CDE vs. AG

Last updated Jun 3, 2026

CDE (Coeur Mining, Inc.) and AG (First Majestic Silver Corp.) are both stocks. Both are in the Basic Materials sector — CDE in Gold, AG in Silver. Over the past 10 years, CDE returned 8.66%/yr vs 6.12%/yr for AG. A 0.76 correlation means they provide meaningful diversification when combined.

Performance

CDE vs. AG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Coeur Mining, Inc. (CDE) and First Majestic Silver Corp. (AG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CDE achieves a 7.75% return, which is significantly lower than AG's 26.14% return. Over the past 10 years, CDE has outperformed AG with an annualized return of 8.66%, while AG has yielded a comparatively lower 6.12% annualized return.

CDE

• 1D: -0.67%
• 1M: 8.85%
• YTD: 7.75%
• 6M: 16.08%
• 1Y: 122.61%
• 3Y*: 83.68%
• 5Y*: 14.48%
• 10Y*: 8.66%

AG

• 1D: 0.77%
• 1M: 5.84%
• YTD: 26.14%
• 6M: 32.08%
• 1Y: 205.74%
• 3Y*: 52.85%
• 5Y*: 3.97%
• 10Y*: 6.12%

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

CDE vs. AG - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
CDE Coeur Mining, Inc.	7.75%	211.71%	75.46%	-2.98%	-33.33%	-51.30%	28.09%	80.76%	-40.40%	-17.49%
AG First Majestic Silver Corp.	26.14%	204.32%	-10.47%	-25.99%	-24.73%	-17.24%	9.62%	108.15%	-12.61%	-11.66%

Correlation

The correlation between CDE and AG is 0.81, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.81
Correlation (3Y) Calculated over the trailing 3-year period	0.77
Correlation (5Y) Calculated over the trailing 5-year period	0.78
Correlation (10Y) Calculated over the trailing 10-year period	0.76
Correlation (All Time) Calculated using the full available price history since Dec 16, 2010	0.76

The correlation between CDE and AG has been stable across timeframes, ranging from 0.76 to 0.81 - a consistent structural relationship.

Fundamentals

EPS CDE : $1.64 AG : $0.60
PE Ratio CDE : 11.67 AG : 35.20
PEG Ratio CDE : 0.10 AG : 0.63
PS Ratio CDE : 3.64 AG : 6.94
Total Revenue (TTM) CDE : $2.57B AG : $1.49B
Gross Profit (TTM) CDE : $909.07M AG : $646.49M
EBITDA (TTM) CDE : $1.23B AG : $824.25M

Return for Risk

CDE vs. AG — Risk / Return Rank

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

CDE

CDE Risk / Return Rank: 81
CDE Sharpe Ratio Rank: 85
CDE Sortino Ratio Rank: 79
CDE Omega Ratio Rank: 78
CDE Calmar Ratio Rank: 84
CDE Martin Ratio Rank: 80

AG

AG Risk / Return Rank: 90
AG Sharpe Ratio Rank: 93
AG Sortino Ratio Rank: 88
AG Omega Ratio Rank: 86
AG Calmar Ratio Rank: 92
AG Martin Ratio Rank: 90

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.

CDE vs. AG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Coeur Mining, Inc. (CDE) and First Majestic Silver Corp. (AG). 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.

	CDE	AG	Difference
Sharpe ratio Return per unit of total volatility	1.78	2.84	-1.06
Sortino ratio Return per unit of downside risk	2.25	3.02	-0.76
Omega ratio Gain probability vs. loss probability	1.30	1.38	-0.08
Calmar ratio Return relative to maximum drawdown	3.41	5.61	-2.21
Martin ratio Return relative to average drawdown	6.67	12.63	-5.96
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CDE vs. AG - Sharpe Ratio Comparison

The current CDE Sharpe Ratio is 1.78, which is lower than the AG Sharpe Ratio of 2.84. The chart below compares the historical Sharpe Ratios of CDE and AG, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	CDE	AG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.78	2.84	-1.06
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.21	0.07	+0.15
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.13	0.10	+0.03
Sharpe Ratio (All Time) Calculated using the full available price history	-0.10	0.05	-0.15

Drawdowns

CDE vs. AG - Drawdown Comparison

The maximum CDE drawdown since its inception was -99.40%, which is greater than AG's maximum drawdown of -90.20%. Use the drawdown chart below to compare losses from any high point for CDE and AG.

Drawdown Indicators

	CDE	AG	Difference
Max Drawdown Largest peak-to-trough decline	-99.40%	-90.20%	-9.20%
Max Drawdown (1Y) Largest decline over 1 year	-40.44%	-42.92%	+2.48%
Max Drawdown (3Y) Largest decline over 3 years	-40.44%	-42.92%	+2.48%
Max Drawdown (5Y) Largest decline over 5 years	-81.79%	-76.89%	-4.90%
Max Drawdown (10Y) Largest decline over 10 years	-87.42%	-80.82%	-6.60%
Current Drawdown Current decline from peak	-93.34%	-34.37%	-58.97%
Average Drawdown Average peak-to-trough decline	-81.49%	-59.21%	-22.28%
Ulcer Index Depth and duration of drawdowns from previous peaks	20.65%	19.08%	+1.57%

Volatility

CDE vs. AG - Volatility Comparison

The current volatility for Coeur Mining, Inc. (CDE) is 19.40%, while First Majestic Silver Corp. (AG) has a volatility of 21.88%. This indicates that CDE experiences smaller price fluctuations and is considered to be less risky than AG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CDE	AG	Difference
Volatility (1M) Calculated over the trailing 1-month period	19.40%	21.88%	-2.48%
Volatility (6M) Calculated over the trailing 6-month period	53.13%	55.72%	-2.59%
Volatility (1Y) Calculated over the trailing 1-year period	69.59%	73.78%	-4.19%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	68.16%	61.33%	+6.83%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	68.72%	61.82%	+6.90%

Dividends

CDE vs. AG - Dividend Comparison

CDE's dividend yield for the trailing twelve months is around 0.10%, less than AG's 0.17% yield.

Position	TTM	2025	2024	2023	2022	2021
AG First Majestic Silver Corp.	0.17%	0.12%	0.33%	0.34%	0.31%	0.14%
CDE Coeur Mining, Inc.	0.10%	0.00%	0.00%	0.00%	0.00%	0.00%

Financials

CDE vs. AG - Profitability Comparison

The chart below illustrates the profitability comparison between Coeur Mining, Inc. and First Majestic Silver Corp. over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

CDE - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Coeur Mining, Inc. reported a gross profit of 0.00 and revenue of 856.19M. Therefore, the gross margin over that period was 0.0%.

AG - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, First Majestic Silver Corp. reported a gross profit of 259.78M and revenue of 470.07M. Therefore, the gross margin over that period was 55.3%.

CDE - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Coeur Mining, Inc. reported an operating income of 349.17M and revenue of 856.19M, resulting in an operating margin of 40.8%.

AG - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, First Majestic Silver Corp. reported an operating income of 232.71M and revenue of 470.07M, resulting in an operating margin of 49.5%.

CDE - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Coeur Mining, Inc. reported a net income of 246.76M and revenue of 856.19M, resulting in a net margin of 28.8%.

AG - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, First Majestic Silver Corp. reported a net income of 126.32M and revenue of 470.07M, resulting in a net margin of 26.9%.

Frequently Asked Questions

Can I hold both CDE and AG in my portfolio?

CDE and AG have a correlation of 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CDE or AG?

AG has higher volatility (21.88%) compared to CDE (19.40%). In terms of maximum drawdown, CDE dropped -99.40% vs AG's -90.20%.

Which has better risk-adjusted returns?

AG currently has the higher Sharpe Ratio (2.84 vs 1.78), 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.