NAK vs. TLRY

Last updated Jun 9, 2026

NAK (Northern Dynasty Minerals Ltd.) and TLRY (Tilray, Inc.) are both stocks. NAK operates in Other Industrial Metals & Mining (Basic Materials), while TLRY operates in Drug Manufacturers - Specialty & Generic (Healthcare). Over the past 5 years, NAK returned 28.06%/yr vs -52.78%/yr for TLRY. At a 0.20 correlation, their price movements are largely independent.

Performance

NAK vs. TLRY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Northern Dynasty Minerals Ltd. (NAK) and Tilray, Inc. (TLRY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

NAK

• 1D: 3.14%
• 1M: -8.37%
• YTD: 0.00%
• 6M: -1.99%
• 1Y: 52.71%
• 3Y*: 110.40%
• 5Y*: 28.06%
• 10Y*: 19.65%

TLRY

• 1D: 1.82%
• 1M: -9.53%
• YTD: -44.30%
• 6M: -30.14%
• 1Y: 24.01%
• 3Y*: -31.86%
• 5Y*: -52.78%
• 10Y*: —

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

NAK vs. TLRY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
NAK Northern Dynasty Minerals Ltd.	-0.00%	238.78%	79.86%	46.42%	-32.31%	1.30%	-25.12%	-24.46%	13.84%
TLRY Tilray, Inc.	-44.30%	-32.11%	-42.17%	-14.50%	-61.74%	-14.89%	-51.78%	-75.72%	206.03%

Correlation

The correlation between NAK and TLRY is 0.26, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.26
Correlation (3Y) Calculated over the trailing 3-year period	0.17
Correlation (5Y) Calculated over the trailing 5-year period	0.21
Correlation (All Time) Calculated using the full available price history since Jul 19, 2018	0.20

Fundamentals

EPS NAK : -$0.19 TLRY : -$25.09
Total Revenue (TTM) NAK : $0.00 TLRY : $1.11B
Gross Profit (TTM) NAK : -$85.85K TLRY : $307.02M
EBITDA (TTM) NAK : -$99.80M TLRY : -$1.84B

Return for Risk

NAK vs. TLRY — Risk / Return Rank

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

NAK

NAK Risk / Return Rank: 61
NAK Sharpe Ratio Rank: 58
NAK Sortino Ratio Rank: 65
NAK Omega Ratio Rank: 68
NAK Calmar Ratio Rank: 59
NAK Martin Ratio Rank: 56

TLRY

TLRY Risk / Return Rank: 55
TLRY Sharpe Ratio Rank: 49
TLRY Sortino Ratio Rank: 67
TLRY Omega Ratio Rank: 62
TLRY Calmar Ratio Rank: 50
TLRY Martin Ratio Rank: 48

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.

NAK vs. TLRY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Northern Dynasty Minerals Ltd. (NAK) and Tilray, Inc. (TLRY). 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.

	NAK	TLRY	Difference
Sharpe ratio: Return per unit of total volatility	0.46	0.18	+0.28
Sortino ratio: Return per unit of downside risk	1.39	1.53	-0.14
Omega ratio: Gain probability vs. loss probability	1.20	1.17	+0.04
Calmar ratio: Return relative to maximum drawdown	0.78	0.32	+0.47
Martin ratio: Return relative to average drawdown	1.34	0.48	+0.86
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

NAK vs. TLRY - Sharpe Ratio Comparison

The current NAK Sharpe Ratio is 0.46, which is higher than the TLRY Sharpe Ratio of 0.18. The chart below compares the historical Sharpe Ratios of NAK and TLRY, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	NAK	TLRY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.46	0.18	+0.28
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.34	-0.56	+0.89
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.20	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.01	-0.34	+0.33

Drawdowns

NAK vs. TLRY - Drawdown Comparison

The maximum NAK drawdown since its inception was -99.01%, roughly equal to the maximum TLRY drawdown of -99.83%. Use the drawdown chart below to compare losses from any high point for NAK and TLRY.

Drawdown Indicators

	NAK	TLRY	Difference
Max Drawdown Largest peak-to-trough decline	-99.01%	-99.83%	+0.82%
Max Drawdown (1Y) Largest decline over 1 year	-67.68%	-76.48%	+8.80%
Max Drawdown (3Y) Largest decline over 3 years	-67.68%	-89.12%	+21.44%
Max Drawdown (5Y) Largest decline over 5 years	-67.68%	-98.20%	+30.52%
Max Drawdown (10Y) Largest decline over 10 years	-93.79%	—	—
Current Drawdown Current decline from peak	-90.65%	-99.77%	+9.12%
Average Drawdown Average peak-to-trough decline	-73.92%	-91.42%	+17.50%
Ulcer Index Depth and duration of drawdowns from previous peaks	39.43%	49.70%	-10.27%

Volatility

NAK vs. TLRY - Volatility Comparison

Northern Dynasty Minerals Ltd. (NAK) has a higher volatility of 25.23% compared to Tilray, Inc. (TLRY) at 11.60%. This indicates that NAK's price experiences larger fluctuations and is considered to be riskier than TLRY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NAK	TLRY	Difference
Volatility (1M) Calculated over the trailing 1-month period	25.23%	11.60%	+13.63%
Volatility (6M) Calculated over the trailing 6-month period	77.05%	63.70%	+13.35%
Volatility (1Y) Calculated over the trailing 1-year period	115.40%	131.48%	-16.08%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	83.77%	94.96%	-11.19%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	97.95%	111.98%	-14.03%

Dividends

NAK vs. TLRY - Dividend Comparison

Neither NAK nor TLRY has paid dividends to shareholders.

Tickers have no history of dividend payments

Financials

Frequently Asked Questions

Can I hold both NAK and TLRY in my portfolio?

NAK and TLRY have a correlation of 0.26, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, NAK or TLRY?

NAK has higher volatility (25.23%) compared to TLRY (11.60%). In terms of maximum drawdown, NAK dropped -99.01% vs TLRY's -99.83%.

Which has better risk-adjusted returns?

NAK currently has the higher Sharpe Ratio (0.46 vs 0.18), 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.