AEM vs. NGD

Last updated Jun 13, 2026

AEM (Agnico Eagle Mines Limited) and NGD (New Gold Inc.) are both stocks. Both operate in the Gold industry within the Basic Materials sector. A 0.61 correlation means they provide meaningful diversification when combined.

Performance

AEM vs. NGD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Agnico Eagle Mines Limited (AEM) and New Gold Inc. (NGD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

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%

NGD

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

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

AEM vs. NGD - 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%
NGD New Gold Inc.	4.25%	251.21%	69.86%	48.98%	-34.67%	-31.51%	148.86%	16.28%	-77.00%	-6.00%

Correlation

The correlation between AEM and NGD is 0.63, 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	0.63
Correlation (3Y) Calculated over the trailing 3-year period	0.70
Correlation (5Y) Calculated over the trailing 5-year period	0.68
Correlation (10Y) Calculated over the trailing 10-year period	0.63
Correlation (All Time) Calculated using the full available price history since Nov 18, 2004	0.61

The correlation between AEM and NGD has been stable across timeframes, ranging from 0.61 to 0.70 - a consistent structural relationship.

Fundamentals

EPS AEM : $10.60 NGD : $1.61
PE Ratio AEM : 15.35 NGD : 5.64
PEG Ratio AEM : 0.24 NGD : 0.01
PS Ratio AEM : 6.06 NGD : 3.30
Total Revenue (TTM) AEM : $13.51B NGD : $1.46B
Gross Profit (TTM) AEM : $8.28B NGD : $758.26M
EBITDA (TTM) AEM : $9.72B NGD : $1.19B

Return for Risk

AEM vs. NGD — Risk / Return Rank

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

AEM

AEM Risk / Return Rank: 64
AEM Sharpe Ratio Rank: 69
AEM Sortino Ratio Rank: 61
AEM Omega Ratio Rank: 62
AEM Calmar Ratio Rank: 61
AEM Martin Ratio Rank: 65

NGD

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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 vs. NGD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Agnico Eagle Mines Limited (AEM) and New Gold Inc. (NGD). 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	NGD	Difference
Sharpe ratio: Return per unit of total volatility	0.79	—	—
Sortino ratio: Return per unit of downside risk	1.22	—	—
Omega ratio: Gain probability vs. loss probability	1.16	—	—
Calmar ratio: Return relative to maximum drawdown	0.88	—	—
Martin ratio: Return relative to average drawdown	2.48	—	—

Drawdowns

Drawdown Indicators

	AEM	NGD	Difference
Max Drawdown Largest peak-to-trough decline	-90.49%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-39.39%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-39.39%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-45.03%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-53.86%	—	—
Current Drawdown Current decline from peak	-35.35%	—	—
Average Drawdown Average peak-to-trough decline	-46.65%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	13.93%	—	—

Volatility

Volatility by Period

	AEM	NGD	Difference
Volatility (1M) Calculated over the trailing 1-month period	15.31%	—	—
Volatility (6M) Calculated over the trailing 6-month period	36.02%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	44.06%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	37.06%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	37.35%	—	—

Dividends

AEM vs. NGD - Dividend Comparison

AEM's dividend yield for the trailing twelve months is around 1.05%, while NGD has not paid dividends to shareholders.

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%
NGD New Gold Inc.	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 AEM and NGD in my portfolio?

AEM and NGD have a correlation of 0.63, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.