DNN vs. NGEX.TO

Last updated Jun 13, 2026

DNN (Denison Mines Corp) and NGEX.TO (NGEx Minerals Ltd) are both stocks. DNN operates in Uranium (Energy), while NGEX.TO operates in Other Industrial Metals & Mining (Basic Materials). Over the past 5 years, DNN returned 16.76%/yr vs 100.50%/yr for NGEX.TO. At a 0.15 correlation, their price movements are largely independent.

Performance

DNN vs. NGEX.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Denison Mines Corp (DNN) and NGEx Minerals Ltd (NGEX.TO). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

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

Returns By Period

In the year-to-date period, DNN achieves a 15.04% return, which is significantly higher than NGEX.TO's 1.77% return.

DNN

• 1D: 2.00%
• 1M: -14.76%
• YTD: 15.04%
• 6M: 17.24%
• 1Y: 88.89%
• 3Y*: 36.24%
• 5Y*: 16.76%
• 10Y*: 18.94%

NGEX.TO

• 1D: 6.56%
• 1M: -12.32%
• YTD: 1.77%
• 6M: 4.46%
• 1Y: 71.50%
• 3Y*: 56.05%
• 5Y*: 100.50%
• 10Y*: —

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

DNN vs. NGEX.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
DNN Denison Mines Corp	15.04%	47.78%	1.69%	53.91%	-16.06%	111.75%	54.05%	-2.33%
NGEX.TO NGEx Minerals Ltd	1.77%	100.03%	72.67%	138.13%	56.57%	255.95%	38.35%	-40.47%

Correlation

The correlation between DNN and NGEX.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	0.28
Correlation (5Y) Calculated over the trailing 5-year period	0.23
Correlation (All Time) Calculated using the full available price history since Aug 20, 2019	0.15

Over the past year, DNN and NGEX.TO have become more correlated (0.40) than their long-term average of 0.15, meaning their price movements have been converging.

Fundamentals

Market Cap DNN : $2.76B NGEX.TO : CA$5.77B
EPS DNN : -CA$0.28 NGEX.TO : -CA$0.63
PB Ratio DNN : 14.81 NGEX.TO : 9.07
Total Revenue (TTM) DNN : CA$4.34M NGEX.TO : CA$0.00
Gross Profit (TTM) DNN : -CA$12.87M NGEX.TO : -CA$36.44K
EBITDA (TTM) DNN : -CA$155.36M NGEX.TO : -CA$134.74M

Return for Risk

DNN vs. NGEX.TO — Risk / Return Rank

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

DNN

DNN Risk / Return Rank: 80
DNN Sharpe Ratio Rank: 83
DNN Sortino Ratio Rank: 79
DNN Omega Ratio Rank: 75
DNN Calmar Ratio Rank: 81
DNN Martin Ratio Rank: 82

NGEX.TO

NGEX.TO Risk / Return Rank: 77
NGEX.TO Sharpe Ratio Rank: 80
NGEX.TO Sortino Ratio Rank: 72
NGEX.TO Omega Ratio Rank: 74
NGEX.TO Calmar Ratio Rank: 80
NGEX.TO Martin Ratio Rank: 80

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.

DNN vs. NGEX.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Denison Mines Corp (DNN) and NGEx Minerals Ltd (NGEX.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.

	DNN	NGEX.TO	Difference
Sharpe ratio: Return per unit of total volatility	1.46	1.23	+0.23
Sortino ratio: Return per unit of downside risk	2.09	1.70	+0.39
Omega ratio: Gain probability vs. loss probability	1.25	1.23	+0.01
Calmar ratio: Return relative to maximum drawdown	2.54	2.33	+0.20
Martin ratio: Return relative to average drawdown	6.49	5.79	+0.70

DNN vs. NGEX.TO - Sharpe Ratio Comparison

The current DNN Sharpe Ratio is 1.46, which is comparable to the NGEX.TO Sharpe Ratio of 1.23. The chart below compares the historical Sharpe Ratios of DNN and NGEX.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.

Drawdowns

DNN vs. NGEX.TO - Drawdown Comparison

The maximum DNN drawdown since its inception was -98.96%, which is greater than NGEX.TO's maximum drawdown of -68.12%. Use the drawdown chart below to compare losses from any high point for DNN and NGEX.TO.

Drawdown Indicators

	DNN	NGEX.TO	Difference
Max Drawdown Largest peak-to-trough decline	-98.96%	-68.12%	-30.84%
Max Drawdown (1Y) Largest decline over 1 year	-35.24%	-30.80%	-4.44%
Max Drawdown (3Y) Largest decline over 3 years	-52.48%	-30.80%	-21.68%
Max Drawdown (5Y) Largest decline over 5 years	-55.66%	-68.12%	+12.46%
Max Drawdown (10Y) Largest decline over 10 years	-75.90%	—	—
Current Drawdown Current decline from peak	-84.13%	-18.14%	-65.99%
Average Drawdown Average peak-to-trough decline	-85.05%	-19.44%	-65.61%
Ulcer Index Depth and duration of drawdowns from previous peaks	13.74%	12.38%	+1.36%

Volatility

DNN vs. NGEX.TO - Volatility Comparison

The current volatility for Denison Mines Corp (DNN) is 19.82%, while NGEx Minerals Ltd (NGEX.TO) has a volatility of 26.50%. This indicates that DNN experiences smaller price fluctuations and is considered to be less risky than NGEX.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DNN	NGEX.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	19.82%	26.50%	-6.68%
Volatility (6M) Calculated over the trailing 6-month period	46.75%	46.12%	+0.63%
Volatility (1Y) Calculated over the trailing 1-year period	61.29%	58.60%	+2.69%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	63.48%	63.39%	+0.09%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	64.30%	72.51%	-8.21%

Dividends

DNN vs. NGEX.TO - Dividend Comparison

Neither DNN nor NGEX.TO has paid dividends to shareholders.

Tickers have no history of dividend payments

Financials

Frequently Asked Questions

Can I hold both DNN and NGEX.TO in my portfolio?

DNN and NGEX.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.