PAAS vs. MAG

Last updated Jun 4, 2026

PAAS (Pan American Silver Corp.) and MAG (MAG 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

PAAS vs. MAG - Performance Comparison

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

Returns By Period

PAAS

• 1D: -4.73%
• 1M: 3.23%
• YTD: 2.11%
• 6M: 19.04%
• 1Y: 102.99%
• 3Y*: 53.12%
• 5Y*: 12.48%
• 10Y*: 14.59%

MAG

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

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

PAAS vs. MAG - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PAAS Pan American Silver Corp.	2.11%	160.40%	26.61%	2.50%	-33.00%	-26.78%	46.88%	63.86%	-5.30%	3.86%
MAG MAG Silver Corp.	0.00%	85.31%	30.64%	-33.40%	-0.26%	-23.64%	73.31%	62.19%	-40.94%	12.06%

Correlation

The correlation between PAAS and MAG 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	0.70
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 PAAS and MAG shifts across timeframes, from 0.32 (all time) to 0.75 (10 years), reflecting how their relationship changes across market environments.

Fundamentals

Market Cap PAAS : $22.19B MAG : $2.56B
EPS PAAS : $3.21 MAG : $0.99
PE Ratio PAAS : 16.37 MAG : 24.61
PEG Ratio PAAS : 0.09 MAG : 0.18
PB Ratio PAAS : 3.02 MAG : 4.13
Total Revenue (TTM) PAAS : $4.02B MAG : $0.00
Gross Profit (TTM) PAAS : $1.76B MAG : -$729.02K
EBITDA (TTM) PAAS : $2.14B MAG : $68.69M

Return for Risk

PAAS vs. MAG — Risk / Return Rank

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

PAAS

PAAS Risk / Return Rank: 83
PAAS Sharpe Ratio Rank: 86
PAAS Sortino Ratio Rank: 80
PAAS Omega Ratio Rank: 80
PAAS Calmar Ratio Rank: 83
PAAS Martin Ratio Rank: 85

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. MAG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Pan American Silver Corp. (PAAS) and MAG Silver Corp. (MAG). 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.

	PAAS	MAG	Difference
Sharpe ratio: Return per unit of total volatility	1.91	—	—
Sortino ratio: Return per unit of downside risk	2.35	—	—
Omega ratio: Gain probability vs. loss probability	1.31	—	—
Calmar ratio: Return relative to maximum drawdown	3.25	—	—
Martin ratio: Return relative to average drawdown	8.94	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	PAAS	MAG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.91	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.26	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.30	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.17	—	—

Drawdowns

Drawdown Indicators

	PAAS	MAG	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	-23.00%	—	—
Average Drawdown Average peak-to-trough decline	-41.65%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	11.56%	—	—

Volatility

Volatility by Period

	PAAS	MAG	Difference
Volatility (1M) Calculated over the trailing 1-month period	19.51%	—	—
Volatility (6M) Calculated over the trailing 6-month period	43.94%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	54.18%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	47.69%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	49.48%	—	—

Dividends

PAAS vs. MAG - Dividend Comparison

PAAS's dividend yield for the trailing twelve months is around 1.18%, more than MAG's 0.59% 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.	1.18%	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 PAAS and MAG in my portfolio?

PAAS and MAG 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.