THM vs WPM: Correlation
International Tower Hill Mines, Ltd. (THM) and Wheaton Precious Metals Corp (WPM) show a strong relationship: their 3-year correlation of weekly returns is 0.63.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are THM and WPM?
Across a 3-year window, the weekly returns of THM and WPM correlate at 0.63, strong. Recent behaviour matches the longer record: 0.73 over 1 year against 0.63 over 3. Stretching to 5 years gives 0.60, with an annualized covariance of 2330.2 %².
Within THM's tracked universe of 11 assets, WPM comes in at #5 by 3-year correlation. The last year tells two different stories: THM led by 36.4 percentage points, +100.7% for THM against +64.3% for WPM. One caveat on sizing: THM is 2.2 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.
THM vs WPM: side by side
| THM (International Tower Hill Mines, Ltd.) | WPM (Wheaton Precious Metals Corp) | |
|---|---|---|
| 1-year return | +100.7% | +64.3% |
| 5-year return | +222.1% | +275.2% |
| Volatility (ann.) | 89.9% | 41.1% |
| Beta vs S&P 500 | 1.27 | 0.82 |
| Max drawdown (3Y) | -51.5% | -37.4% |
| Market cap | – | $71.8B |
| P/E (trailing) | – | 34.6 |
| Dividend yield | 0.00% | 0.46% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | THM | WPM |
|---|---|---|
| 2022 | -41.1% | -7.5% |
| 2023 | +37.2% | +27.9% |
| 2024 | -22.0% | +15.2% |
| 2025 | +304.3% | +109.8% |
| 2026 | +48.9% | +35.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are THM and WPM good diversifiers for each other?
To a limited degree. At 0.63 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 THM and WPM?
The THM/WPM correlation stands at 0.63 on a 3-year window (1 year: 0.73, 5 years: 0.60), computed from weekly returns as of 2026-08-27.
Is WPM a good diversifier for THM?
To a limited degree. At 0.63 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 0.63 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/thm-vs-wpm.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/thm-vs-wpm/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: THM correlations · WPM correlations
