MAG vs. PAAS

Last updated Jun 3, 2026

MAG (MAG Silver Corp.) and PAAS (Pan American Silver Corp.) are both stocks. Both operate in the Silver industry within the Basic Materials sector. At a 0.32 correlation, their price movements are largely independent.

Performance

MAG vs. PAAS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in MAG Silver Corp. (MAG) and Pan American Silver Corp. (PAAS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

MAG

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

PAAS

• 1D: -0.54%
• 1M: 6.89%
• YTD: 7.17%
• 6M: 23.80%
• 1Y: 113.88%
• 3Y*: 55.62%
• 5Y*: 13.85%
• 10Y*: 15.15%

*Multi-year figures are annualized to reflect compound growth (CAGR)

MAG vs. PAAS - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
MAG MAG Silver Corp.	0.00%	85.31%	30.64%	-33.40%	-0.26%	-23.64%	73.31%	62.19%	-40.94%	12.06%
PAAS Pan American Silver Corp.	7.17%	160.40%	26.61%	2.50%	-33.00%	-26.78%	46.88%	63.86%	-5.30%	3.86%

Correlation

The correlation between MAG and PAAS is 0.37, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.37
Correlation (3Y) Calculated over the trailing 3-year period	0.71
Correlation (5Y) Calculated over the trailing 5-year period	0.75
Correlation (10Y) Calculated over the trailing 10-year period	0.75
Correlation (All Time) Calculated using the full available price history since Jun 13, 1995	0.32

The correlation between MAG and PAAS shifts across timeframes, from 0.32 (all time) to 0.75 (10 years), reflecting how their relationship changes across market environments.

Fundamentals

Market Cap MAG : $2.56B PAAS : $23.29B
EPS MAG : $0.99 PAAS : $3.21
PE Ratio MAG : 24.61 PAAS : 17.18
PEG Ratio MAG : 0.18 PAAS : 0.10
PB Ratio MAG : 4.13 PAAS : 3.17
Total Revenue (TTM) MAG : $0.00 PAAS : $4.02B
Gross Profit (TTM) MAG : -$729.02K PAAS : $1.76B
EBITDA (TTM) MAG : $68.69M PAAS : $2.14B

Return for Risk

MAG vs. PAAS — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

PAAS

PAAS Risk / Return Rank: 86
PAAS Sharpe Ratio Rank: 88
PAAS Sortino Ratio Rank: 82
PAAS Omega Ratio Rank: 82
PAAS Calmar Ratio Rank: 88
PAAS Martin Ratio Rank: 89

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

MAG vs. PAAS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for MAG Silver Corp. (MAG) and Pan American Silver Corp. (PAAS). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	MAG	PAAS	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	2.12	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.29	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.31	—
Sharpe Ratio (All Time) Calculated using the full available price history	—	0.17	—

Drawdowns

Drawdown Indicators

	MAG	PAAS	Difference
Max Drawdown Largest peak-to-trough decline	—	-85.10%	—
Max Drawdown (1Y) Largest decline over 1 year	—	-31.90%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-31.90%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-60.02%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-66.74%	—
Current Drawdown Current decline from peak	—	-19.18%	—
Average Drawdown Average peak-to-trough decline	—	-41.65%	—
Ulcer Index Depth and duration of drawdowns from previous peaks	—	11.46%	—

Volatility

Volatility by Period

	MAG	PAAS	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	18.87%	—
Volatility (6M) Calculated over the trailing 6-month period	—	43.66%	—
Volatility (1Y) Calculated over the trailing 1-year period	—	54.38%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	47.68%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	49.46%	—

Dividends

MAG vs. PAAS - Dividend Comparison

MAG's dividend yield for the trailing twelve months is around 0.59%, less than PAAS's 1.12% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MAG MAG Silver Corp.	0.59%	2.14%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
PAAS Pan American Silver Corp.	1.12%	0.89%	1.98%	2.45%	2.75%	1.36%	0.64%	0.59%	0.96%	0.64%	0.33%	4.23%

Financials

Frequently Asked Questions

Can I hold both MAG and PAAS in my portfolio?

MAG and PAAS have a correlation of 0.37, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.