PAAS vs WRN: Correlation
Pan American Silver Corp. (PAAS) and Western Copper and Gold Corporation (WRN) show a strong relationship: their 3-year correlation of weekly returns is 0.64.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PAAS and WRN?
Over the past 3 years, PAAS and WRN moved with a correlation of 0.64, which is strong. Lately the two have moved closer together, with the 1-year correlation at 0.82 versus 0.64 over 3 years. Over 5 years the correlation is 0.62, and the annualized covariance of weekly returns is 1868.5 %².
Among the 42 assets we track against PAAS, WRN ranks #34 by 3-year correlation. On 12-month performance WRN holds a 14.5-point edge, +67.9% against +82.4%.
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 WRN: side by side
| PAAS (Pan American Silver Corp.) | WRN (Western Copper and Gold Corporation) | |
|---|---|---|
| 1-year return | +67.9% | +82.4% |
| 5-year return | +135.6% | +50.6% |
| Volatility (ann.) | 54.5% | 53.2% |
| Beta vs S&P 500 | 1.11 | 0.99 |
| Max drawdown (3Y) | -38.8% | -50.1% |
| Market cap | $22.8B | $0.6B |
| P/E (trailing) | 16.2 | 259.0 |
| Dividend yield | 1.18% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | PAAS | WRN |
|---|---|---|
| 2022 | -33.0% | +14.1% |
| 2023 | +2.5% | -25.3% |
| 2024 | +26.6% | -21.1% |
| 2025 | +158.4% | +154.3% |
| 2026 | +6.9% | -3.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PAAS and WRN good diversifiers for each other?
Only partially. A correlation of 0.64 means PAAS and WRN 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 WRN?
As of 2026-08-27, the correlation of weekly returns between PAAS and WRN is 0.64 over 3 years, 0.82 over 1 year and 0.62 over 5 years.
Is WRN a good diversifier for PAAS?
Only partially. A correlation of 0.64 means PAAS and WRN share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.64 mean?
A reading of 0.64 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/paas-vs-wrn.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/paas-vs-wrn/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: PAAS correlations · WRN correlations
