NEM vs. TFPM

Last updated Jul 11, 2026

NEM (Newmont Corporation) and TFPM (Triple Flag Precious Metals Corp) are both stocks. Both are in the Basic Materials sector — NEM in Gold, TFPM in Other Precious Metals & Mining. Over the past 3 years, NEM returned 32.96%/yr vs 29.68%/yr for TFPM. A 0.54 correlation means they provide meaningful diversification when combined.

Performance

NEM vs. TFPM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Newmont Corporation (NEM) and Triple Flag Precious Metals Corp (TFPM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, NEM achieves a -4.15% return, which is significantly higher than TFPM's -15.14% return.

NEM

• 1D: 0.51%
• 1M: -2.36%
• 6M: -12.19%
• YTD: -4.15%
• 1Y: 60.16%
• 3Y*: 32.96%
• 5Y*: 11.48%
• 10Y*: 11.79%

TFPM

• 1D: -1.44%
• 1M: 0.36%
• 6M: -19.69%
• YTD: -15.14%
• 1Y: 19.91%
• 3Y*: 29.68%
• 5Y*: —
• 10Y*: —

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

NEM vs. TFPM - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
NEM Newmont Corporation	-4.15%	172.82%	-7.83%	-8.76%	-20.77%	16.61%
TFPM Triple Flag Precious Metals Corp	-15.14%	123.03%	14.60%	-1.81%	14.71%	32.61%

Correlation

The correlation between NEM and TFPM 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	0.69
Correlation (All Time) Calculated using the full available price history since Sep 30, 2021	0.54

Over the past year, NEM and TFPM have become more correlated (0.79) than their long-term average of 0.54, meaning their price movements have been converging.

Fundamentals

Market Cap NEM : $101.73B TFPM : $5.81B
EPS NEM : $7.15 TFPM : $1.50
PE Ratio NEM : 13.33 TFPM : 18.71
PEG Ratio NEM : 0.35 TFPM : 0.14
PS Ratio NEM : 4.07 TFPM : 12.84
Total Revenue (TTM) NEM : $17.23B TFPM : $453.24M
Gross Profit (TTM) NEM : $8.97B TFPM : $337.23M
EBITDA (TTM) NEM : $13.78B TFPM : $354.95M

Return for Risk

NEM vs. TFPM — Risk / Return Rank

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

NEM

NEM Risk / Return Rank: 78
NEM Sharpe Ratio Rank: 82
NEM Sortino Ratio Rank: 74
NEM Omega Ratio Rank: 76
NEM Calmar Ratio Rank: 80
NEM Martin Ratio Rank: 79

TFPM

TFPM Risk / Return Rank: 59
TFPM Sharpe Ratio Rank: 62
TFPM Sortino Ratio Rank: 57
TFPM Omega Ratio Rank: 56
TFPM Calmar Ratio Rank: 60
TFPM Martin Ratio Rank: 61

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. TFPM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Newmont Corporation (NEM) and Triple Flag Precious Metals Corp (TFPM). 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	TFPM	Difference
Sharpe ratio: Return per unit of total volatility	1.29	0.49	+0.80
Sortino ratio: Return per unit of downside risk	1.72	0.91	+0.81
Omega ratio: Gain probability vs. loss probability	1.23	1.12	+0.12
Calmar ratio: Return relative to maximum drawdown	2.09	0.62	+1.47
Martin ratio: Return relative to average drawdown	4.81	1.52	+3.29

NEM vs. TFPM - Sharpe Ratio Comparison

The current NEM Sharpe Ratio is 1.29, which is higher than the TFPM Sharpe Ratio of 0.49. The chart below compares the historical Sharpe Ratios of NEM and TFPM, 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. TFPM - Drawdown Comparison

The maximum NEM drawdown since its inception was -81.30%, which is greater than TFPM's maximum drawdown of -36.48%. Use the drawdown chart below to compare losses from any high point for NEM and TFPM.

Drawdown Indicators

	NEM	TFPM	Difference
Max Drawdown Largest peak-to-trough decline	-81.30%	-36.48%	-44.82%
Max Drawdown (1Y) Largest decline over 1 year	-29.39%	-34.87%	+5.48%
Max Drawdown (3Y) Largest decline over 3 years	-36.57%	-34.87%	-1.70%
Max Drawdown (5Y) Largest decline over 5 years	-62.40%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-62.40%	—	—
Current Drawdown Current decline from peak	-27.47%	-31.84%	+4.37%
Average Drawdown Average peak-to-trough decline	-41.34%	-13.65%	-27.69%
Ulcer Index Depth and duration of drawdowns from previous peaks	12.73%	14.19%	-1.46%

Volatility

NEM vs. TFPM - Volatility Comparison

The current volatility for Newmont Corporation (NEM) is 14.14%, while Triple Flag Precious Metals Corp (TFPM) has a volatility of 15.53%. This indicates that NEM experiences smaller price fluctuations and is considered to be less risky than TFPM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NEM	TFPM	Difference
Volatility (1M) Calculated over the trailing 1-month period	14.14%	15.53%	-1.39%
Volatility (6M) Calculated over the trailing 6-month period	37.29%	35.31%	+1.98%
Volatility (1Y) Calculated over the trailing 1-year period	47.74%	44.54%	+3.20%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	38.15%	37.68%	+0.47%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	35.73%	37.68%	-1.95%

Dividends

NEM vs. TFPM - Dividend Comparison

NEM's dividend yield for the trailing twelve months is around 1.07%, more than TFPM's 0.82% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
NEM Newmont Corporation	1.07%	1.00%	2.69%	3.87%	4.66%	3.55%	1.74%	3.31%	1.62%	0.67%	0.37%	0.56%
TFPM Triple Flag Precious Metals Corp	0.82%	0.68%	1.43%	1.54%	1.07%	0.39%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Financials

Frequently Asked Questions

Can I hold both NEM and TFPM in my portfolio?

NEM and TFPM 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.

Which is riskier, NEM or TFPM?

TFPM has higher volatility (15.53%) compared to NEM (14.14%). In terms of maximum drawdown, NEM dropped -81.30% vs TFPM's -36.48%.

Which has better risk-adjusted returns?

NEM currently has the higher Sharpe Ratio (1.29 vs 0.49), 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.