PAF.L vs. A1G.AX

Last updated Jun 9, 2026

PAF.L (Pan African Resources plc) and A1G.AX (African Gold Limited) are both stocks. Both are in the Basic Materials sector — PAF.L in Gold, A1G.AX in Other Industrial Metals & Mining. At a 0.06 correlation, their price movements are largely independent.

Performance

PAF.L vs. A1G.AX - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in Pan African Resources plc (PAF.L) and African Gold Limited (A1G.AX). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

PAF.L is traded in GBp, while A1G.AX is traded in AUD. To make them comparable, the A1G.AX values have been converted to GBp using the latest available exchange rates.

Returns By Period

PAF.L

• 1D: 1.79%
• 1M: -28.34%
• YTD: -10.18%
• 6M: 3.31%
• 1Y: 137.56%
• 3Y*: 107.18%
• 5Y*: 45.12%
• 10Y*: 25.11%

A1G.AX

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

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

PAF.L vs. A1G.AX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
PAF.L Pan African Resources plc	-10.18%	258.03%	109.32%	6.38%	4.14%	-25.77%	102.96%	13.86%
A1G.AX African Gold Limited	68.38%	1,101.59%	121.02%	-72.69%	-21.67%	-5.17%	40.05%	-40.57%

Correlation

The correlation between PAF.L and A1G.AX is 0.18, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.18
Correlation (3Y) Calculated over the trailing 3-year period	0.09
Correlation (5Y) Calculated over the trailing 5-year period	0.06
Correlation (All Time) Calculated using the full available price history since Feb 14, 2019	0.06

The correlation between PAF.L and A1G.AX shifts across timeframes, from 0.06 (all time) to 0.18 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

PAF.L vs. A1G.AX — Risk / Return Rank

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

PAF.L

PAF.L Risk / Return Rank: 88
PAF.L Sharpe Ratio Rank: 93
PAF.L Sortino Ratio Rank: 87
PAF.L Omega Ratio Rank: 87
PAF.L Calmar Ratio Rank: 85
PAF.L 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.

PAF.L vs. A1G.AX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Pan African Resources plc (PAF.L) and African Gold Limited (A1G.AX). 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.

	PAF.L	A1G.AX	Difference
Sharpe ratio: Return per unit of total volatility	2.55	—	—
Sortino ratio: Return per unit of downside risk	2.76	—	—
Omega ratio: Gain probability vs. loss probability	1.37	—	—
Calmar ratio: Return relative to maximum drawdown	3.27	—	—
Martin ratio: Return relative to average drawdown	10.92	—	—
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

	PAF.L	A1G.AX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.55	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.94	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.47	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.34	—	—

Drawdowns

Drawdown Indicators

	PAF.L	A1G.AX	Difference
Max Drawdown Largest peak-to-trough decline	-80.73%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-41.78%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-41.78%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-47.34%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-70.68%	—	—
Current Drawdown Current decline from peak	-40.74%	—	—
Average Drawdown Average peak-to-trough decline	-29.24%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	12.54%	—	—

Volatility

Volatility by Period

	PAF.L	A1G.AX	Difference
Volatility (1M) Calculated over the trailing 1-month period	20.81%	—	—
Volatility (6M) Calculated over the trailing 6-month period	44.49%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	53.71%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	47.93%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	53.54%	—	—

Dividends

PAF.L vs. A1G.AX - Dividend Comparison

PAF.L's dividend yield for the trailing twelve months is around 2.02%, while A1G.AX has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
A1G.AX African Gold Limited	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
PAF.L Pan African Resources plc	2.02%	1.35%	2.79%	4.52%	5.25%	5.09%	2.92%	0.98%	0.00%	3.38%	5.67%	6.83%

Financials

Frequently Asked Questions

Can I hold both PAF.L and A1G.AX in my portfolio?

PAF.L and A1G.AX have a correlation of 0.18, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.