IMO vs. NGEX.TO

Last updated Jun 13, 2026

IMO (Imperial Oil Limited) and NGEX.TO (NGEx Minerals Ltd) are both stocks. IMO operates in Oil & Gas Integrated (Energy), while NGEX.TO operates in Other Industrial Metals & Mining (Basic Materials). Over the past 5 years, IMO returned 32.35%/yr vs 100.50%/yr for NGEX.TO. At a 0.16 correlation, their price movements are largely independent.

Performance

IMO vs. NGEX.TO - Performance Comparison

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

Different Trading Currencies

IMO 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, IMO achieves a 41.99% return, which is significantly higher than NGEX.TO's 1.77% return.

IMO

• 1D: 0.26%
• 1M: -7.42%
• YTD: 41.99%
• 6M: 33.35%
• 1Y: 56.95%
• 3Y*: 37.72%
• 5Y*: 32.35%
• 10Y*: 17.61%

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)

IMO vs. NGEX.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
IMO Imperial Oil Limited	41.99%	43.85%	10.47%	20.89%	38.00%	95.29%	-25.37%	8.00%
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 IMO and NGEX.TO is 0.12, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.12
Correlation (3Y) Calculated over the trailing 3-year period	0.12
Correlation (5Y) Calculated over the trailing 5-year period	0.20
Correlation (All Time) Calculated using the full available price history since Aug 20, 2019	0.16

Fundamentals

Market Cap IMO : $58.80B NGEX.TO : CA$5.77B
EPS IMO : $5.87 NGEX.TO : -CA$0.63
PB Ratio IMO : 2.58 NGEX.TO : 9.07
Total Revenue (TTM) IMO : $46.55B NGEX.TO : CA$0.00
Gross Profit (TTM) IMO : $7.69B NGEX.TO : -CA$36.44K
EBITDA (TTM) IMO : $6.36B NGEX.TO : -CA$134.74M

Return for Risk

IMO vs. NGEX.TO — Risk / Return Rank

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

IMO

IMO Risk / Return Rank: 87
IMO Sharpe Ratio Rank: 90
IMO Sortino Ratio Rank: 86
IMO Omega Ratio Rank: 84
IMO Calmar Ratio Rank: 87
IMO Martin Ratio Rank: 89

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.

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

This table presents a comparison of risk-adjusted performance metrics for Imperial Oil Limited (IMO) 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.

	IMO	NGEX.TO	Difference
Sharpe ratio: Return per unit of total volatility	2.10	1.23	+0.87
Sortino ratio: Return per unit of downside risk	2.67	1.70	+0.97
Omega ratio: Gain probability vs. loss probability	1.33	1.23	+0.09
Calmar ratio: Return relative to maximum drawdown	3.47	2.33	+1.13
Martin ratio: Return relative to average drawdown	10.04	5.79	+4.25

IMO vs. NGEX.TO - Sharpe Ratio Comparison

The current IMO Sharpe Ratio is 2.10, which is higher than the NGEX.TO Sharpe Ratio of 1.23. The chart below compares the historical Sharpe Ratios of IMO 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

IMO vs. NGEX.TO - Drawdown Comparison

The maximum IMO drawdown since its inception was -84.82%, 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 IMO and NGEX.TO.

Drawdown Indicators

	IMO	NGEX.TO	Difference
Max Drawdown Largest peak-to-trough decline	-84.82%	-68.12%	-16.70%
Max Drawdown (1Y) Largest decline over 1 year	-16.51%	-30.80%	+14.29%
Max Drawdown (3Y) Largest decline over 3 years	-22.95%	-30.80%	+7.85%
Max Drawdown (5Y) Largest decline over 5 years	-29.72%	-68.12%	+38.40%
Max Drawdown (10Y) Largest decline over 10 years	-76.96%	—	—
Current Drawdown Current decline from peak	-11.88%	-18.14%	+6.26%
Average Drawdown Average peak-to-trough decline	-21.19%	-19.44%	-1.75%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.69%	12.38%	-6.69%

Volatility

IMO vs. NGEX.TO - Volatility Comparison

The current volatility for Imperial Oil Limited (IMO) is 9.97%, while NGEx Minerals Ltd (NGEX.TO) has a volatility of 26.50%. This indicates that IMO 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

	IMO	NGEX.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.97%	26.50%	-16.53%
Volatility (6M) Calculated over the trailing 6-month period	22.21%	46.12%	-23.91%
Volatility (1Y) Calculated over the trailing 1-year period	27.31%	58.60%	-31.29%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	32.66%	63.39%	-30.73%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	35.55%	72.51%	-36.96%

Dividends

IMO vs. NGEX.TO - Dividend Comparison

IMO's dividend yield for the trailing twelve months is around 1.90%, while NGEX.TO has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IMO Imperial Oil Limited	1.90%	2.40%	2.84%	2.73%	2.30%	2.28%	3.50%	2.41%	2.36%	2.02%	1.70%	1.66%
NGEX.TO NGEx Minerals Ltd	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Financials

Frequently Asked Questions

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

IMO and NGEX.TO have a correlation of 0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.