MUX.TO vs. ELD.TO
MUX.TO (McEwen Mining Inc.) and ELD.TO (Eldorado Gold Corporation) are both stocks. Both are in the Basic Materials sector — MUX.TO in Other Precious Metals & Mining, ELD.TO in Gold. Over the past 10 years, MUX.TO returned -0.78%/yr vs 3.85%/yr for ELD.TO. A 0.55 correlation means they provide meaningful diversification when combined.
Performance
MUX.TO vs. ELD.TO - Performance Comparison
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Returns By Period
In the year-to-date period, MUX.TO achieves a 13.70% return, which is significantly higher than ELD.TO's -10.72% return. Over the past 10 years, MUX.TO has underperformed ELD.TO with an annualized return of -0.78%, while ELD.TO has yielded a comparatively higher 3.85% annualized return.
MUX.TO
- 1D
- -6.06%
- 1M
- 4.10%
- YTD
- 13.70%
- 6M
- 10.70%
- 1Y
- 134.96%
- 3Y*
- 38.73%
- 5Y*
- 10.73%
- 10Y*
- -0.78%
ELD.TO
- 1D
- -4.69%
- 1M
- 12.31%
- YTD
- -10.72%
- 6M
- 2.64%
- 1Y
- 53.30%
- 3Y*
- 50.31%
- 5Y*
- 25.74%
- 10Y*
- 3.85%
MUX.TO vs. ELD.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MUX.TO McEwen Mining Inc. | 13.70% | 127.91% | 17.31% | 19.72% | -30.18% | -8.80% | -24.70% | -33.60% | -12.39% | -27.07% |
ELD.TO Eldorado Gold Corporation | -10.72% | 130.73% | 24.30% | 52.35% | -4.81% | -29.70% | 61.74% | 160.75% | -56.04% | -57.65% |
Correlation
The correlation between MUX.TO and ELD.TO is 0.68, 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 | 0.68 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.63 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.64 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.57 |
Correlation (All Time) Calculated using the full available price history since Aug 31, 2006 | 0.55 |
The correlation between MUX.TO and ELD.TO shifts across timeframes, from 0.55 (all time) to 0.68 (1 year), reflecting how their relationship changes across market environments.
Fundamentals
MUX.TO:
CA$2.10B
ELD.TO:
CA$8.81B
MUX.TO:
CA$1.24
ELD.TO:
CA$2.83
MUX.TO:
23.34
ELD.TO:
15.52
MUX.TO:
0.68
ELD.TO:
0.06
MUX.TO:
7.33
ELD.TO:
4.46
MUX.TO:
3.23
ELD.TO:
2.04
MUX.TO:
CA$235.72M
ELD.TO:
CA$2.00B
MUX.TO:
CA$47.67M
ELD.TO:
CA$988.83M
MUX.TO:
CA$35.99M
ELD.TO:
CA$1.08B
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Return for Risk
MUX.TO vs. ELD.TO — Risk / Return Rank
MUX.TO
ELD.TO
MUX.TO vs. ELD.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for McEwen Mining Inc. (MUX.TO) and Eldorado Gold Corporation (ELD.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.
| MUX.TO | ELD.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.99 | ||
| Sortino ratioReturn per unit of downside risk | +0.94 | ||
| Omega ratioGain probability vs. loss probability | 1.32 | 1.21 | +0.11 |
| Calmar ratioReturn relative to maximum drawdown | 3.81 | 1.28 | +2.53 |
| Martin ratioReturn relative to average drawdown | 8.72 | 3.17 | +5.55 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| MUX.TO | ELD.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.06 | 1.07 | +0.99 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.18 | 0.59 | -0.42 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.01 | 0.07 | -0.09 |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.07 | 0.05 | -0.12 |
Drawdowns
MUX.TO vs. ELD.TO - Drawdown Comparison
The maximum MUX.TO drawdown since its inception was -95.76%, roughly equal to the maximum ELD.TO drawdown of -97.76%. Use the drawdown chart below to compare losses from any high point for MUX.TO and ELD.TO.
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Drawdown Indicators
| MUX.TO | ELD.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -95.76% | -97.76% | +2.00% |
Max Drawdown (1Y)Largest decline over 1 year | -35.67% | -41.88% | +6.21% |
Max Drawdown (3Y)Largest decline over 3 years | -44.54% | -41.88% | -2.66% |
Max Drawdown (5Y)Largest decline over 5 years | -80.85% | -55.01% | -25.84% |
Max Drawdown (10Y)Largest decline over 10 years | -93.84% | -89.46% | -4.38% |
Current DrawdownCurrent decline from peak | -67.95% | -57.60% | -10.35% |
Average DrawdownAverage peak-to-trough decline | -68.17% | -61.77% | -6.40% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 15.54% | 16.87% | -1.33% |
Volatility
MUX.TO vs. ELD.TO - Volatility Comparison
McEwen Mining Inc. (MUX.TO) has a higher volatility of 20.52% compared to Eldorado Gold Corporation (ELD.TO) at 17.75%. This indicates that MUX.TO's price experiences larger fluctuations and is considered to be riskier than ELD.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MUX.TO | ELD.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 20.52% | 17.75% | +2.77% |
Volatility (6M)Calculated over the trailing 6-month period | 47.47% | 41.12% | +6.35% |
Volatility (1Y)Calculated over the trailing 1-year period | 65.91% | 50.00% | +15.91% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 61.45% | 43.73% | +17.72% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 62.36% | 53.07% | +9.29% |
Dividends
MUX.TO vs. ELD.TO - Dividend Comparison
MUX.TO has not paid dividends to shareholders, while ELD.TO's dividend yield for the trailing twelve months is around 0.47%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ELD.TO Eldorado Gold Corporation | 0.47% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 1.10% | 0.00% | 0.49% |
MUX.TO McEwen Mining Inc. | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.24% | 0.21% | 0.33% | 0.41% |
Financials
MUX.TO vs. ELD.TO - Financials Comparison
This section allows you to compare key financial metrics between McEwen Mining Inc. and Eldorado Gold Corporation. 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
MUX.TO vs. ELD.TO - Profitability Comparison
MUX.TO - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, McEwen Mining Inc. reported a gross profit of 25.08M and revenue of 73.86M. Therefore, the gross margin over that period was 34.0%.
ELD.TO - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Eldorado Gold Corporation reported a gross profit of 290.22M and revenue of 532.43M. Therefore, the gross margin over that period was 54.5%.
MUX.TO - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, McEwen Mining Inc. reported an operating income of 10.88M and revenue of 73.86M, resulting in an operating margin of 14.7%.
ELD.TO - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Eldorado Gold Corporation reported an operating income of 261.43M and revenue of 532.43M, resulting in an operating margin of 49.1%.
MUX.TO - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, McEwen Mining Inc. reported a net income of 33.29M and revenue of 73.86M, resulting in a net margin of 45.1%.
ELD.TO - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Eldorado Gold Corporation reported a net income of 136.38M and revenue of 532.43M, resulting in a net margin of 25.6%.
Frequently Asked Questions
MUX.TO and ELD.TO have a correlation of 0.68, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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