NG vs. BRK-B

Last updated Jun 3, 2026

NG (NovaGold Resources Inc.) and BRK-B (Berkshire Hathaway Inc.) are both stocks. NG operates in Gold (Basic Materials), while BRK-B operates in Insurance - Diversified (Financial Services). Over the past 10 years, NG returned 3.61%/yr vs 12.82%/yr for BRK-B. At a 0.07 correlation, their price movements are largely independent.

Performance

NG vs. BRK-B - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in NovaGold Resources Inc. (NG) and Berkshire Hathaway Inc. (BRK-B). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, NG achieves a -10.09% return, which is significantly lower than BRK-B's -6.20% return. Over the past 10 years, NG has underperformed BRK-B with an annualized return of 3.61%, while BRK-B has yielded a comparatively higher 12.82% annualized return.

NG

• 1D: 0.60%
• 1M: 4.10%
• YTD: -10.09%
• 6M: -15.52%
• 1Y: 123.47%
• 3Y*: 17.17%
• 5Y*: -3.78%
• 10Y*: 3.61%

BRK-B

• 1D: 0.26%
• 1M: -0.32%
• YTD: -6.20%
• 6M: -6.94%
• 1Y: -6.23%
• 3Y*: 12.69%
• 5Y*: 10.06%
• 10Y*: 12.82%

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

NG vs. BRK-B - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
NG NovaGold Resources Inc.	-10.09%	179.88%	-10.96%	-37.46%	-12.83%	-29.06%	7.92%	126.84%	0.51%	-13.82%
BRK-B Berkshire Hathaway Inc.	-6.20%	10.89%	27.09%	15.46%	3.31%	28.95%	2.37%	10.93%	3.01%	21.62%

Correlation

The correlation between NG and BRK-B is 0.04, 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	0.04
Correlation (3Y) Calculated over the trailing 3-year period	0.07
Correlation (5Y) Calculated over the trailing 5-year period	0.15
Correlation (10Y) Calculated over the trailing 10-year period	0.04
Correlation (All Time) Calculated using the full available price history since Dec 5, 2003	0.07

The correlation between NG and BRK-B shifts across timeframes, from 0.04 (1 year) to 0.15 (5 years), reflecting how their relationship changes across market environments.

Fundamentals

Market Cap NG : $3.48B BRK-B : $1.02T
EPS NG : -$0.25 BRK-B : $33.62
Total Revenue (TTM) NG : $0.00 BRK-B : $375.39B
Gross Profit (TTM) NG : -$19.45K BRK-B : $94.36B
EBITDA (TTM) NG : -$56.72M BRK-B : $71.92B

Return for Risk

NG vs. BRK-B — Risk / Return Rank

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

NG

NG Risk / Return Rank: 80
NG Sharpe Ratio Rank: 83
NG Sortino Ratio Rank: 78
NG Omega Ratio Rank: 78
NG Calmar Ratio Rank: 82
NG Martin Ratio Rank: 79

BRK-B

BRK-B Risk / Return Rank: 17
BRK-B Sharpe Ratio Rank: 21
BRK-B Sortino Ratio Rank: 19
BRK-B Omega Ratio Rank: 19
BRK-B Calmar Ratio Rank: 15
BRK-B Martin Ratio Rank: 8

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.

NG vs. BRK-B - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for NovaGold Resources Inc. (NG) and Berkshire Hathaway Inc. (BRK-B). 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.

	NG	BRK-B	Difference
Sharpe ratio Return per unit of total volatility	1.62	-0.44	+2.06
Sortino ratio Return per unit of downside risk	2.22	-0.51	+2.73
Omega ratio Gain probability vs. loss probability	1.29	0.94	+0.35
Calmar ratio Return relative to maximum drawdown	2.94	-0.68	+3.63
Martin ratio Return relative to average drawdown	6.50	-1.36	+7.86
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

NG vs. BRK-B - Sharpe Ratio Comparison

The current NG Sharpe Ratio is 1.62, which is higher than the BRK-B Sharpe Ratio of -0.44. The chart below compares the historical Sharpe Ratios of NG and BRK-B, 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

	NG	BRK-B	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.62	-0.44	+2.06
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.06	0.59	-0.65
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.06	0.66	-0.60
Sharpe Ratio (All Time) Calculated using the full available price history	0.05	0.48	-0.43

Drawdowns

NG vs. BRK-B - Drawdown Comparison

The maximum NG drawdown since its inception was -97.85%, which is greater than BRK-B's maximum drawdown of -53.86%. Use the drawdown chart below to compare losses from any high point for NG and BRK-B.

Drawdown Indicators

	NG	BRK-B	Difference
Max Drawdown Largest peak-to-trough decline	-97.85%	-53.86%	-43.99%
Max Drawdown (1Y) Largest decline over 1 year	-45.56%	-9.42%	-36.14%
Max Drawdown (3Y) Largest decline over 3 years	-57.38%	-14.95%	-42.43%
Max Drawdown (5Y) Largest decline over 5 years	-77.69%	-26.58%	-51.11%
Max Drawdown (10Y) Largest decline over 10 years	-81.22%	-29.57%	-51.65%
Current Drawdown Current decline from peak	-50.95%	-12.65%	-38.30%
Average Drawdown Average peak-to-trough decline	-58.04%	-11.07%	-46.97%
Ulcer Index Depth and duration of drawdowns from previous peaks	20.62%	4.73%	+15.89%

Volatility

NG vs. BRK-B - Volatility Comparison

NovaGold Resources Inc. (NG) has a higher volatility of 21.51% compared to Berkshire Hathaway Inc. (BRK-B) at 3.79%. This indicates that NG's price experiences larger fluctuations and is considered to be riskier than BRK-B based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NG	BRK-B	Difference
Volatility (1M) Calculated over the trailing 1-month period	21.51%	3.79%	+17.72%
Volatility (6M) Calculated over the trailing 6-month period	59.38%	10.68%	+48.70%
Volatility (1Y) Calculated over the trailing 1-year period	76.73%	14.31%	+62.42%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	59.42%	17.11%	+42.31%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	55.81%	19.43%	+36.38%

Dividends

NG vs. BRK-B - Dividend Comparison

Neither NG nor BRK-B has paid dividends to shareholders.

Tickers have no history of dividend payments

Financials

Frequently Asked Questions

Can I hold both NG and BRK-B in my portfolio?

NG and BRK-B have a correlation of 0.04, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, NG or BRK-B?

NG has higher volatility (21.51%) compared to BRK-B (3.79%). In terms of maximum drawdown, NG dropped -97.85% vs BRK-B's -53.86%.

Which has better risk-adjusted returns?

NG currently has the higher Sharpe Ratio (1.62 vs -0.44), 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.