NEM vs. AEM.TO

Last updated Jun 13, 2026

NEM (Newmont Corporation) and AEM.TO (Agnico Eagle Mines Limited) are both stocks. Both operate in the Gold industry within the Basic Materials sector. Over the past 10 years, NEM returned 13.80%/yr vs 14.41%/yr for AEM.TO. A 0.74 correlation means they provide meaningful diversification when combined.

Performance

NEM vs. AEM.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Newmont Corporation (NEM) and Agnico Eagle Mines Limited (AEM.TO). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

NEM is traded in USD, while AEM.TO is traded in CAD. To make them comparable, the AEM.TO values have been converted to USD using the latest available exchange rates.

Returns By Period

In the year-to-date period, NEM achieves a 0.82% return, which is significantly higher than AEM.TO's -3.93% return. Both investments have delivered pretty close results over the past 10 years, with NEM having a 13.80% annualized return and AEM.TO not far ahead at 14.41%.

NEM

• 1D: 2.71%
• 1M: -15.55%
• YTD: 0.82%
• 6M: 2.58%
• 1Y: 81.14%
• 3Y*: 36.14%
• 5Y*: 10.51%
• 10Y*: 13.80%

AEM.TO

• 1D: 3.10%
• 1M: -16.85%
• YTD: -3.93%
• 6M: -2.89%
• 1Y: 35.01%
• 3Y*: 51.11%
• 5Y*: 20.53%
• 10Y*: 14.41%

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

NEM vs. AEM.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
NEM Newmont Corporation	0.82%	172.82%	-7.83%	-8.76%	-20.77%	7.40%	40.28%	30.52%	-6.15%	10.91%
AEM.TO Agnico Eagle Mines Limited	-3.93%	119.66%	46.16%	9.25%	1.57%	-23.52%	16.40%	52.88%	-11.65%	11.09%

Correlation

The correlation between NEM and AEM.TO is 0.79, 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	0.79
Correlation (3Y) Calculated over the trailing 3-year period	0.76
Correlation (5Y) Calculated over the trailing 5-year period	0.76
Correlation (10Y) Calculated over the trailing 10-year period	0.73
Correlation (All Time) Calculated using the full available price history since Jul 12, 2006	0.74

The correlation between NEM and AEM.TO has been stable across timeframes, ranging from 0.73 to 0.79 - a consistent structural relationship.

Fundamentals

EPS NEM : $6.34 AEM.TO : $10.65
PE Ratio NEM : 15.82 AEM.TO : 15.27
PEG Ratio NEM : 0.41 AEM.TO : 0.23
PS Ratio NEM : 4.83 AEM.TO : 6.03
Total Revenue (TTM) NEM : $17.23B AEM.TO : $13.56B
Gross Profit (TTM) NEM : $8.97B AEM.TO : $8.26B
EBITDA (TTM) NEM : $13.78B AEM.TO : $9.54B

Return for Risk

NEM vs. AEM.TO — Risk / Return Rank

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

NEM

NEM Risk / Return Rank: 82
NEM Sharpe Ratio Rank: 86
NEM Sortino Ratio Rank: 78
NEM Omega Ratio Rank: 80
NEM Calmar Ratio Rank: 82
NEM Martin Ratio Rank: 84

AEM.TO

AEM.TO Risk / Return Rank: 66
AEM.TO Sharpe Ratio Rank: 71
AEM.TO Sortino Ratio Rank: 64
AEM.TO Omega Ratio Rank: 65
AEM.TO Calmar Ratio Rank: 63
AEM.TO Martin Ratio Rank: 67

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.

NEM vs. AEM.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Newmont Corporation (NEM) and Agnico Eagle Mines Limited (AEM.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.

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.

	NEM	AEM.TO	Difference
Sharpe ratio: Return per unit of total volatility	1.73	0.80	+0.92
Sortino ratio: Return per unit of downside risk	2.08	1.25	+0.82
Omega ratio: Gain probability vs. loss probability	1.29	1.17	+0.12
Calmar ratio: Return relative to maximum drawdown	2.78	0.89	+1.89
Martin ratio: Return relative to average drawdown	7.58	2.53	+5.06

NEM vs. AEM.TO - Sharpe Ratio Comparison

The current NEM Sharpe Ratio is 1.73, which is higher than the AEM.TO Sharpe Ratio of 0.80. The chart below compares the historical Sharpe Ratios of NEM and AEM.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.

Drawdowns

NEM vs. AEM.TO - Drawdown Comparison

The maximum NEM drawdown since its inception was -81.30%, which is greater than AEM.TO's maximum drawdown of -74.20%. Use the drawdown chart below to compare losses from any high point for NEM and AEM.TO.

Drawdown Indicators

	NEM	AEM.TO	Difference
Max Drawdown Largest peak-to-trough decline	-81.30%	-74.20%	-7.10%
Max Drawdown (1Y) Largest decline over 1 year	-29.39%	-39.50%	+10.11%
Max Drawdown (3Y) Largest decline over 3 years	-36.57%	-39.50%	+2.93%
Max Drawdown (5Y) Largest decline over 5 years	-62.40%	-45.01%	-17.39%
Max Drawdown (10Y) Largest decline over 10 years	-62.40%	-54.30%	-8.10%
Current Drawdown Current decline from peak	-23.71%	-35.39%	+11.68%
Average Drawdown Average peak-to-trough decline	-41.37%	-34.34%	-7.03%
Ulcer Index Depth and duration of drawdowns from previous peaks	10.73%	13.89%	-3.16%

Volatility

NEM vs. AEM.TO - Volatility Comparison

Newmont Corporation (NEM) and Agnico Eagle Mines Limited (AEM.TO) have volatilities of 15.74% and 15.81%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NEM	AEM.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	15.74%	15.81%	-0.07%
Volatility (6M) Calculated over the trailing 6-month period	37.43%	35.50%	+1.93%
Volatility (1Y) Calculated over the trailing 1-year period	47.44%	43.82%	+3.62%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	37.99%	35.76%	+2.23%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	35.67%	36.46%	-0.79%

Dividends

NEM vs. AEM.TO - Dividend Comparison

NEM's dividend yield for the trailing twelve months is around 1.02%, which matches AEM.TO's 1.03% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AEM.TO Agnico Eagle Mines Limited	1.03%	0.97%	1.95%	2.98%	2.81%	2.08%	1.34%	0.81%	0.80%	0.77%	0.75%	0.95%
NEM Newmont Corporation	1.02%	1.00%	2.69%	3.87%	4.66%	3.55%	1.74%	3.31%	1.62%	0.67%	0.37%	0.56%

Financials

Frequently Asked Questions

Can I hold both NEM and AEM.TO in my portfolio?

NEM and AEM.TO have a correlation of 0.79, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.