FSLR vs. NGD.TO

Last updated Jun 13, 2026

FSLR (First Solar, Inc.) and NGD.TO (New Gold Inc.) are both stocks. FSLR operates in Solar (Technology), while NGD.TO operates in Gold (Basic Materials). At a 0.16 correlation, their price movements are largely independent.

Performance

FSLR vs. NGD.TO - Performance Comparison

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

Different Trading Currencies

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

Returns By Period

FSLR

• 1D: -1.42%
• 1M: 15.41%
• YTD: 2.33%
• 6M: 4.91%
• 1Y: 52.57%
• 3Y*: 10.90%
• 5Y*: 27.42%
• 10Y*: 18.76%

NGD.TO

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

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

FSLR vs. NGD.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FSLR First Solar, Inc.	2.33%	48.22%	2.30%	15.01%	71.86%	-11.89%	76.77%	31.81%	-37.12%	110.41%
NGD.TO New Gold Inc.	1.41%	249.08%	72.38%	47.88%	-33.82%	-32.47%	149.40%	14.23%	-76.55%	-5.95%

Correlation

The correlation between FSLR and NGD.TO is 0.14, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.14
Correlation (3Y) Calculated over the trailing 3-year period	0.17
Correlation (5Y) Calculated over the trailing 5-year period	0.16
Correlation (10Y) Calculated over the trailing 10-year period	0.12
Correlation (All Time) Calculated using the full available price history since Nov 17, 2006	0.16

Fundamentals

Market Cap FSLR : $28.77B NGD.TO : CA$9.63B
EPS FSLR : $15.48 NGD.TO : $1.09
PE Ratio FSLR : 17.27 NGD.TO : 7.99
PEG Ratio FSLR : 0.41 NGD.TO : 0.01
PS Ratio FSLR : 5.31 NGD.TO : 4.65
PB Ratio FSLR : 2.91 NGD.TO : 3.61
Total Revenue (TTM) FSLR : $5.42B NGD.TO : $1.49B
Gross Profit (TTM) FSLR : $2.26B NGD.TO : $767.09M
EBITDA (TTM) FSLR : $2.15B NGD.TO : $810.05M

Return for Risk

FSLR vs. NGD.TO — Risk / Return Rank

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

FSLR

FSLR Risk / Return Rank: 72
FSLR Sharpe Ratio Rank: 74
FSLR Sortino Ratio Rank: 70
FSLR Omega Ratio Rank: 72
FSLR Calmar Ratio Rank: 74
FSLR Martin Ratio Rank: 71

NGD.TO

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.

FSLR vs. NGD.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Solar, Inc. (FSLR) and New Gold Inc. (NGD.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.

	FSLR	NGD.TO	Difference
Sharpe ratio: Return per unit of total volatility	1.02	—	—
Sortino ratio: Return per unit of downside risk	1.63	—	—
Omega ratio: Gain probability vs. loss probability	1.22	—	—
Calmar ratio: Return relative to maximum drawdown	1.70	—	—
Martin ratio: Return relative to average drawdown	3.57	—	—

Drawdowns

Drawdown Indicators

	FSLR	NGD.TO	Difference
Max Drawdown Largest peak-to-trough decline	-96.22%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-35.10%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-59.97%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-59.97%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-61.26%	—	—
Current Drawdown Current decline from peak	-16.01%	—	—
Average Drawdown Average peak-to-trough decline	-63.20%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	16.63%	—	—

Volatility

Volatility by Period

	FSLR	NGD.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	23.37%	—	—
Volatility (6M) Calculated over the trailing 6-month period	41.98%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	58.23%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	54.07%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	50.84%	—	—

Dividends

FSLR vs. NGD.TO - Dividend Comparison

Neither FSLR nor NGD.TO has paid dividends to shareholders.

Tickers have no history of dividend payments

Financials

Frequently Asked Questions

Can I hold both FSLR and NGD.TO in my portfolio?

FSLR and NGD.TO have a correlation of 0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.