PPTA vs USAS: Correlation
Perpetua Resources Corp. (PPTA) and Americas Gold and Silver Corporation (USAS) show a strong relationship: their 3-year correlation of weekly returns is 0.61.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PPTA and USAS?
Across a 3-year window, the weekly returns of PPTA and USAS correlate at 0.61, strong. The past 12 months show a tighter link (0.80) than the 3-year average (0.61). Stretching to 5 years gives 0.50, with an annualized covariance of 3903.0 %².
USAS is one of the assets that tracks PPTA most closely: it ranks #1 out of the 11 assets we track against PPTA. Their recent paths diverged sharply: over the last 12 months USAS outperformed by 98.5 percentage points (+40.7% for PPTA against +139.2% for USAS).
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.
PPTA vs USAS: side by side
| PPTA (Perpetua Resources Corp.) | USAS (Americas Gold and Silver Corporation) | |
|---|---|---|
| 1-year return | +40.7% | +139.2% |
| 5-year return | +427.8% | +122.9% |
| Volatility (ann.) | 77.8% | 82.6% |
| Beta vs S&P 500 | 0.85 | 1.41 |
| Max drawdown (3Y) | -54.6% | -63.5% |
| Market cap | $3.3B | $1.9B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | PPTA | USAS |
|---|---|---|
| 2022 | -38.5% | -29.6% |
| 2023 | +8.6% | -56.1% |
| 2024 | +236.6% | +52.0% |
| 2025 | +126.9% | +437.9% |
| 2026 | +8.1% | +12.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PPTA and USAS good diversifiers for each other?
Somewhat, no more. With 0.61 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between PPTA and USAS?
The PPTA/USAS correlation stands at 0.61 on a 3-year window (1 year: 0.80, 5 years: 0.50), computed from weekly returns as of 2026-08-27.
Is USAS a good diversifier for PPTA?
Somewhat, no more. With 0.61 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.61 mean?
On the −1 to +1 scale, 0.61 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/ppta-vs-usas.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ppta-vs-usas/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: PPTA correlations · USAS correlations
