TECK vs TGB: Correlation
Teck Resources Ltd (TECK) and Trekor Metals Limited (TGB) show a strong relationship: their 3-year correlation of weekly returns is 0.64.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are TECK and TGB?
Over the past 3 years, TECK and TGB moved with a correlation of 0.64, which is strong. Recent behaviour matches the longer record: 0.62 over 1 year against 0.64 over 3. Over 5 years the correlation is 0.61, and the annualized covariance of weekly returns is 1611.1 %².
Among the 13 assets we track against TECK, TGB ranks #5 by 3-year correlation. The last year tells two different stories: TGB led by 89.0 percentage points, +115.4% for TECK against +204.4% for TGB. One caveat on sizing: TGB 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.
TECK vs TGB: side by side
| TECK (Teck Resources Ltd) | TGB (Trekor Metals Limited) | |
|---|---|---|
| 1-year return | +115.4% | +204.4% |
| 5-year return | +233.4% | +450.0% |
| Volatility (ann.) | 40.4% | 62.1% |
| Beta vs S&P 500 | 1.47 | 1.89 |
| Max drawdown (3Y) | -46.1% | -44.3% |
| Market cap | $34.6B | $3.5B |
| P/E (trailing) | 19.3 | 484.0 |
| Dividend yield | 0.70% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | TECK | TGB |
|---|---|---|
| 2022 | +33.8% | -28.3% |
| 2023 | +14.0% | -4.8% |
| 2024 | -2.6% | +38.6% |
| 2025 | +19.0% | +191.8% |
| 2026 | +47.8% | +71.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are TECK and TGB good diversifiers for each other?
Only partially. A correlation of 0.64 means TECK and TGB 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 TECK and TGB?
The TECK/TGB correlation stands at 0.64 on a 3-year window (1 year: 0.62, 5 years: 0.61), computed from weekly returns as of 2026-08-27.
Is TGB a good diversifier for TECK?
Only partially. A correlation of 0.64 means TECK and TGB share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.64 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.
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Hubs: TECK correlations · TGB correlations
