PAAS vs. ARIS

Last updated Jun 13, 2026

PAAS (Pan American Silver Corp.) and ARIS (Aris Water Solutions, Inc.) are both stocks. PAAS operates in Silver (Basic Materials), while ARIS operates in Utilities - Regulated Water (Utilities). Over the past 3 years, PAAS returned 50.01%/yr vs 88.30%/yr for ARIS. A 0.66 correlation means they provide meaningful diversification when combined.

Performance

PAAS vs. ARIS - Performance Comparison

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

Returns By Period

In the year-to-date period, PAAS achieves a -6.53% return, which is significantly lower than ARIS's -2.09% return.

PAAS

• 1D: 3.46%
• 1M: -24.13%
• YTD: -6.53%
• 6M: -2.63%
• 1Y: 68.49%
• 3Y*: 50.01%
• 5Y*: 11.06%
• 10Y*: 14.08%

ARIS

• 1D: 5.23%
• 1M: -19.38%
• YTD: -2.09%
• 6M: 1.15%
• 1Y: 135.76%
• 3Y*: 88.30%
• 5Y*: —
• 10Y*: —

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

PAAS vs. ARIS - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
PAAS Pan American Silver Corp.	-6.53%	160.40%	26.61%	2.50%	-33.00%	-2.71%
ARIS Aris Water Solutions, Inc.	-2.09%	363.71%	6.54%	31.93%	-39.60%	1.33%

Correlation

The correlation between PAAS and ARIS is 0.65, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.65
Correlation (3Y) Calculated over the trailing 3-year period	0.65
Correlation (All Time) Calculated using the full available price history since Oct 22, 2021	0.66

The correlation between PAAS and ARIS has been stable across timeframes, ranging from 0.65 to 0.66 - a consistent structural relationship.

Fundamentals

Market Cap PAAS : $20.31B ARIS : $3.32B
EPS PAAS : $3.21 ARIS : $0.87
PE Ratio PAAS : 14.98 ARIS : 18.19
PEG Ratio PAAS : 0.08 ARIS : 0.36
PS Ratio PAAS : 4.75 ARIS : 2.76
PB Ratio PAAS : 2.76 ARIS : 2.11
Total Revenue (TTM) PAAS : $4.02B ARIS : $1.14B
Gross Profit (TTM) PAAS : $1.76B ARIS : $612.94M
EBITDA (TTM) PAAS : $2.14B ARIS : $432.53M

Return for Risk

PAAS vs. ARIS — Risk / Return Rank

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

PAAS

PAAS Risk / Return Rank: 76
PAAS Sharpe Ratio Rank: 79
PAAS Sortino Ratio Rank: 73
PAAS Omega Ratio Rank: 74
PAAS Calmar Ratio Rank: 76
PAAS Martin Ratio Rank: 78

ARIS

ARIS Risk / Return Rank: 92
ARIS Sharpe Ratio Rank: 95
ARIS Sortino Ratio Rank: 88
ARIS Omega Ratio Rank: 89
ARIS Calmar Ratio Rank: 92
ARIS Martin Ratio Rank: 95

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.

PAAS vs. ARIS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Pan American Silver Corp. (PAAS) and Aris Water Solutions, Inc. (ARIS). 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	ARIS	Difference
Sharpe ratio: Return per unit of total volatility	1.25	2.87	-1.62
Sortino ratio: Return per unit of downside risk	1.77	2.81	-1.04
Omega ratio: Gain probability vs. loss probability	1.23	1.40	-0.16
Calmar ratio: Return relative to maximum drawdown	1.95	4.87	-2.92
Martin ratio: Return relative to average drawdown	5.44	16.85	-11.41

PAAS vs. ARIS - Sharpe Ratio Comparison

The current PAAS Sharpe Ratio is 1.25, which is lower than the ARIS Sharpe Ratio of 2.87. The chart below compares the historical Sharpe Ratios of PAAS and ARIS, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

PAAS vs. ARIS - Drawdown Comparison

The maximum PAAS drawdown since its inception was -85.10%, which is greater than ARIS's maximum drawdown of -57.98%. Use the drawdown chart below to compare losses from any high point for PAAS and ARIS.

Drawdown Indicators

	PAAS	ARIS	Difference
Max Drawdown Largest peak-to-trough decline	-85.10%	-57.98%	-27.12%
Max Drawdown (1Y) Largest decline over 1 year	-35.33%	-34.32%	-1.01%
Max Drawdown (3Y) Largest decline over 3 years	-35.33%	-34.46%	-0.87%
Max Drawdown (5Y) Largest decline over 5 years	-58.89%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-66.74%	—	—
Current Drawdown Current decline from peak	-29.51%	-26.61%	-2.90%
Average Drawdown Average peak-to-trough decline	-41.64%	-22.67%	-18.97%
Ulcer Index Depth and duration of drawdowns from previous peaks	12.63%	9.35%	+3.28%

Volatility

PAAS vs. ARIS - Volatility Comparison

The current volatility for Pan American Silver Corp. (PAAS) is 18.82%, while Aris Water Solutions, Inc. (ARIS) has a volatility of 21.05%. This indicates that PAAS experiences smaller price fluctuations and is considered to be less risky than ARIS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PAAS	ARIS	Difference
Volatility (1M) Calculated over the trailing 1-month period	18.82%	21.05%	-2.23%
Volatility (6M) Calculated over the trailing 6-month period	44.62%	46.30%	-1.68%
Volatility (1Y) Calculated over the trailing 1-year period	55.23%	58.35%	-3.12%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	47.97%	53.11%	-5.14%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	49.62%	53.11%	-3.49%

Dividends

PAAS vs. ARIS - Dividend Comparison

PAAS's dividend yield for the trailing twelve months is around 1.29%, while ARIS has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ARIS Aris Water Solutions, Inc.	0.00%	0.00%	0.00%	0.00%	3.84%	0.85%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
PAAS Pan American Silver Corp.	1.29%	0.89%	1.98%	2.45%	2.75%	1.36%	0.64%	0.59%	0.96%	0.64%	0.33%	4.23%

Financials

PAAS vs. ARIS - Profitability Comparison

The chart below illustrates the profitability comparison between Pan American Silver Corp. and Aris Water Solutions, Inc. over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

PAAS - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Pan American Silver Corp. reported a gross profit of 608.00M and revenue of 1.15B. Therefore, the gross margin over that period was 52.7%.

ARIS - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Aris Water Solutions, Inc. reported a gross profit of 217.03M and revenue of 372.48M. Therefore, the gross margin over that period was 58.3%.

PAAS - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Pan American Silver Corp. reported an operating income of 560.00M and revenue of 1.15B, resulting in an operating margin of 48.5%.

ARIS - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Aris Water Solutions, Inc. reported an operating income of 179.05M and revenue of 372.48M, resulting in an operating margin of 48.1%.

PAAS - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Pan American Silver Corp. reported a net income of 457.00M and revenue of 1.15B, resulting in a net margin of 39.6%.

ARIS - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Aris Water Solutions, Inc. reported a net income of 97.61M and revenue of 372.48M, resulting in a net margin of 26.2%.

Frequently Asked Questions

Can I hold both PAAS and ARIS in my portfolio?

PAAS and ARIS have a correlation of 0.65, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PAAS or ARIS?

ARIS has higher volatility (21.05%) compared to PAAS (18.82%). In terms of maximum drawdown, PAAS dropped -85.10% vs ARIS's -57.98%.

Which has better risk-adjusted returns?

ARIS currently has the higher Sharpe Ratio (2.87 vs 1.25), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.