MUX vs. NAK
MUX (McEwen Mining Inc.) and NAK (Northern Dynasty Minerals Ltd.) are both stocks. Both are in the Basic Materials sector — MUX in Other Precious Metals & Mining, NAK in Other Industrial Metals & Mining. Over the past 10 years, MUX returned -6.07%/yr vs 21.11%/yr for NAK. At a 0.30 correlation, their price movements are largely independent.
Performance
MUX vs. NAK - Performance Comparison
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Returns By Period
In the year-to-date period, MUX achieves a 3.03% return, which is significantly lower than NAK's 3.55% return. Over the past 10 years, MUX has underperformed NAK with an annualized return of -6.07%, while NAK has yielded a comparatively higher 21.11% annualized return.
MUX
- 1D
- -1.60%
- 1M
- -9.79%
- YTD
- 3.03%
- 6M
- -2.95%
- 1Y
- 110.72%
- 3Y*
- 39.33%
- 5Y*
- 5.78%
- 10Y*
- -6.07%
NAK
- 1D
- -2.86%
- 1M
- -1.45%
- YTD
- 3.55%
- 6M
- -12.07%
- 1Y
- 53.38%
- 3Y*
- 110.57%
- 5Y*
- 32.37%
- 10Y*
- 21.11%
MUX vs. NAK - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MUX McEwen Mining Inc. | 3.03% | 137.92% | 7.91% | 23.04% | -33.90% | -10.00% | -22.44% | -30.01% | -19.78% | -21.37% |
NAK Northern Dynasty Minerals Ltd. | 3.55% | 238.78% | 79.86% | 46.42% | -32.31% | 1.30% | -25.12% | -24.46% | -67.84% | -14.49% |
Correlation
The correlation between MUX and NAK is 0.44, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.44 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.33 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.32 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.27 |
Correlation (All Time) Calculated using the full available price history since Oct 9, 2003 | 0.30 |
The correlation between MUX and NAK shifts across timeframes, from 0.27 (10 years) to 0.44 (1 year), reflecting how their relationship changes across market environments.
Fundamentals
MUX:
$1.38B
NAK:
$1.12B
MUX:
$1.26
NAK:
-CA$0.19
MUX:
2.12
NAK:
89.69
MUX:
$161.86M
NAK:
CA$0.00
MUX:
$53.23M
NAK:
-CA$85.85K
MUX:
$52.58M
NAK:
-CA$99.80M
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Return for Risk
MUX vs. NAK — Risk / Return Rank
MUX
NAK
MUX vs. NAK - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for McEwen Mining Inc. (MUX) and Northern Dynasty Minerals Ltd. (NAK). 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.
| MUX | NAK | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.16 | ||
| Sortino ratioReturn per unit of downside risk | +0.74 | ||
| Omega ratioGain probability vs. loss probability | 1.28 | 1.21 | +0.07 |
| Calmar ratioReturn relative to maximum drawdown | 2.75 | 0.79 | +1.96 |
| Martin ratioReturn relative to average drawdown | 6.38 | 1.35 | +5.03 |
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Drawdowns
MUX vs. NAK - Drawdown Comparison
The maximum MUX drawdown since its inception was -99.67%, roughly equal to the maximum NAK drawdown of -99.01%. Use the drawdown chart below to compare losses from any high point for MUX and NAK.
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Drawdown Indicators
| MUX | NAK | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.67% | -99.01% | -0.66% |
Max Drawdown (1Y)Largest decline over 1 year | -40.48% | -67.68% | +27.20% |
Max Drawdown (3Y)Largest decline over 3 years | -46.49% | -67.68% | +21.19% |
Max Drawdown (5Y)Largest decline over 5 years | -80.47% | -67.68% | -12.79% |
Max Drawdown (10Y)Largest decline over 10 years | -93.89% | -93.79% | -0.10% |
Current DrawdownCurrent decline from peak | -93.66% | -90.32% | -3.34% |
Average DrawdownAverage peak-to-trough decline | -86.48% | -73.94% | -12.54% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 17.43% | 39.73% | -22.30% |
Volatility
MUX vs. NAK - Volatility Comparison
The current volatility for McEwen Mining Inc. (MUX) is 21.38%, while Northern Dynasty Minerals Ltd. (NAK) has a volatility of 25.20%. This indicates that MUX experiences smaller price fluctuations and is considered to be less risky than NAK based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MUX | NAK | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 21.38% | 25.20% | -3.82% |
Volatility (6M)Calculated over the trailing 6-month period | 51.06% | 77.34% | -26.28% |
Volatility (1Y)Calculated over the trailing 1-year period | 68.43% | 115.41% | -46.98% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 63.42% | 83.94% | -20.52% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 63.89% | 97.98% | -34.09% |
Dividends
MUX vs. NAK - Dividend Comparison
Neither MUX nor NAK has paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MUX McEwen Mining Inc. | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.39% | 0.55% | 0.44% | 0.34% | 0.47% |
NAK Northern Dynasty 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
MUX vs. NAK - Financials Comparison
This section allows you to compare key financial metrics between McEwen Mining Inc. and Northern Dynasty Minerals Ltd.. 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
Frequently Asked Questions
MUX and NAK have a correlation of 0.44, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
NAK has higher volatility (25.20%) compared to MUX (21.38%). In terms of maximum drawdown, MUX dropped -99.67% vs NAK's -99.01%.
MUX currently has the higher Sharpe Ratio (1.63 vs 0.47), 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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