A Correlation Analysis of Precious Metal Miners
In this part of our series, we’ll be looking at the correlation between gold and four mining stocks: Alamos Gold (AGI), Sibanye Gold (SBGL), Yamana Gold (AUY), and Pan American Silver (PAAS). Mining stocks mostly move with gold prices but not always. Among these four miners, Pan American Silver has shown the highest correlation to gold, while Alamos Gold has seen the lowest correlation on a YTD (year-to-date) basis.