SBSW vs WPM: Correlation
D/B/A Sibanye-Stillwater Limited (SBSW) and Wheaton Precious Metals Corp (WPM) show a strong relationship: their 3-year correlation of weekly returns is 0.70.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SBSW and WPM?
On 3 years of weekly data the SBSW/WPM correlation comes out at 0.70, strong. The past 12 months show a tighter link (0.81) than the 3-year average (0.70). The 5-year figure is 0.66, and annualized covariance runs at 1887.9 %².
By 3-year correlation, WPM places #5 of the 10 assets tracked against SBSW. Their 12-month results are close: +60.5% for SBSW against +64.3% for WPM. One caveat on sizing: SBSW is 1.6 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
SBSW vs WPM: side by side
| SBSW (D/B/A Sibanye-Stillwater Limited) | WPM (Wheaton Precious Metals Corp) | |
|---|---|---|
| 1-year return | +60.5% | +64.3% |
| 5-year return | -6.1% | +275.2% |
| Volatility (ann.) | 65.8% | 41.1% |
| Beta vs S&P 500 | 1.28 | 0.82 |
| Max drawdown (3Y) | -61.0% | -37.4% |
| Market cap | $8.9B | $71.8B |
| P/E (trailing) | – | 34.6 |
| Dividend yield | 10.84% | 0.46% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | SBSW | WPM |
|---|---|---|
| 2022 | -9.6% | -7.5% |
| 2023 | -46.6% | +27.9% |
| 2024 | -39.2% | +15.2% |
| 2025 | +331.8% | +109.8% |
| 2026 | -11.5% | +35.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SBSW and WPM good diversifiers for each other?
To a limited degree. At 0.70 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 SBSW and WPM?
As of 2026-08-27, the correlation of weekly returns between SBSW and WPM is 0.70 over 3 years, 0.81 over 1 year and 0.66 over 5 years.
Is WPM a good diversifier for SBSW?
To a limited degree. At 0.70 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 0.70 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/sbsw-vs-wpm.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/sbsw-vs-wpm/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: SBSW correlations · WPM correlations
