PAAS.TO vs. ^TNX
PAAS.TO (Pan American Silver Corp.) is a stock, while ^TNX (Cboe 10-Year Treasury Note Yield Index) is an index. Over the past 10 years, PAAS.TO returned 11.02%/yr vs 12.12%/yr for ^TNX. At a correlation of -0.14, they often move in opposite directions.
Performance
PAAS.TO vs. ^TNX - Performance Comparison
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Different Trading Currencies
PAAS.TO is traded in CAD, while ^TNX is traded in USD. To make them comparable, the ^TNX values have been converted to CAD using the latest available exchange rates.
Returns By Period
In the year-to-date period, PAAS.TO achieves a -16.08% return, which is significantly lower than ^TNX's 13.07% return. Over the past 10 years, PAAS.TO has underperformed ^TNX with an annualized return of 11.02%, while ^TNX has yielded a comparatively higher 12.12% annualized return.
PAAS.TO
- 1D
- 1.42%
- 1M
- -13.98%
- 6M
- -23.97%
- YTD
- -16.08%
- 1Y
- 56.09%
- 3Y*
- 42.64%
- 5Y*
- 14.06%
- 10Y*
- 11.02%
- ALL TIME*
- 6.10%
^TNX
- 1D
- 1.13%
- 1M
- 2.71%
- 6M
- 9.70%
- YTD
- 13.07%
- 1Y
- 5.88%
- 3Y*
- 8.44%
- 5Y*
- 31.77%
- 10Y*
- 12.12%
- ALL TIME*
- 0.48%
PAAS.TO vs. ^TNX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PAAS.TO Pan American Silver Corp. | -16.08% | 148.70% | 37.51% | 0.37% | -28.30% | -27.43% | 43.89% | 55.86% | 2.74% | -2.74% |
^TNX Cboe 10-Year Treasury Note Yield Index | 13.07% | -13.12% | 28.30% | -2.71% | 172.80% | 64.80% | -53.35% | -31.50% | 21.07% | -8.33% |
Correlation
The correlation between PAAS.TO and ^TNX is -0.16, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.16 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.13 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.19 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.21 |
Correlation (All Time) Calculated using the full available price history since Aug 17, 2006 | -0.14 |
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Return for Risk
PAAS.TO vs. ^TNX — Risk / Return Rank
PAAS.TO
^TNX
PAAS.TO vs. ^TNX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Pan American Silver Corp. (PAAS.TO) and Cboe 10-Year Treasury Note Yield Index (^TNX). 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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| PAAS.TO | ^TNX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.64 | ||
| Sortino ratioReturn per unit of downside risk | +0.93 | ||
| Omega ratioGain probability vs. loss probability | 1.21 | 1.07 | +0.13 |
| Calmar ratioReturn relative to maximum drawdown | 1.52 | 0.56 | +0.96 |
| Martin ratioReturn relative to average drawdown | 3.62 | 1.23 | +2.38 |
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Drawdowns
PAAS.TO vs. ^TNX - Drawdown Comparison
The maximum PAAS.TO drawdown since its inception was -79.35%, smaller than the maximum ^TNX drawdown of -89.94%. Use the drawdown chart below to compare losses from any high point for PAAS.TO and ^TNX.
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Drawdown Indicators
| PAAS.TO | ^TNX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -79.35% | -89.94% | +10.59% |
Max Drawdown (1Y)Largest decline over 1 year | -37.08% | -10.53% | -26.55% |
Max Drawdown (3Y)Largest decline over 3 years | -37.08% | -28.13% | -8.95% |
Max Drawdown (5Y)Largest decline over 5 years | -54.02% | -28.13% | -25.89% |
Max Drawdown (10Y)Largest decline over 10 years | -66.05% | -83.97% | +17.92% |
Current DrawdownCurrent decline from peak | -36.19% | -6.90% | -29.29% |
Average DrawdownAverage peak-to-trough decline | -40.60% | -44.63% | +4.03% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 15.56% | 5.15% | +10.41% |
Volatility
PAAS.TO vs. ^TNX - Volatility Comparison
Pan American Silver Corp. (PAAS.TO) has a higher volatility of 12.61% compared to Cboe 10-Year Treasury Note Yield Index (^TNX) at 4.38%. This indicates that PAAS.TO's price experiences larger fluctuations and is considered to be riskier than ^TNX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PAAS.TO | ^TNX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 12.61% | 4.38% | +8.23% |
Volatility (6M)Calculated over the trailing 6-month period | 44.14% | 11.80% | +32.34% |
Volatility (1Y)Calculated over the trailing 1-year period | 55.04% | 15.46% | +39.58% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 46.18% | 32.06% | +14.12% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 47.48% | 48.34% | -0.86% |
Frequently Asked Questions
PAAS.TO and ^TNX have a correlation of -0.16, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
Find the right allocation for PAAS.TO and ^TNX
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