AEM vs. NA.TO
AEM (Agnico Eagle Mines Limited) and NA.TO (National Bank of Canada) are both stocks. AEM operates in Gold (Basic Materials), while NA.TO operates in Banks - Diversified (Financial Services). Over the past 10 years, AEM returned 14.70%/yr vs 20.44%/yr for NA.TO. At a 0.10 correlation, their price movements are largely independent.
Performance
AEM vs. NA.TO - Performance Comparison
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Different Trading Currencies
AEM is traded in USD, while NA.TO is traded in CAD. To make them comparable, the NA.TO values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, AEM achieves a -3.66% return, which is significantly lower than NA.TO's 19.91% return. Over the past 10 years, AEM has underperformed NA.TO with an annualized return of 14.70%, while NA.TO has yielded a comparatively higher 20.44% annualized return.
AEM
- 1D
- 3.09%
- 1M
- -16.80%
- YTD
- -3.66%
- 6M
- -2.93%
- 1Y
- 34.46%
- 3Y*
- 50.92%
- 5Y*
- 20.78%
- 10Y*
- 14.70%
NA.TO
- 1D
- 0.39%
- 1M
- 0.46%
- YTD
- 19.91%
- 6M
- 21.47%
- 1Y
- 56.62%
- 3Y*
- 31.79%
- 5Y*
- 19.01%
- 10Y*
- 20.44%
AEM vs. NA.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
AEM Agnico Eagle Mines Limited | -3.66% | 119.53% | 46.04% | 8.98% | 1.08% | -22.81% | 17.39% | 54.18% | -11.51% | 10.92% |
NA.TO National Bank of Canada | 19.84% | 42.66% | 24.14% | 18.35% | -7.33% | 39.09% | 6.54% | 39.80% | -14.14% | 28.47% |
Correlation
The correlation between AEM and NA.TO is 0.26, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.26 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.22 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.18 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.08 |
Correlation (All Time) Calculated using the full available price history since Jul 12, 2006 | 0.10 |
The correlation between AEM and NA.TO shifts across timeframes, from 0.08 (10 years) to 0.26 (1 year), reflecting how their relationship changes across market environments.
Fundamentals
AEM:
$81.60B
NA.TO:
CA$82.13B
AEM:
$10.60
NA.TO:
CA$11.69
AEM:
15.35
NA.TO:
17.95
AEM:
0.24
NA.TO:
5.02
AEM:
6.06
NA.TO:
3.03
AEM:
3.11
NA.TO:
2.65
AEM:
$13.51B
NA.TO:
CA$27.33B
AEM:
$8.28B
NA.TO:
CA$14.01B
AEM:
$9.72B
NA.TO:
CA$6.37B
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Return for Risk
AEM vs. NA.TO — Risk / Return Rank
AEM
NA.TO
AEM vs. NA.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Agnico Eagle Mines Limited (AEM) and National Bank of Canada (NA.TO). 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 | NA.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.60 | ||
| Sortino ratioReturn per unit of downside risk | -3.33 | ||
| Omega ratioGain probability vs. loss probability | 1.16 | 1.61 | -0.45 |
| Calmar ratioReturn relative to maximum drawdown | 0.88 | 5.84 | -4.96 |
| Martin ratioReturn relative to average drawdown | 2.48 | 19.63 | -17.15 |
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Drawdowns
AEM vs. NA.TO - Drawdown Comparison
The maximum AEM drawdown since its inception was -90.49%, which is greater than NA.TO's maximum drawdown of -60.25%. Use the drawdown chart below to compare losses from any high point for AEM and NA.TO.
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Drawdown Indicators
| AEM | NA.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -90.49% | -60.25% | -30.24% |
Max Drawdown (1Y)Largest decline over 1 year | -39.39% | -9.74% | -29.65% |
Max Drawdown (3Y)Largest decline over 3 years | -39.39% | -23.63% | -15.76% |
Max Drawdown (5Y)Largest decline over 5 years | -45.03% | -25.64% | -19.39% |
Max Drawdown (10Y)Largest decline over 10 years | -53.86% | -52.59% | -1.27% |
Current DrawdownCurrent decline from peak | -35.35% | -2.92% | -32.43% |
Average DrawdownAverage peak-to-trough decline | -46.65% | -9.09% | -37.56% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 13.93% | 2.89% | +11.04% |
Volatility
AEM vs. NA.TO - Volatility Comparison
Agnico Eagle Mines Limited (AEM) has a higher volatility of 15.31% compared to National Bank of Canada (NA.TO) at 5.98%. This indicates that AEM's price experiences larger fluctuations and is considered to be riskier than NA.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| AEM | NA.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 15.31% | 5.98% | +9.33% |
Volatility (6M)Calculated over the trailing 6-month period | 36.02% | 14.12% | +21.90% |
Volatility (1Y)Calculated over the trailing 1-year period | 44.06% | 16.79% | +27.27% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 37.06% | 18.83% | +18.23% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 37.35% | 22.22% | +15.13% |
Dividends
AEM vs. NA.TO - Dividend Comparison
AEM's dividend yield for the trailing twelve months is around 1.05%, less than NA.TO's 2.31% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
AEM Agnico Eagle Mines Limited | 1.05% | 0.94% | 2.05% | 2.92% | 3.08% | 2.63% | 2.36% | 0.89% | 1.09% | 0.89% | 0.86% | 1.22% |
NA.TO National Bank of Canada | 2.31% | 2.75% | 3.36% | 4.03% | 4.03% | 3.11% | 3.96% | 3.77% | 4.44% | 3.70% | 4.03% | 5.16% |
Financials
AEM vs. NA.TO - Financials Comparison
This section allows you to compare key financial metrics between Agnico Eagle Mines Limited and National Bank of Canada. 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
AEM vs. NA.TO - Profitability Comparison
AEM - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Agnico Eagle Mines Limited reported a gross profit of 2.72B and revenue of 4.10B. Therefore, the gross margin over that period was 66.4%.
NA.TO - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, National Bank of Canada reported a gross profit of 3.66B and revenue of 8.07B. Therefore, the gross margin over that period was 45.4%.
AEM - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Agnico Eagle Mines Limited reported an operating income of 2.56B and revenue of 4.10B, resulting in an operating margin of 62.4%.
NA.TO - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, National Bank of Canada reported an operating income of 1.62B and revenue of 8.07B, resulting in an operating margin of 20.0%.
AEM - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Agnico Eagle Mines Limited reported a net income of 1.70B and revenue of 4.10B, resulting in a net margin of 41.4%.
NA.TO - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, National Bank of Canada reported a net income of 1.23B and revenue of 8.07B, resulting in a net margin of 15.3%.
Frequently Asked Questions
AEM and NA.TO have a correlation of 0.26, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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