AEM.TO vs. NEM

Last updated Jun 13, 2026

AEM.TO (Agnico Eagle Mines Limited) and NEM (Newmont Corporation) are both stocks. Both operate in the Gold industry within the Basic Materials sector. Over the past 10 years, AEM.TO returned 15.41%/yr vs 14.79%/yr for NEM. A 0.73 correlation means they provide meaningful diversification when combined.

Performance

AEM.TO vs. NEM - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Agnico Eagle Mines Limited (AEM.TO) and Newmont Corporation (NEM). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

AEM.TO is traded in CAD, while NEM is traded in USD. To make them comparable, the NEM values have been converted to CAD using the latest available exchange rates.

Returns By Period

In the year-to-date period, AEM.TO achieves a -1.88% return, which is significantly lower than NEM's 2.97% return. Both investments have delivered pretty close results over the past 10 years, with AEM.TO having a 15.41% annualized return and NEM not far behind at 14.79%.

AEM.TO

• 1D: 3.40%
• 1M: -15.09%
• YTD: -1.88%
• 6M: -1.40%
• 1Y: 38.18%
• 3Y*: 53.43%
• 5Y*: 24.09%
• 10Y*: 15.41%

NEM

• 1D: 3.00%
• 1M: -13.76%
• YTD: 2.97%
• 6M: 4.15%
• 1Y: 85.40%
• 3Y*: 38.22%
• 5Y*: 13.77%
• 10Y*: 14.79%

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

AEM.TO vs. NEM - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
AEM.TO Agnico Eagle Mines Limited	-1.88%	109.63%	58.54%	6.65%	8.01%	-23.56%	13.64%	46.58%	-4.22%	3.57%
NEM Newmont Corporation	2.97%	160.36%	-0.03%	-10.93%	-15.75%	7.35%	36.96%	25.14%	1.74%	3.40%

Correlation

The correlation between AEM.TO and NEM is 0.79, 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	0.79
Correlation (3Y) Calculated over the trailing 3-year period	0.76
Correlation (5Y) Calculated over the trailing 5-year period	0.76
Correlation (10Y) Calculated over the trailing 10-year period	0.73
Correlation (All Time) Calculated using the full available price history since Jul 12, 2006	0.73

The correlation between AEM.TO and NEM has been stable across timeframes, ranging from 0.73 to 0.79 - a consistent structural relationship.

Fundamentals

EPS AEM.TO : $10.65 NEM : $6.34
PE Ratio AEM.TO : 15.27 NEM : 15.82
PEG Ratio AEM.TO : 0.23 NEM : 0.41
PS Ratio AEM.TO : 6.03 NEM : 4.83
Total Revenue (TTM) AEM.TO : $13.56B NEM : $17.23B
Gross Profit (TTM) AEM.TO : $8.26B NEM : $8.97B
EBITDA (TTM) AEM.TO : $9.54B NEM : $13.78B

Return for Risk

AEM.TO vs. NEM — Risk / Return Rank

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

AEM.TO

AEM.TO Risk / Return Rank: 66
AEM.TO Sharpe Ratio Rank: 71
AEM.TO Sortino Ratio Rank: 64
AEM.TO Omega Ratio Rank: 65
AEM.TO Calmar Ratio Rank: 63
AEM.TO Martin Ratio Rank: 67

NEM

NEM Risk / Return Rank: 82
NEM Sharpe Ratio Rank: 86
NEM Sortino Ratio Rank: 78
NEM Omega Ratio Rank: 80
NEM Calmar Ratio Rank: 82
NEM Martin Ratio Rank: 84

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.

AEM.TO vs. NEM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Agnico Eagle Mines Limited (AEM.TO) and Newmont Corporation (NEM). 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.

	AEM.TO	NEM	Difference
Sharpe ratio: Return per unit of total volatility	0.88	1.82	-0.94
Sortino ratio: Return per unit of downside risk	1.33	2.15	-0.82
Omega ratio: Gain probability vs. loss probability	1.18	1.30	-0.12
Calmar ratio: Return relative to maximum drawdown	1.00	3.12	-2.12
Martin ratio: Return relative to average drawdown	2.79	8.32	-5.53

AEM.TO vs. NEM - Sharpe Ratio Comparison

The current AEM.TO Sharpe Ratio is 0.88, which is lower than the NEM Sharpe Ratio of 1.82. The chart below compares the historical Sharpe Ratios of AEM.TO and NEM, 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

AEM.TO vs. NEM - Drawdown Comparison

The maximum AEM.TO drawdown since its inception was -70.33%, roughly equal to the maximum NEM drawdown of -70.02%. Use the drawdown chart below to compare losses from any high point for AEM.TO and NEM.

Drawdown Indicators

	AEM.TO	NEM	Difference
Max Drawdown Largest peak-to-trough decline	-70.33%	-70.02%	-0.31%
Max Drawdown (1Y) Largest decline over 1 year	-38.24%	-27.50%	-10.74%
Max Drawdown (3Y) Largest decline over 3 years	-38.24%	-33.96%	-4.28%
Max Drawdown (5Y) Largest decline over 5 years	-41.38%	-59.76%	+18.38%
Max Drawdown (10Y) Largest decline over 10 years	-55.07%	-59.76%	+4.69%
Current Drawdown Current decline from peak	-33.88%	-21.49%	-12.39%
Average Drawdown Average peak-to-trough decline	-29.18%	-29.16%	-0.02%
Ulcer Index Depth and duration of drawdowns from previous peaks	13.73%	10.30%	+3.43%

Volatility

AEM.TO vs. NEM - Volatility Comparison

Agnico Eagle Mines Limited (AEM.TO) and Newmont Corporation (NEM) have volatilities of 15.84% and 15.88%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AEM.TO	NEM	Difference
Volatility (1M) Calculated over the trailing 1-month period	15.84%	15.88%	-0.04%
Volatility (6M) Calculated over the trailing 6-month period	35.38%	37.55%	-2.17%
Volatility (1Y) Calculated over the trailing 1-year period	43.51%	47.44%	-3.93%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	35.15%	38.17%	-3.02%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	36.00%	36.11%	-0.11%

Dividends

AEM.TO vs. NEM - Dividend Comparison

AEM.TO's dividend yield for the trailing twelve months is around 1.03%, which matches NEM's 1.02% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AEM.TO Agnico Eagle Mines Limited	1.03%	0.97%	1.95%	2.98%	2.81%	2.08%	1.34%	0.81%	0.80%	0.77%	0.75%	0.95%
NEM Newmont Corporation	1.02%	1.00%	2.69%	3.87%	4.66%	3.55%	1.74%	3.31%	1.62%	0.67%	0.37%	0.56%

Financials

Frequently Asked Questions

Can I hold both AEM.TO and NEM in my portfolio?

AEM.TO and NEM have a correlation of 0.79, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.