Paramount Gold Nevada Corp. (PZG) — Stock Correlations & Overview
Over the past year, PZG has moved most closely with USAS, SILJ, ASA. Explore the stocks most correlated and inversely correlated with PZG below, along with its price, financials, and company profile.
Stocks correlated with PZG
Correlation of daily returns. Higher positive values move with PZG; negative values move opposite it. Informational only, not investment advice.
Most correlated with PZG
| Symbol | Company | Correlation |
|---|---|---|
| USAS | Americas Gold and Silver Corporation | 0.63 |
| SILJ | Amplify Junior Silver Miners ETF | 0.61 |
| ASA | ASA GOLD AND PRECIOUS METALS LIMITED | 0.60 |
| SLVR | Sprott Silver Miners & Physical Silver ETFBLANK CHECKS | 0.60 |
| SLJY | Amplify SILJ Junior Silver Miners Covered Call ETF | 0.60 |
Most inversely correlated with PZG
| Symbol | Company | Correlation |
|---|---|---|
| JDST | Direxion Daily Junior Gold Miners Index Bear 2X ETF | -0.61 |
| GDXD | MicroSectors Gold Miners -3x Inverse Leveraged ETNCOMMERCIAL BANKS, NEC | -0.60 |
| DUST | Direxion Daily Gold Miners Index Bear 2X ETF | -0.59 |
| DULL | MicroSectors Gold -3x Inverse Leveraged ETNCOMMERCIAL BANKS, NEC | -0.55 |
| GLL | ProShares UltraShort GoldCOMMODITY CONTRACTS BROKERS & DEALERS | -0.54 |
Frequently asked questions about PZG correlations
- Which stocks are most correlated with PZG?
- Based on one year of daily returns, the stocks most correlated with Paramount Gold Nevada Corp. (PZG) are USAS (0.63), SILJ (0.61) and ASA (0.60). A correlation near 1.00 means the two stocks' daily moves have tracked each other closely over the period.
- Which stocks are inversely correlated with PZG?
- Over the past year, the stocks most inversely correlated with Paramount Gold Nevada Corp. (PZG) are JDST (-0.61), GDXD (-0.60) and DUST (-0.59). A negative correlation means the two stocks have tended to move in opposite directions.
- What does a correlation of 0.8 mean for a stock?
- Correlation measures how closely two stocks' daily returns move together, on a scale from -1 to 1. At 0.8, the two stocks have moved in the same direction on most days — though not by identical amounts. A value near 0 means their moves have been unrelated, and a negative value means they have tended to move in opposite directions. Correlation reflects past behavior and can change over time.
- How are these PZG correlations calculated?
- We compute the correlation of daily returns between PZG and roughly 9,000 other US-listed stocks and ETFs over the trailing one-year window, then rank the strongest positive and negative relationships. The data is refreshed monthly. It is informational and educational only — not investment advice.
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