PAAS vs. MAG

Last updated Jun 25, 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: -3.96%
• 1M: -17.70%
• YTD: -13.82%
• 6M: -17.05%
• 1Y: 58.48%
• 3Y*: 48.23%
• 5Y*: 11.63%
• 10Y*: 12.82%

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.	-13.82%	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 0.32, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.32
Correlation (3Y) Calculated over the trailing 3-year period	0.70
Correlation (5Y) Calculated over the trailing 5-year period	0.74
Correlation (10Y) Calculated over the trailing 10-year period	0.75
Correlation (All Time) Calculated using the full available price history since Jun 12, 1995	0.32

The correlation between PAAS and MAG shifts across timeframes, from 0.32 (all time) to 0.74 (10 years), reflecting how their relationship changes across market environments.

Fundamentals

Market Cap PAAS : $18.73B MAG : $2.56B
EPS PAAS : $3.21 MAG : $0.99
PE Ratio PAAS : 13.82 MAG : 24.61
PEG Ratio PAAS : 0.08 MAG : 0.18
PB Ratio PAAS : 2.55 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: 72
PAAS Sharpe Ratio Rank: 74
PAAS Sortino Ratio Rank: 69
PAAS Omega Ratio Rank: 69
PAAS Calmar Ratio Rank: 73
PAAS Martin Ratio Rank: 74

MAG

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

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.

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	MAG	Difference
Sharpe ratio: Return per unit of total volatility	1.05	—	—
Sortino ratio: Return per unit of downside risk	1.59	—	—
Omega ratio: Gain probability vs. loss probability	1.21	—	—
Calmar ratio: Return relative to maximum drawdown	1.66	—	—
Martin ratio: Return relative to average drawdown	4.35	—	—

Drawdowns

Drawdown Indicators

	PAAS	MAG	Difference
Max Drawdown Largest peak-to-trough decline	-85.10%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-35.33%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-35.33%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-57.39%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-66.74%	—	—
Current Drawdown Current decline from peak	-35.00%	—	—
Average Drawdown Average peak-to-trough decline	-41.63%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	13.50%	—	—

Volatility

Volatility by Period

	PAAS	MAG	Difference
Volatility (1M) Calculated over the trailing 1-month period	18.89%	—	—
Volatility (6M) Calculated over the trailing 6-month period	45.43%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	56.10%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	48.13%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	49.69%	—	—

Dividends

PAAS vs. MAG - Dividend Comparison

PAAS's dividend yield for the trailing twelve months is around 1.40%, while MAG has not paid dividends to shareholders.

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.	1.40%	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 0.32, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.