PLG vs SLV: Correlation
How closely do Platinum Group Metals Ltd. (PLG) and iShares Silver Trust (SLV) trade together? Their weekly returns over three years give a correlation of 0.72, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PLG and SLV?
Over the past 3 years, PLG and SLV moved with a correlation of 0.72, which is strong. Recent behaviour matches the longer record: 0.80 over 1 year against 0.72 over 3. Over 5 years the correlation is 0.67, and the annualized covariance of weekly returns is 2084.9 %².
SLV is one of the assets that tracks PLG most closely: it ranks #3 out of the 14 assets we track against PLG. Their recent paths diverged sharply: over the last 12 months SLV outperformed by 74.7 percentage points (+4.7% for PLG against +79.4% for SLV). Risk is not evenly split, since PLG carries 1.9 times the volatility of the other side.
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.
PLG vs SLV: side by side
| PLG (Platinum Group Metals Ltd.) | SLV (iShares Silver Trust) | |
|---|---|---|
| 1-year return | +4.7% | +79.4% |
| 5-year return | -41.5% | +182.0% |
| Volatility (ann.) | 74.7% | 38.6% |
| Beta vs S&P 500 | 1.36 | 0.80 |
| Max drawdown (3Y) | -64.4% | -52.3% |
| Market cap | – | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Expense ratio | – | 0.50% |
| Assets under management | – | $28.1B |
| Sector / category | US Listed | ETF · Commodities |
SLV, iShares's Commodities Focused fund, carries $28.1B under management, a 0.50% expense ratio, a 0.00% trailing dividend yield.
Year-by-year returns
| Year | PLG | SLV |
|---|---|---|
| 2022 | +10.1% | +2.4% |
| 2023 | -34.5% | -1.1% |
| 2024 | +12.3% | +20.9% |
| 2025 | +84.4% | +144.7% |
| 2026 | -34.3% | -2.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PLG and SLV good diversifiers for each other?
To a limited degree. At 0.72 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 PLG and SLV?
Using weekly returns as of 2026-08-27: 0.72 over 3 years, with 0.80 over the last year and 0.67 over 5 years.
Is SLV a good diversifier for PLG?
To a limited degree. At 0.72 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 0.72 mean?
On the −1 to +1 scale, 0.72 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/plg-vs-slv.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/plg-vs-slv/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: PLG correlations · SLV correlations
