SKE vs WPM: Correlation
Measured on weekly returns over the past three years, Skeena Resources Limited (SKE) and Wheaton Precious Metals Corp (WPM) carry a correlation of 0.70, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SKE and WPM?
Across a 3-year window, the weekly returns of SKE and WPM correlate at 0.70, strong. Lately the two have moved closer together, with the 1-year correlation at 0.86 versus 0.70 over 3 years. Stretching to 5 years gives 0.70, with an annualized covariance of 1798.0 %².
Few assets follow SKE as closely as WPM, which ranks #3 of 15 tracked partners. The last year tells two different stories: SKE led by 58.5 percentage points, +122.8% for SKE against +64.3% for WPM. One caveat on sizing: SKE is 1.5 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.
SKE vs WPM: side by side
| SKE (Skeena Resources Limited) | WPM (Wheaton Precious Metals Corp) | |
|---|---|---|
| 1-year return | +122.8% | +64.3% |
| 5-year return | +205.9% | +275.2% |
| Volatility (ann.) | 62.6% | 41.1% |
| Beta vs S&P 500 | 1.42 | 0.82 |
| Max drawdown (3Y) | -36.1% | -37.4% |
| Market cap | $4.4B | $71.8B |
| P/E (trailing) | – | 34.6 |
| Dividend yield | 0.00% | 0.46% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | SKE | WPM |
|---|---|---|
| 2022 | -49.0% | -7.5% |
| 2023 | -8.3% | +27.9% |
| 2024 | +78.7% | +15.2% |
| 2025 | +172.1% | +109.8% |
| 2026 | +48.0% | +35.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SKE and WPM good diversifiers for each other?
Only partially. A correlation of 0.70 means SKE and WPM 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 SKE and WPM?
As of 2026-08-27, the correlation of weekly returns between SKE and WPM is 0.70 over 3 years, 0.86 over 1 year and 0.70 over 5 years.
Is WPM a good diversifier for SKE?
Only partially. A correlation of 0.70 means SKE and WPM share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.70 mean?
A reading of 0.70 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/ske-vs-wpm.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/ske-vs-wpm/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: SKE correlations · WPM correlations
