THM vs ZDGE: Correlation
How closely do International Tower Hill Mines, Ltd. (THM) and Zedge, Inc. (ZDGE) trade together? Their weekly returns over three years give a correlation of -0.19, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are THM and ZDGE?
Over the past 3 years, THM and ZDGE moved with a correlation of -0.19, which is negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (-0.02) runs above the 3-year figure (-0.19). Over 5 years the correlation is -0.08, and the annualized covariance of weekly returns is -1306.0 %².
Among the 11 assets we track against THM, ZDGE sits near the bottom by co-movement, at rank #10. Correlation aside, the last 12 months split them widely, with THM ahead by 103.7 points (+100.7% versus -3.0%).
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 ZDGE: side by side
| THM (International Tower Hill Mines, Ltd.) | ZDGE (Zedge, Inc.) | |
|---|---|---|
| 1-year return | +100.7% | -3.0% |
| 5-year return | +222.1% | -81.5% |
| Volatility (ann.) | 89.9% | 76.8% |
| Beta vs S&P 500 | 1.27 | 0.91 |
| Max drawdown (3Y) | -51.5% | -61.2% |
| Market cap | – | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 1.77% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | THM | ZDGE |
|---|---|---|
| 2022 | -41.1% | -79.3% |
| 2023 | +37.2% | +33.5% |
| 2024 | -22.0% | +14.5% |
| 2025 | +304.3% | +22.5% |
| 2026 | +48.9% | -9.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are THM and ZDGE good diversifiers for each other?
Yes. With a correlation of -0.19, THM and ZDGE have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between THM and ZDGE?
The THM/ZDGE correlation stands at -0.19 on a 3-year window (1 year: -0.02, 5 years: -0.08), computed from weekly returns as of 2026-08-27.
Is ZDGE a good diversifier for THM?
Yes. With a correlation of -0.19, THM and ZDGE have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.19 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-zdge.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/thm-vs-zdge/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: THM correlations · ZDGE correlations
