SII vs SLV: Correlation
Measured on weekly returns over the past three years, Sprott Inc. (SII) and iShares Silver Trust (SLV) carry a correlation of 0.69, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SII and SLV?
On 3 years of weekly data the SII/SLV correlation comes out at 0.69, strong. The relationship has been stable: the 1-year correlation (0.76) sits close to the 3-year figure. The 5-year figure is 0.62, and annualized covariance runs at 986.6 %².
SLV is one of the assets that tracks SII most closely: it ranks #3 out of the 14 assets we track against SII. The last year tells two different stories: SII led by 32.9 percentage points, +112.3% for SII against +79.4% for SLV.
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.
SII vs SLV: side by side
| SII (Sprott Inc.) | SLV (iShares Silver Trust) | |
|---|---|---|
| 1-year return | +112.3% | +79.4% |
| 5-year return | +354.0% | +182.0% |
| Volatility (ann.) | 37.3% | 38.6% |
| Beta vs S&P 500 | 0.92 | 0.80 |
| Max drawdown (3Y) | -38.0% | -52.3% |
| Market cap | $3.5B | – |
| P/E (trailing) | 33.6 | – |
| Dividend yield | 1.17% | 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 | SII | SLV |
|---|---|---|
| 2022 | -24.1% | +2.4% |
| 2023 | +5.0% | -1.1% |
| 2024 | +27.4% | +20.9% |
| 2025 | +135.0% | +144.7% |
| 2026 | +40.5% | -2.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SII and SLV good diversifiers for each other?
Only partially. A correlation of 0.69 means SII and SLV 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 SII and SLV?
As of 2026-08-27, the correlation of weekly returns between SII and SLV is 0.69 over 3 years, 0.76 over 1 year and 0.62 over 5 years.
Is SLV a good diversifier for SII?
Only partially. A correlation of 0.69 means SII and SLV share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.69 mean?
A reading of 0.69 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: SII correlations · SLV correlations
