PAAS vs VZLA: Correlation
How closely do Pan American Silver Corp. (PAAS) and Vizsla Silver Corp. (VZLA) trade together? Their weekly returns over three years give a correlation of 0.75, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PAAS and VZLA?
Over the past 3 years, PAAS and VZLA moved with a correlation of 0.75, which is strong. Recent behaviour matches the longer record: 0.78 over 1 year against 0.75 over 3. Over 5 years the correlation is 0.68, and the annualized covariance of weekly returns is 2470.4 %².
Among the 42 assets we track against PAAS, VZLA ranks #17 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months PAAS outperformed by 49.7 percentage points (+67.9% for PAAS against +18.2% for VZLA).
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 VZLA: side by side
| PAAS (Pan American Silver Corp.) | VZLA (Vizsla Silver Corp.) | |
|---|---|---|
| 1-year return | +67.9% | +18.2% |
| 5-year return | +135.6% | +82.3% |
| Volatility (ann.) | 54.5% | 60.6% |
| Beta vs S&P 500 | 1.11 | 1.23 |
| Max drawdown (3Y) | -38.8% | -56.9% |
| Market cap | $22.8B | $1.5B |
| P/E (trailing) | 16.2 | – |
| Dividend yield | 1.18% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | PAAS | VZLA |
|---|---|---|
| 2022 | -33.0% | – |
| 2023 | +2.5% | +8.7% |
| 2024 | +26.6% | +36.8% |
| 2025 | +158.4% | +219.9% |
| 2026 | +6.9% | -23.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PAAS and VZLA good diversifiers for each other?
To a limited degree. At 0.75 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 PAAS and VZLA?
As of 2026-08-27, the correlation of weekly returns between PAAS and VZLA is 0.75 over 3 years, 0.78 over 1 year and 0.68 over 5 years.
Is VZLA a good diversifier for PAAS?
To a limited degree. At 0.75 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 0.75 mean?
On the −1 to +1 scale, 0.75 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.
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Related comparisons
Hubs: PAAS correlations · VZLA correlations
