SKE vs. ASA

Last updated Jun 13, 2026

SKE (Skeena Resources Ltd) and ASA (ASA Gold and Precious Metals Limited) are both stocks. SKE operates in Other Industrial Metals & Mining (Basic Materials), while ASA operates in Asset Management (Financial Services). Over the past 5 years, SKE returned 16.41%/yr vs 18.92%/yr for ASA. At a 0.50 correlation, their price movements are largely independent.

Performance

SKE vs. ASA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Skeena Resources Ltd (SKE) and ASA Gold and Precious Metals Limited (ASA). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SKE achieves a 18.46% return, which is significantly higher than ASA's -3.76% return.

SKE

• 1D: 7.87%
• 1M: -9.29%
• YTD: 18.46%
• 6M: 15.02%
• 1Y: 91.35%
• 3Y*: 77.46%
• 5Y*: 16.41%
• 10Y*: —

ASA

• 1D: 3.28%
• 1M: -11.35%
• YTD: -3.76%
• 6M: -0.75%
• 1Y: 67.58%
• 3Y*: 55.51%
• 5Y*: 18.92%
• 10Y*: 16.16%

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

SKE vs. ASA - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SKE Skeena Resources Ltd	18.46%	172.13%	78.69%	-8.27%	-48.99%	-4.14%	428.16%	134.09%	-59.87%	878.93%
ASA ASA Gold and Precious Metals Limited	-3.76%	195.60%	34.55%	5.38%	-32.06%	-3.48%	60.65%	44.35%	-16.18%	-4.94%

Correlation

The correlation between SKE and ASA 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	0.66
Correlation (5Y) Calculated over the trailing 5-year period	0.66
Correlation (All Time) Calculated using the full available price history since Sep 22, 2017	0.50

Over the past year, SKE and ASA have become more correlated (0.76) than their long-term average of 0.50, meaning their price movements have been converging.

Fundamentals

Market Cap SKE : $3.42B ASA : $1.08B
EPS SKE : -CA$2.12 ASA : $42.09
PB Ratio SKE : 26.44 ASA : 0.98
Total Revenue (TTM) SKE : CA$0.00 ASA : $137.30M
Gross Profit (TTM) SKE : -CA$1.29M ASA : $3.98M
EBITDA (TTM) SKE : -CA$109.58M ASA : $444.29M

Return for Risk

SKE vs. ASA — Risk / Return Rank

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

SKE

SKE Risk / Return Rank: 81
SKE Sharpe Ratio Rank: 84
SKE Sortino Ratio Rank: 78
SKE Omega Ratio Rank: 77
SKE Calmar Ratio Rank: 82
SKE Martin Ratio Rank: 83

ASA

ASA Risk / Return Rank: 78
ASA Sharpe Ratio Rank: 83
ASA Sortino Ratio Rank: 75
ASA Omega Ratio Rank: 76
ASA Calmar Ratio Rank: 77
ASA Martin Ratio Rank: 79

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.

SKE vs. ASA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Skeena Resources Ltd (SKE) and ASA Gold and Precious Metals Limited (ASA). 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.

	SKE	ASA	Difference
Sharpe ratio: Return per unit of total volatility	1.61	1.48	+0.14
Sortino ratio: Return per unit of downside risk	2.08	1.88	+0.20
Omega ratio: Gain probability vs. loss probability	1.27	1.25	+0.02
Calmar ratio: Return relative to maximum drawdown	2.76	2.04	+0.72
Martin ratio: Return relative to average drawdown	7.15	5.57	+1.58

SKE vs. ASA - Sharpe Ratio Comparison

The current SKE Sharpe Ratio is 1.61, which is comparable to the ASA Sharpe Ratio of 1.48. The chart below compares the historical Sharpe Ratios of SKE and ASA, 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

SKE vs. ASA - Drawdown Comparison

The maximum SKE drawdown since its inception was -75.69%, smaller than the maximum ASA drawdown of -80.36%. Use the drawdown chart below to compare losses from any high point for SKE and ASA.

Drawdown Indicators

	SKE	ASA	Difference
Max Drawdown Largest peak-to-trough decline	-75.69%	-80.36%	+4.67%
Max Drawdown (1Y) Largest decline over 1 year	-34.71%	-35.50%	+0.79%
Max Drawdown (3Y) Largest decline over 3 years	-38.40%	-35.50%	-2.90%
Max Drawdown (5Y) Largest decline over 5 years	-75.69%	-48.93%	-26.76%
Max Drawdown (10Y) Largest decline over 10 years	—	-51.66%	—
Current Drawdown Current decline from peak	-26.26%	-29.36%	+3.10%
Average Drawdown Average peak-to-trough decline	-34.38%	-42.53%	+8.15%
Ulcer Index Depth and duration of drawdowns from previous peaks	13.37%	12.97%	+0.40%

Volatility

SKE vs. ASA - Volatility Comparison

Skeena Resources Ltd (SKE) has a higher volatility of 22.02% compared to ASA Gold and Precious Metals Limited (ASA) at 18.26%. This indicates that SKE's price experiences larger fluctuations and is considered to be riskier than ASA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SKE	ASA	Difference
Volatility (1M) Calculated over the trailing 1-month period	22.02%	18.26%	+3.76%
Volatility (6M) Calculated over the trailing 6-month period	45.45%	40.96%	+4.49%
Volatility (1Y) Calculated over the trailing 1-year period	59.38%	49.02%	+10.36%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	58.32%	35.54%	+22.78%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	386.82%	35.56%	+351.26%

Dividends

SKE vs. ASA - Dividend Comparison

SKE has not paid dividends to shareholders, while ASA's dividend yield for the trailing twelve months is around 0.12%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ASA ASA Gold and Precious Metals Limited	0.12%	0.10%	0.20%	0.13%	0.14%	0.09%	0.09%	0.15%	0.32%	0.35%	0.36%	0.56%
SKE Skeena Resources Ltd	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Financials

Frequently Asked Questions

Can I hold both SKE and ASA in my portfolio?

SKE and ASA 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.

Which is riskier, SKE or ASA?

SKE has higher volatility (22.02%) compared to ASA (18.26%). In terms of maximum drawdown, SKE dropped -75.69% vs ASA's -80.36%.

Which has better risk-adjusted returns?

SKE currently has the higher Sharpe Ratio (1.61 vs 1.48), 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.