EQX vs. AEM
EQX (Equinox Gold Corp.) and AEM (Agnico Eagle Mines Limited) are both stocks. Both operate in the Gold industry within the Basic Materials sector. Over the past 5 years, EQX returned 7.37%/yr vs 24.66%/yr for AEM. A 0.69 correlation means they provide meaningful diversification when combined.
Performance
EQX vs. AEM - Performance Comparison
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Returns By Period
In the year-to-date period, EQX achieves a -26.84% return, which is significantly lower than AEM's -1.16% return.
EQX
- 1D
- -2.47%
- 1M
- -15.50%
- YTD
- -26.84%
- 6M
- -31.06%
- 1Y
- 70.92%
- 3Y*
- 30.71%
- 5Y*
- 7.37%
- 10Y*
- —
AEM
- 1D
- 0.11%
- 1M
- -4.92%
- YTD
- -1.16%
- 6M
- -6.98%
- 1Y
- 39.16%
- 3Y*
- 53.19%
- 5Y*
- 24.66%
- 10Y*
- 14.52%
EQX vs. AEM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
EQX Equinox Gold Corp. | -26.84% | 179.68% | 2.66% | 49.09% | -51.48% | -34.62% | 34.29% | 106.43% | -4.97% |
AEM Agnico Eagle Mines Limited | -1.16% | 119.53% | 46.04% | 8.98% | 1.08% | -22.81% | 17.39% | 54.18% | -1.57% |
Correlation
The correlation between EQX and AEM is 0.78, 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 | 0.78 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.77 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.77 |
Correlation (All Time) Calculated using the full available price history since Aug 3, 2018 | 0.69 |
The correlation between EQX and AEM has been stable across timeframes, ranging from 0.69 to 0.78 - a consistent structural relationship.
Fundamentals
EQX:
$8.46B
AEM:
$83.71B
EQX:
$0.89
AEM:
$10.60
EQX:
11.51
AEM:
15.75
EQX:
0.02
AEM:
0.25
EQX:
3.07
AEM:
6.22
EQX:
1.38
AEM:
3.19
EQX:
$2.29B
AEM:
$13.51B
EQX:
$866.94M
AEM:
$8.28B
EQX:
$1.22B
AEM:
$9.72B
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Return for Risk
EQX vs. AEM — Risk / Return Rank
EQX
AEM
EQX vs. AEM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Equinox Gold Corp. (EQX) and Agnico Eagle Mines Limited (AEM). 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.
| EQX | AEM | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.28 | ||
| Sortino ratioReturn per unit of downside risk | +0.43 | ||
| Omega ratioGain probability vs. loss probability | 1.22 | 1.18 | +0.04 |
| Calmar ratioReturn relative to maximum drawdown | 1.48 | 1.00 | +0.49 |
| Martin ratioReturn relative to average drawdown | 4.23 | 2.69 | +1.54 |
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Drawdowns
EQX vs. AEM - Drawdown Comparison
The maximum EQX drawdown since its inception was -81.06%, smaller than the maximum AEM drawdown of -90.49%. Use the drawdown chart below to compare losses from any high point for EQX and AEM.
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Drawdown Indicators
| EQX | AEM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -81.06% | -90.49% | +9.43% |
Max Drawdown (1Y)Largest decline over 1 year | -48.02% | -39.39% | -8.63% |
Max Drawdown (3Y)Largest decline over 3 years | -48.02% | -39.39% | -8.63% |
Max Drawdown (5Y)Largest decline over 5 years | -71.57% | -41.97% | -29.60% |
Max Drawdown (10Y)Largest decline over 10 years | — | -53.86% | — |
Current DrawdownCurrent decline from peak | -45.25% | -33.68% | -11.57% |
Average DrawdownAverage peak-to-trough decline | -38.13% | -46.64% | +8.51% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 16.83% | 14.62% | +2.21% |
Volatility
EQX vs. AEM - Volatility Comparison
Equinox Gold Corp. (EQX) has a higher volatility of 21.68% compared to Agnico Eagle Mines Limited (AEM) at 15.34%. This indicates that EQX's price experiences larger fluctuations and is considered to be riskier than AEM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EQX | AEM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 21.68% | 15.34% | +6.34% |
Volatility (6M)Calculated over the trailing 6-month period | 49.02% | 36.50% | +12.52% |
Volatility (1Y)Calculated over the trailing 1-year period | 61.16% | 44.59% | +16.57% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 57.71% | 37.08% | +20.63% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 55.59% | 37.41% | +18.18% |
Dividends
EQX vs. AEM - Dividend Comparison
EQX's dividend yield for the trailing twelve months is around 0.29%, less than AEM's 1.02% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
AEM Agnico Eagle Mines Limited | 1.02% | 0.94% | 2.05% | 2.92% | 3.08% | 2.63% | 2.36% | 0.89% | 1.09% | 0.89% | 0.86% | 1.22% |
EQX Equinox Gold Corp. | 0.29% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Financials
EQX vs. AEM - Financials Comparison
This section allows you to compare key financial metrics between Equinox Gold Corp. and Agnico Eagle Mines Limited. You can select fields from income statements, balance sheets, and cash flow statements to easily visualize and compare the financial health of both companies.
Total Revenue: Total amount of money received from sales and other business activities
EQX vs. AEM - Profitability Comparison
EQX - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Equinox Gold Corp. reported a gross profit of 438.50M and revenue of 861.59M. Therefore, the gross margin over that period was 50.9%.
AEM - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Agnico Eagle Mines Limited reported a gross profit of 2.72B and revenue of 4.10B. Therefore, the gross margin over that period was 66.4%.
EQX - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Equinox Gold Corp. reported an operating income of 390.23M and revenue of 861.59M, resulting in an operating margin of 45.3%.
AEM - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Agnico Eagle Mines Limited reported an operating income of 2.56B and revenue of 4.10B, resulting in an operating margin of 62.4%.
EQX - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Equinox Gold Corp. reported a net income of 310.11M and revenue of 861.59M, resulting in a net margin of 36.0%.
AEM - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Agnico Eagle Mines Limited reported a net income of 1.70B and revenue of 4.10B, resulting in a net margin of 41.4%.
Frequently Asked Questions
EQX and AEM have a correlation of 0.78, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
EQX has higher volatility (21.68%) compared to AEM (15.34%). In terms of maximum drawdown, EQX dropped -81.06% vs AEM's -90.49%.
EQX currently has the higher Sharpe Ratio (1.17 vs 0.88), 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.
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