NDM.TO vs. ANRG.TO

Last updated Jun 4, 2026

NDM.TO (Northern Dynasty Minerals Ltd.) and ANRG.TO (Anaergia Inc.) are both stocks. NDM.TO operates in Other Industrial Metals & Mining (Basic Materials), while ANRG.TO operates in Waste Management (Industrials). Over the past 3 years, NDM.TO returned 118.05%/yr vs 52.29%/yr for ANRG.TO. At a 0.08 correlation, their price movements are largely independent.

Performance

NDM.TO vs. ANRG.TO - Performance Comparison

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

Returns By Period

In the year-to-date period, NDM.TO achieves a 15.19% return, which is significantly lower than ANRG.TO's 23.45% return.

NDM.TO

• 1D: -5.47%
• 1M: 10.28%
• YTD: 15.19%
• 6M: 16.92%
• 1Y: 80.81%
• 3Y*: 118.05%
• 5Y*: 35.14%
• 10Y*: 21.60%

ANRG.TO

• 1D: -2.79%
• 1M: -7.92%
• YTD: 23.45%
• 6M: 17.72%
• 1Y: 119.69%
• 3Y*: 52.29%
• 5Y*: —
• 10Y*: —

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

NDM.TO vs. ANRG.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
NDM.TO Northern Dynasty Minerals Ltd.	15.19%	225.30%	93.02%	43.33%	-26.83%	-35.94%
ANRG.TO Anaergia Inc.	23.45%	140.43%	276.00%	-94.24%	-78.51%	45.01%

Correlation

The correlation between NDM.TO and ANRG.TO is 0.10, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.10
Correlation (3Y) Calculated over the trailing 3-year period	0.08
Correlation (All Time) Calculated using the full available price history since Jun 21, 2021	0.08

Fundamentals

Market Cap NDM.TO : CA$1.88B ANRG.TO : CA$478.22M
EPS NDM.TO : -CA$0.08 ANRG.TO : CA$0.05
Total Revenue (TTM) NDM.TO : CA$0.00 ANRG.TO : CA$210.55M
Gross Profit (TTM) NDM.TO : -CA$96.00K ANRG.TO : CA$45.32M
EBITDA (TTM) NDM.TO : -CA$68.94M ANRG.TO : CA$2.05M

Return for Risk

NDM.TO vs. ANRG.TO — Risk / Return Rank

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

NDM.TO

NDM.TO Risk / Return Rank: 66
NDM.TO Sharpe Ratio Rank: 64
NDM.TO Sortino Ratio Rank: 67
NDM.TO Omega Ratio Rank: 73
NDM.TO Calmar Ratio Rank: 65
NDM.TO Martin Ratio Rank: 61

ANRG.TO

ANRG.TO Risk / Return Rank: 83
ANRG.TO Sharpe Ratio Rank: 87
ANRG.TO Sortino Ratio Rank: 84
ANRG.TO Omega Ratio Rank: 80
ANRG.TO Calmar Ratio Rank: 84
ANRG.TO Martin Ratio Rank: 81

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.

NDM.TO vs. ANRG.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Northern Dynasty Minerals Ltd. (NDM.TO) and Anaergia Inc. (ANRG.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.

	NDM.TO	ANRG.TO	Difference
Sharpe ratio Return per unit of total volatility	0.71	1.89	-1.18
Sortino ratio Return per unit of downside risk	1.60	2.56	-0.96
Omega ratio Gain probability vs. loss probability	1.24	1.30	-0.06
Calmar ratio Return relative to maximum drawdown	1.21	3.28	-2.07
Martin ratio Return relative to average drawdown	2.05	6.80	-4.75
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

NDM.TO vs. ANRG.TO - Sharpe Ratio Comparison

The current NDM.TO Sharpe Ratio is 0.71, which is lower than the ANRG.TO Sharpe Ratio of 1.89. The chart below compares the historical Sharpe Ratios of NDM.TO and ANRG.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.

Sharpe Ratios by Period

	NDM.TO	ANRG.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.71	1.89	-1.18
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.42	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.22	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.08	-0.29	+0.37

Drawdowns

NDM.TO vs. ANRG.TO - Drawdown Comparison

The maximum NDM.TO drawdown since its inception was -98.66%, roughly equal to the maximum ANRG.TO drawdown of -99.17%. Use the drawdown chart below to compare losses from any high point for NDM.TO and ANRG.TO.

Drawdown Indicators

	NDM.TO	ANRG.TO	Difference
Max Drawdown Largest peak-to-trough decline	-98.66%	-99.17%	+0.51%
Max Drawdown (1Y) Largest decline over 1 year	-66.88%	-36.66%	-30.22%
Max Drawdown (3Y) Largest decline over 3 years	-66.88%	-88.38%	+21.50%
Max Drawdown (5Y) Largest decline over 5 years	-66.88%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-93.65%	—	—
Current Drawdown Current decline from peak	-85.11%	-89.25%	+4.14%
Average Drawdown Average peak-to-trough decline	-71.47%	-79.18%	+7.71%
Ulcer Index Depth and duration of drawdowns from previous peaks	39.64%	17.68%	+21.96%

Volatility

NDM.TO vs. ANRG.TO - Volatility Comparison

Northern Dynasty Minerals Ltd. (NDM.TO) has a higher volatility of 20.97% compared to Anaergia Inc. (ANRG.TO) at 15.69%. This indicates that NDM.TO's price experiences larger fluctuations and is considered to be riskier than ANRG.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NDM.TO	ANRG.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	20.97%	15.69%	+5.28%
Volatility (6M) Calculated over the trailing 6-month period	75.30%	43.69%	+31.61%
Volatility (1Y) Calculated over the trailing 1-year period	114.90%	63.99%	+50.91%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	83.43%	94.69%	-11.26%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	97.78%	94.69%	+3.09%

Dividends

NDM.TO vs. ANRG.TO - Dividend Comparison

Neither NDM.TO nor ANRG.TO has paid dividends to shareholders.

Tickers have no history of dividend payments

Financials

Frequently Asked Questions

Can I hold both NDM.TO and ANRG.TO in my portfolio?

NDM.TO and ANRG.TO have a correlation of 0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.