NAK vs. EWZ
NAK (Northern Dynasty Minerals Ltd.) is a stock, while EWZ (iShares MSCI Brazil ETF) is Latin America Equities fund tracking the MSCI Brazil 25/50 Index. Over the past 10 years, NAK returned 20.01%/yr vs 8.29%/yr for EWZ. At a 0.27 correlation, their price movements are largely independent.
Performance
NAK vs. EWZ - Performance Comparison
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Returns By Period
In the year-to-date period, NAK achieves a 3.55% return, which is significantly lower than EWZ's 10.48% return. Over the past 10 years, NAK has outperformed EWZ with an annualized return of 20.01%, while EWZ has yielded a comparatively lower 8.29% annualized return.
NAK
- 1D
- 4.62%
- 1M
- -9.33%
- YTD
- 3.55%
- 6M
- -5.12%
- 1Y
- 65.85%
- 3Y*
- 109.20%
- 5Y*
- 29.51%
- 10Y*
- 20.01%
EWZ
- 1D
- 0.83%
- 1M
- -4.57%
- YTD
- 10.48%
- 6M
- 9.03%
- 1Y
- 31.47%
- 3Y*
- 9.47%
- 5Y*
- 4.96%
- 10Y*
- 8.29%
NAK vs. EWZ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
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% |
EWZ iShares MSCI Brazil ETF | 10.48% | 48.81% | -30.41% | 32.62% | 12.09% | -17.32% | -20.35% | 27.67% | -2.52% | 23.62% |
Correlation
The correlation between NAK and EWZ is 0.29, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.29 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.23 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.21 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.17 |
Correlation (All Time) Calculated using the full available price history since Oct 9, 2003 | 0.27 |
The correlation between NAK and EWZ shifts across timeframes, from 0.17 (10 years) to 0.29 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
NAK vs. EWZ — Risk / Return Rank
NAK
EWZ
NAK vs. EWZ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Northern Dynasty Minerals Ltd. (NAK) and iShares MSCI Brazil ETF (EWZ). 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.
| NAK | EWZ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.68 | ||
| Sortino ratioReturn per unit of downside risk | -0.26 | ||
| Omega ratioGain probability vs. loss probability | 1.22 | 1.22 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 0.98 | 1.64 | -0.66 |
| Martin ratioReturn relative to average drawdown | 1.67 | 5.17 | -3.50 |
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Drawdowns
NAK vs. EWZ - Drawdown Comparison
The maximum NAK drawdown since its inception was -99.01%, which is greater than EWZ's maximum drawdown of -77.25%. Use the drawdown chart below to compare losses from any high point for NAK and EWZ.
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Drawdown Indicators
| NAK | EWZ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.01% | -77.25% | -21.76% |
Max Drawdown (1Y)Largest decline over 1 year | -67.68% | -19.27% | -48.41% |
Max Drawdown (3Y)Largest decline over 3 years | -67.68% | -31.36% | -36.32% |
Max Drawdown (5Y)Largest decline over 5 years | -67.68% | -32.24% | -35.44% |
Max Drawdown (10Y)Largest decline over 10 years | -93.79% | -56.99% | -36.80% |
Current DrawdownCurrent decline from peak | -90.32% | -23.06% | -67.26% |
Average DrawdownAverage peak-to-trough decline | -73.93% | -35.93% | -38.00% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 39.60% | 6.10% | +33.50% |
Volatility
NAK vs. EWZ - Volatility Comparison
Northern Dynasty Minerals Ltd. (NAK) has a higher volatility of 26.03% compared to iShares MSCI Brazil ETF (EWZ) at 7.35%. This indicates that NAK's price experiences larger fluctuations and is considered to be riskier than EWZ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| NAK | EWZ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 26.03% | 7.35% | +18.68% |
Volatility (6M)Calculated over the trailing 6-month period | 77.41% | 19.97% | +57.44% |
Volatility (1Y)Calculated over the trailing 1-year period | 115.33% | 25.20% | +90.13% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 83.81% | 27.70% | +56.11% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 97.90% | 34.04% | +63.86% |
Dividends
NAK vs. EWZ - Dividend Comparison
NAK has not paid dividends to shareholders, while EWZ's dividend yield for the trailing twelve months is around 4.70%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EWZ iShares MSCI Brazil ETF | 4.70% | 5.19% | 8.91% | 5.66% | 12.59% | 9.87% | 1.71% | 2.54% | 2.89% | 1.71% | 1.81% | 4.08% |
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% |
Frequently Asked Questions
NAK and EWZ have a correlation of 0.29, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
NAK has higher volatility (26.03%) compared to EWZ (7.35%). In terms of maximum drawdown, NAK dropped -99.01% vs EWZ's -77.25%.
EWZ currently has the higher Sharpe Ratio (1.25 vs 0.57), 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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