EQX vs. NGD

Last updated Jun 24, 2026

EQX (Equinox Gold Corp.) and NGD (New Gold Inc.) are both stocks. Both operate in the Gold industry within the Basic Materials sector. A 0.57 correlation means they provide meaningful diversification when combined.

Performance

EQX vs. NGD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Equinox Gold Corp. (EQX) and New Gold Inc. (NGD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

EQX

• 1D: -4.68%
• 1M: -19.46%
• YTD: -30.26%
• 6M: -34.24%
• 1Y: 59.98%
• 3Y*: 28.63%
• 5Y*: 5.99%
• 10Y*: —

NGD

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

EQX vs. NGD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
EQX Equinox Gold Corp.	-30.26%	179.68%	2.66%	49.09%	-51.48%	-34.62%	34.29%	106.43%	-4.97%
NGD New Gold Inc.	4.25%	251.21%	69.86%	48.98%	-34.67%	-31.51%	148.86%	16.28%	-40.41%

Correlation

The correlation between EQX and NGD is 0.55, 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	0.55
Correlation (3Y) Calculated over the trailing 3-year period	0.64
Correlation (5Y) Calculated over the trailing 5-year period	0.64
Correlation (All Time) Calculated using the full available price history since Aug 3, 2018	0.57

The correlation between EQX and NGD has been stable across timeframes, ranging from 0.55 to 0.64 - a consistent structural relationship.

Fundamentals

EPS EQX : $0.89 NGD : $1.61
PE Ratio EQX : 10.97 NGD : 5.64
PEG Ratio EQX : 0.02 NGD : 0.01
PS Ratio EQX : 2.93 NGD : 3.30
Total Revenue (TTM) EQX : $2.29B NGD : $1.46B
Gross Profit (TTM) EQX : $866.94M NGD : $758.26M
EBITDA (TTM) EQX : $1.22B NGD : $1.19B

Return for Risk

EQX vs. NGD — Risk / Return Rank

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

EQX

EQX Risk / Return Rank: 69
EQX Sharpe Ratio Rank: 72
EQX Sortino Ratio Rank: 69
EQX Omega Ratio Rank: 67
EQX Calmar Ratio Rank: 67
EQX Martin Ratio Rank: 70

NGD

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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.

EQX vs. NGD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Equinox Gold Corp. (EQX) and New Gold Inc. (NGD). 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	NGD	Difference
Sharpe ratio: Return per unit of total volatility	0.98	—	—
Sortino ratio: Return per unit of downside risk	1.59	—	—
Omega ratio: Gain probability vs. loss probability	1.20	—	—
Calmar ratio: Return relative to maximum drawdown	1.26	—	—
Martin ratio: Return relative to average drawdown	3.52	—	—

Drawdowns

Drawdown Indicators

	EQX	NGD	Difference
Max Drawdown Largest peak-to-trough decline	-81.06%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-48.02%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-48.02%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-71.57%	—	—
Current Drawdown Current decline from peak	-47.81%	—	—
Average Drawdown Average peak-to-trough decline	-38.14%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	17.10%	—	—

Volatility

Volatility by Period

	EQX	NGD	Difference
Volatility (1M) Calculated over the trailing 1-month period	22.02%	—	—
Volatility (6M) Calculated over the trailing 6-month period	49.23%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	61.24%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	57.68%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	55.60%	—	—

Dividends

EQX vs. NGD - Dividend Comparison

EQX's dividend yield for the trailing twelve months is around 0.31%, while NGD has not paid dividends to shareholders.

Position	TTM
EQX Equinox Gold Corp.	0.31%
NGD New Gold Inc.	0.00%

Financials

Frequently Asked Questions

Can I hold both EQX and NGD in my portfolio?

EQX and NGD have a correlation of 0.55, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.