NIOBW vs. TMC
NIOBW (NioCorp Developments Ltd. Warrant) and TMC (TMC the metals company Inc.) are both stocks. Both operate in the Other Industrial Metals & Mining industry within the Basic Materials sector. Over the past 3 years, NIOBW returned 34.72%/yr vs 109.51%/yr for TMC. At a 0.16 correlation, their price movements are largely independent.
Performance
NIOBW vs. TMC - Performance Comparison
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Returns By Period
In the year-to-date period, NIOBW achieves a -6.99% return, which is significantly lower than TMC's -0.81% return.
NIOBW
- 1D
- -10.37%
- 1M
- -8.95%
- YTD
- -6.99%
- 6M
- -19.16%
- 1Y
- 302.33%
- 3Y*
- 34.72%
- 5Y*
- —
- 10Y*
- —
TMC
- 1D
- -5.70%
- 1M
- 17.92%
- YTD
- -0.81%
- 6M
- -20.73%
- 1Y
- 45.37%
- 3Y*
- 109.51%
- 5Y*
- —
- 10Y*
- —
NIOBW vs. TMC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
NIOBW NioCorp Developments Ltd. Warrant | -6.99% | 1,900.00% | -82.45% | -28.85% |
TMC TMC the metals company Inc. | -0.81% | 450.89% | 1.82% | 28.35% |
Correlation
The correlation between NIOBW and TMC is 0.46, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.46 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.17 |
Correlation (All Time) Calculated using the full available price history since Mar 22, 2023 | 0.16 |
Over the past year, NIOBW and TMC have become more correlated (0.46) than their long-term average of 0.16, meaning their price movements have been converging.
Fundamentals
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Return for Risk
NIOBW vs. TMC — Risk / Return Rank
NIOBW
TMC
NIOBW vs. TMC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for NioCorp Developments Ltd. Warrant (NIOBW) and TMC the metals company Inc. (TMC). 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.
| NIOBW | TMC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.66 | ||
| Sortino ratioReturn per unit of downside risk | +1.34 | ||
| Omega ratioGain probability vs. loss probability | 1.33 | 1.16 | +0.17 |
| Calmar ratioReturn relative to maximum drawdown | 4.22 | 0.74 | +3.48 |
| Martin ratioReturn relative to average drawdown | 6.36 | 1.23 | +5.13 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| NIOBW | TMC | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.10 | 0.44 | +1.66 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.16 | -0.08 | +0.24 |
Drawdowns
NIOBW vs. TMC - Drawdown Comparison
The maximum NIOBW drawdown since its inception was -90.00%, smaller than the maximum TMC drawdown of -95.58%. Use the drawdown chart below to compare losses from any high point for NIOBW and TMC.
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Drawdown Indicators
| NIOBW | TMC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -90.00% | -95.58% | +5.58% |
Max Drawdown (1Y)Largest decline over 1 year | -72.12% | -61.65% | -10.47% |
Max Drawdown (3Y)Largest decline over 3 years | -89.30% | -74.56% | -14.74% |
Current DrawdownCurrent decline from peak | -66.73% | -50.84% | -15.89% |
Average DrawdownAverage peak-to-trough decline | -50.11% | -79.62% | +29.51% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 47.79% | 36.96% | +10.83% |
Volatility
NIOBW vs. TMC - Volatility Comparison
NioCorp Developments Ltd. Warrant (NIOBW) has a higher volatility of 36.63% compared to TMC the metals company Inc. (TMC) at 24.46%. This indicates that NIOBW's price experiences larger fluctuations and is considered to be riskier than TMC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| NIOBW | TMC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 36.63% | 24.46% | +12.17% |
Volatility (6M)Calculated over the trailing 6-month period | 83.52% | 69.15% | +14.37% |
Volatility (1Y)Calculated over the trailing 1-year period | 145.26% | 103.69% | +41.57% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 191.87% | 113.08% | +78.79% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 191.87% | 113.08% | +78.79% |
Dividends
NIOBW vs. TMC - Dividend Comparison
Neither NIOBW nor TMC has paid dividends to shareholders.
Financials
NIOBW vs. TMC - Financials Comparison
This section allows you to compare key financial metrics between NioCorp Developments Ltd. Warrant and TMC the metals company Inc.. You can select fields from income statements, balance sheets, and cash flow statements to easily visualize and compare the financial health of both companies.
Total Revenue: Total amount of money received from sales and other business activities
Frequently Asked Questions
NIOBW and TMC have a correlation of 0.46, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
NIOBW has higher volatility (36.63%) compared to TMC (24.46%). In terms of maximum drawdown, NIOBW dropped -90.00% vs TMC's -95.58%.
NIOBW currently has the higher Sharpe Ratio (2.10 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.
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