DNN vs. NXE

Last updated Jun 23, 2026

DNN (Denison Mines Corp) and NXE (NexGen Energy Ltd.) are both stocks. Both operate in the Uranium industry within the Energy sector. Over the past 10 years, DNN returned 19.73%/yr vs 18.40%/yr for NXE. A 0.66 correlation means they provide meaningful diversification when combined.

Performance

DNN vs. NXE - Performance Comparison

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

Returns By Period

In the year-to-date period, DNN achieves a 22.93% return, which is significantly higher than NXE's 13.59% return. Over the past 10 years, DNN has outperformed NXE with an annualized return of 19.73%, while NXE has yielded a comparatively lower 18.40% annualized return.

DNN

• 1D: -2.39%
• 1M: 1.24%
• YTD: 22.93%
• 6M: 18.05%
• 1Y: 87.93%
• 3Y*: 40.46%
• 5Y*: 20.08%
• 10Y*: 19.73%

NXE

• 1D: -1.88%
• 1M: -1.97%
• YTD: 13.59%
• 6M: 14.21%
• 1Y: 58.33%
• 3Y*: 31.94%
• 5Y*: 19.66%
• 10Y*: 18.40%

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

DNN vs. NXE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
DNN Denison Mines Corp	22.93%	47.78%	1.69%	53.91%	-16.06%	111.75%	54.05%	-9.48%	-15.64%	6.86%
NXE NexGen Energy Ltd.	13.59%	39.39%	-5.71%	58.01%	1.37%	58.33%	115.63%	-28.09%	-30.47%	48.75%

Correlation

The correlation between DNN and NXE is 0.87, 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	0.87
Correlation (3Y) Calculated over the trailing 3-year period	0.87
Correlation (5Y) Calculated over the trailing 5-year period	0.85
Correlation (10Y) Calculated over the trailing 10-year period	0.68
Correlation (All Time) Calculated using the full available price history since Jan 4, 2016	0.66

Over the past year, DNN and NXE have become more correlated (0.87) than their long-term average of 0.66, meaning their price movements have been converging.

Fundamentals

Market Cap DNN : $2.95B NXE : $6.90B
EPS DNN : -CA$0.28 NXE : -CA$0.69
PB Ratio DNN : 16.05 NXE : 5.75
Total Revenue (TTM) DNN : CA$4.34M NXE : CA$0.00
Gross Profit (TTM) DNN : -CA$12.87M NXE : -CA$992.64K
EBITDA (TTM) DNN : -CA$155.36M NXE : -CA$247.46M

Return for Risk

DNN vs. NXE — Risk / Return Rank

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

DNN

DNN Risk / Return Rank: 79
DNN Sharpe Ratio Rank: 82
DNN Sortino Ratio Rank: 77
DNN Omega Ratio Rank: 74
DNN Calmar Ratio Rank: 80
DNN Martin Ratio Rank: 80

NXE

NXE Risk / Return Rank: 72
NXE Sharpe Ratio Rank: 74
NXE Sortino Ratio Rank: 71
NXE Omega Ratio Rank: 67
NXE Calmar Ratio Rank: 73
NXE Martin Ratio Rank: 76

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. NXE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Denison Mines Corp (DNN) and NexGen Energy Ltd. (NXE). 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	NXE	Difference
Sharpe ratio: Return per unit of total volatility	1.47	1.06	+0.41
Sortino ratio: Return per unit of downside risk	2.08	1.70	+0.38
Omega ratio: Gain probability vs. loss probability	1.25	1.20	+0.05
Calmar ratio: Return relative to maximum drawdown	2.51	1.75	+0.75
Martin ratio: Return relative to average drawdown	6.24	4.89	+1.36

DNN vs. NXE - Sharpe Ratio Comparison

The current DNN Sharpe Ratio is 1.47, which is higher than the NXE Sharpe Ratio of 1.06. The chart below compares the historical Sharpe Ratios of DNN and NXE, 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. NXE - Drawdown Comparison

The maximum DNN drawdown since its inception was -98.96%, which is greater than NXE's maximum drawdown of -82.98%. Use the drawdown chart below to compare losses from any high point for DNN and NXE.

Drawdown Indicators

	DNN	NXE	Difference
Max Drawdown Largest peak-to-trough decline	-98.96%	-82.98%	-15.98%
Max Drawdown (1Y) Largest decline over 1 year	-35.24%	-33.41%	-1.83%
Max Drawdown (3Y) Largest decline over 3 years	-52.48%	-54.28%	+1.80%
Max Drawdown (5Y) Largest decline over 5 years	-55.66%	-54.28%	-1.38%
Max Drawdown (10Y) Largest decline over 10 years	-75.90%	-82.98%	+7.08%
Current Drawdown Current decline from peak	-83.04%	-24.93%	-58.11%
Average Drawdown Average peak-to-trough decline	-85.05%	-28.62%	-56.43%
Ulcer Index Depth and duration of drawdowns from previous peaks	14.13%	11.97%	+2.16%

Volatility

DNN vs. NXE - Volatility Comparison

Denison Mines Corp (DNN) and NexGen Energy Ltd. (NXE) have volatilities of 20.50% and 21.57%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DNN	NXE	Difference
Volatility (1M) Calculated over the trailing 1-month period	20.50%	21.57%	-1.07%
Volatility (6M) Calculated over the trailing 6-month period	46.66%	40.78%	+5.88%
Volatility (1Y) Calculated over the trailing 1-year period	60.39%	55.62%	+4.77%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	63.45%	58.05%	+5.40%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	64.36%	61.56%	+2.80%

Dividends

DNN vs. NXE - Dividend Comparison

Neither DNN nor NXE has paid dividends to shareholders.

Tickers have no history of dividend payments

Financials

Frequently Asked Questions

Can I hold both DNN and NXE in my portfolio?

DNN and NXE have a correlation of 0.87, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DNN or NXE?

NXE has higher volatility (21.57%) compared to DNN (20.50%). In terms of maximum drawdown, DNN dropped -98.96% vs NXE's -82.98%.

Which has better risk-adjusted returns?

DNN currently has the higher Sharpe Ratio (1.47 vs 1.06), 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.