CNC.V vs. AEM.TO

Last updated Jun 4, 2026

CNC.V (Canada Nickel Company Inc) and AEM.TO (Agnico Eagle Mines Limited) are both stocks. Both are in the Basic Materials sector — CNC.V in Other Industrial Metals & Mining, AEM.TO in Gold. Over the past 5 years, CNC.V returned -14.98%/yr vs 25.72%/yr for AEM.TO. At a 0.17 correlation, their price movements are largely independent.

Performance

CNC.V vs. AEM.TO - Performance Comparison

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

Returns By Period

In the year-to-date period, CNC.V achieves a 13.57% return, which is significantly higher than AEM.TO's 2.74% return.

CNC.V

• 1D: -5.36%
• 1M: -5.92%
• YTD: 13.57%
• 6M: 27.20%
• 1Y: 67.37%
• 3Y*: 6.40%
• 5Y*: -14.98%
• 10Y*: —

AEM.TO

• 1D: -3.65%
• 1M: -2.46%
• YTD: 2.74%
• 6M: 1.24%
• 1Y: 43.02%
• 3Y*: 53.44%
• 5Y*: 25.72%
• 10Y*: 16.00%

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

CNC.V vs. AEM.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
CNC.V Canada Nickel Company Inc	13.57%	52.17%	-19.30%	-44.39%	-44.74%	91.24%	115.56%
AEM.TO Agnico Eagle Mines Limited	2.74%	109.61%	58.54%	6.66%	8.18%	-22.88%	35.45%

Correlation

The correlation between CNC.V and AEM.TO is 0.40, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.40
Correlation (3Y) Calculated over the trailing 3-year period	0.25
Correlation (5Y) Calculated over the trailing 5-year period	0.20
Correlation (All Time) Calculated using the full available price history since Feb 28, 2020	0.17

Over the past year, CNC.V and AEM.TO have become more correlated (0.40) than their long-term average of 0.17, meaning their price movements have been converging.

Fundamentals

Market Cap CNC.V : CA$360.76M AEM.TO : CA$119.77B
EPS CNC.V : -CA$0.13 AEM.TO : CA$10.65
PB Ratio CNC.V : 1.51 AEM.TO : 4.56
Total Revenue (TTM) CNC.V : CA$0.00 AEM.TO : CA$13.56B
Gross Profit (TTM) CNC.V : CA$0.00 AEM.TO : CA$8.26B
EBITDA (TTM) CNC.V : -CA$15.27M AEM.TO : CA$9.54B

Return for Risk

CNC.V vs. AEM.TO — Risk / Return Rank

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

CNC.V

CNC.V Risk / Return Rank: 70
CNC.V Sharpe Ratio Rank: 72
CNC.V Sortino Ratio Rank: 72
CNC.V Omega Ratio Rank: 70
CNC.V Calmar Ratio Rank: 70
CNC.V Martin Ratio Rank: 67

AEM.TO

AEM.TO Risk / Return Rank: 67
AEM.TO Sharpe Ratio Rank: 72
AEM.TO Sortino Ratio Rank: 64
AEM.TO Omega Ratio Rank: 65
AEM.TO Calmar Ratio Rank: 67
AEM.TO Martin Ratio Rank: 68

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.

CNC.V vs. AEM.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Canada Nickel Company Inc (CNC.V) and Agnico Eagle Mines Limited (AEM.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.

	CNC.V	AEM.TO	Difference
Sharpe ratio: Return per unit of total volatility	0.98	1.02	-0.04
Sortino ratio: Return per unit of downside risk	1.84	1.47	+0.38
Omega ratio: Gain probability vs. loss probability	1.22	1.20	+0.02
Calmar ratio: Return relative to maximum drawdown	1.54	1.40	+0.14
Martin ratio: Return relative to average drawdown	2.97	3.45	-0.49
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CNC.V vs. AEM.TO - Sharpe Ratio Comparison

The current CNC.V Sharpe Ratio is 0.98, which is comparable to the AEM.TO Sharpe Ratio of 1.02. The chart below compares the historical Sharpe Ratios of CNC.V and AEM.TO, 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

	CNC.V	AEM.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.98	1.02	-0.04
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.25	0.74	-0.99
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.45	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.12	0.22	-0.09

Drawdowns

CNC.V vs. AEM.TO - Drawdown Comparison

The maximum CNC.V drawdown since its inception was -83.14%, roughly equal to the maximum AEM.TO drawdown of -84.38%. Use the drawdown chart below to compare losses from any high point for CNC.V and AEM.TO.

Drawdown Indicators

	CNC.V	AEM.TO	Difference
Max Drawdown Largest peak-to-trough decline	-83.14%	-84.38%	+1.24%
Max Drawdown (1Y) Largest decline over 1 year	-44.09%	-30.87%	-13.22%
Max Drawdown (3Y) Largest decline over 3 years	-64.25%	-30.87%	-33.38%
Max Drawdown (5Y) Largest decline over 5 years	-80.68%	-42.10%	-38.58%
Max Drawdown (10Y) Largest decline over 10 years	—	-54.60%	—
Current Drawdown Current decline from peak	-63.78%	-30.76%	-33.02%
Average Drawdown Average peak-to-trough decline	-55.10%	-34.18%	-20.92%
Ulcer Index Depth and duration of drawdowns from previous peaks	22.78%	12.50%	+10.28%

Volatility

CNC.V vs. AEM.TO - Volatility Comparison

The current volatility for Canada Nickel Company Inc (CNC.V) is 13.19%, while Agnico Eagle Mines Limited (AEM.TO) has a volatility of 14.32%. This indicates that CNC.V experiences smaller price fluctuations and is considered to be less risky than AEM.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CNC.V	AEM.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	13.19%	14.32%	-1.13%
Volatility (6M) Calculated over the trailing 6-month period	48.79%	34.04%	+14.75%
Volatility (1Y) Calculated over the trailing 1-year period	69.45%	42.46%	+26.99%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	60.32%	34.87%	+25.45%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	76.70%	35.86%	+40.84%

Dividends

CNC.V vs. AEM.TO - Dividend Comparison

CNC.V has not paid dividends to shareholders, while AEM.TO's dividend yield for the trailing twelve months is around 0.72%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AEM.TO Agnico Eagle Mines Limited	0.72%	0.96%	1.95%	2.99%	2.96%	3.13%	1.41%	0.92%	1.04%	0.92%	0.98%	1.13%
CNC.V Canada Nickel Company 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 CNC.V and AEM.TO in my portfolio?

CNC.V and AEM.TO have a correlation of 0.40, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.