9% | +78.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PAAS and SSRM good diversifiers for each other?
Only partially. A correlation of 0.68 means PAAS and SSRM 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 PAAS and SSRM?
The PAAS/SSRM correlation stands at 0.68 on a 3-year window (1 year: 0.85, 5 years: 0.70), computed from weekly returns as of 2026-08-27.
Is SSRM a good diversifier for PAAS?
Only partially. A correlation of 0.68 means PAAS and SSRM share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.68 mean?
On the −1 to +1 scale, 0.68 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/paas-vs-ssrm.json
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Related comparisons
Hubs: PAAS correlations · SSRM correlations
