SBSW vs. PAAS
SBSW (Sibanye Stillwater Limited) and PAAS (Pan American Silver Corp.) are both stocks. Both are in the Basic Materials sector — SBSW in Gold, PAAS in Silver. Over the past 10 years, SBSW returned 1.19%/yr vs 14.13%/yr for PAAS. A 0.60 correlation means they provide meaningful diversification when combined.
Performance
SBSW vs. PAAS - Performance Comparison
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Returns By Period
In the year-to-date period, SBSW achieves a -30.17% return, which is significantly lower than PAAS's -4.86% return. Over the past 10 years, SBSW has underperformed PAAS with an annualized return of 1.19%, while PAAS has yielded a comparatively higher 14.13% annualized return.
SBSW
- 1D
- -4.73%
- 1M
- -15.18%
- YTD
- -30.17%
- 6M
- -28.46%
- 1Y
- 42.56%
- 3Y*
- 11.08%
- 5Y*
- -5.97%
- 10Y*
- 1.19%
PAAS
- 1D
- -2.89%
- 1M
- -7.32%
- YTD
- -4.86%
- 6M
- -1.52%
- 1Y
- 71.44%
- 3Y*
- 50.04%
- 5Y*
- 13.93%
- 10Y*
- 14.13%
SBSW vs. PAAS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SBSW Sibanye Stillwater Limited | -30.17% | 331.82% | -39.23% | -46.54% | -9.57% | -12.44% | 61.55% | 250.88% | -41.72% | -26.00% |
PAAS Pan American Silver Corp. | -4.86% | 160.40% | 26.61% | 2.50% | -33.00% | -26.78% | 46.88% | 63.86% | -5.30% | 3.86% |
Correlation
The correlation between SBSW and PAAS is 0.76, 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 | 0.76 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.67 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.66 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.60 |
Correlation (All Time) Calculated using the full available price history since Feb 11, 2013 | 0.60 |
The correlation between SBSW and PAAS shifts across timeframes, from 0.60 (10 years) to 0.76 (1 year), reflecting how their relationship changes across market environments.
Fundamentals
SBSW:
$6.84B
PAAS:
$20.67B
SBSW:
-ZAR 17.51
PAAS:
$3.21
SBSW:
0.47
PAAS:
4.83
SBSW:
2.83
PAAS:
2.81
SBSW:
ZAR 238.26B
PAAS:
$4.02B
SBSW:
ZAR 50.42B
PAAS:
$1.76B
SBSW:
ZAR 23.43B
PAAS:
$2.14B
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Return for Risk
SBSW vs. PAAS — Risk / Return Rank
SBSW
PAAS
SBSW vs. PAAS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Sibanye Stillwater Limited (SBSW) and Pan American Silver Corp. (PAAS). 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.
| SBSW | PAAS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.67 | ||
| Sortino ratioReturn per unit of downside risk | -0.58 | ||
| Omega ratioGain probability vs. loss probability | 1.15 | 1.24 | -0.08 |
| Calmar ratioReturn relative to maximum drawdown | 0.77 | 2.03 | -1.27 |
| Martin ratioReturn relative to average drawdown | 1.74 | 5.50 | -3.75 |
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Drawdowns
SBSW vs. PAAS - Drawdown Comparison
The maximum SBSW drawdown since its inception was -89.24%, roughly equal to the maximum PAAS drawdown of -85.10%. Use the drawdown chart below to compare losses from any high point for SBSW and PAAS.
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Drawdown Indicators
| SBSW | PAAS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -89.24% | -85.10% | -4.14% |
Max Drawdown (1Y)Largest decline over 1 year | -55.76% | -35.33% | -20.43% |
Max Drawdown (3Y)Largest decline over 3 years | -58.18% | -35.33% | -22.85% |
Max Drawdown (5Y)Largest decline over 5 years | -82.53% | -57.39% | -25.14% |
Max Drawdown (10Y)Largest decline over 10 years | -89.24% | -66.74% | -22.50% |
Current DrawdownCurrent decline from peak | -52.88% | -28.25% | -24.63% |
Average DrawdownAverage peak-to-trough decline | -48.21% | -41.63% | -6.58% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 24.49% | 13.04% | +11.45% |
Volatility
SBSW vs. PAAS - Volatility Comparison
Sibanye Stillwater Limited (SBSW) has a higher volatility of 21.20% compared to Pan American Silver Corp. (PAAS) at 18.40%. This indicates that SBSW's price experiences larger fluctuations and is considered to be riskier than PAAS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SBSW | PAAS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 21.20% | 18.40% | +2.80% |
Volatility (6M)Calculated over the trailing 6-month period | 52.95% | 45.06% | +7.89% |
Volatility (1Y)Calculated over the trailing 1-year period | 68.50% | 55.69% | +12.81% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 60.04% | 48.02% | +12.02% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 64.22% | 49.62% | +14.60% |
Dividends
SBSW vs. PAAS - Dividend Comparison
SBSW's dividend yield for the trailing twelve months is around 3.40%, more than PAAS's 1.27% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PAAS Pan American Silver Corp. | 1.27% | 0.89% | 1.98% | 2.45% | 2.75% | 1.36% | 0.64% | 0.59% | 0.96% | 0.64% | 0.33% | 4.23% |
SBSW Sibanye Stillwater Limited | 3.40% | 0.00% | 0.00% | 6.98% | 7.68% | 13.34% | 0.75% | 0.00% | 0.00% | 2.68% | 5.12% | 3.05% |
Financials
SBSW vs. PAAS - Financials Comparison
This section allows you to compare key financial metrics between Sibanye Stillwater Limited and Pan American Silver Corp.. You can select fields from income statements, balance sheets, and cash flow statements to easily visualize and compare the financial health of both companies.
Total Revenue: Total amount of money received from sales and other business activities
SBSW vs. PAAS - Profitability Comparison
SBSW - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Sibanye Stillwater Limited reported a gross profit of 18.20B and revenue of 71.36B. Therefore, the gross margin over that period was 25.5%.
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%.
SBSW - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Sibanye Stillwater Limited reported an operating income of 13.77B and revenue of 71.36B, resulting in an operating margin of 19.3%.
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%.
SBSW - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Sibanye Stillwater Limited reported a net income of -1.51B and revenue of 71.36B, resulting in a net margin of -2.1%.
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%.
Frequently Asked Questions
SBSW and PAAS have a correlation of 0.76, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SBSW has higher volatility (21.20%) compared to PAAS (18.40%). In terms of maximum drawdown, SBSW dropped -89.24% vs PAAS's -85.10%.
PAAS currently has the higher Sharpe Ratio (1.29 vs 0.62), 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.
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