SSRM vs. NGEX.TO

Last updated Jun 13, 2026

SSRM (SSR Mining Inc.) and NGEX.TO (NGEx Minerals Ltd) are both stocks. Both are in the Basic Materials sector — SSRM in Gold, NGEX.TO in Other Industrial Metals & Mining. Over the past 5 years, SSRM returned 9.84%/yr vs 100.50%/yr for NGEX.TO. At a 0.22 correlation, their price movements are largely independent.

Performance

SSRM vs. NGEX.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SSR Mining Inc. (SSRM) and NGEx Minerals Ltd (NGEX.TO). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

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

Returns By Period

In the year-to-date period, SSRM achieves a 24.22% return, which is significantly higher than NGEX.TO's 1.77% return.

SSRM

• 1D: 3.46%
• 1M: -21.64%
• YTD: 24.22%
• 6M: 22.60%
• 1Y: 119.07%
• 3Y*: 25.15%
• 5Y*: 9.84%
• 10Y*: 9.58%

NGEX.TO

• 1D: 6.56%
• 1M: -12.32%
• YTD: 1.77%
• 6M: 4.46%
• 1Y: 71.50%
• 3Y*: 56.05%
• 5Y*: 100.50%
• 10Y*: —

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

SSRM vs. NGEX.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
SSRM SSR Mining Inc.	24.22%	214.94%	-35.32%	-29.94%	-10.02%	-10.90%	4.41%	26.21%
NGEX.TO NGEx Minerals Ltd	1.77%	100.03%	72.67%	138.13%	56.57%	255.95%	38.35%	-40.47%

Correlation

The correlation between SSRM and NGEX.TO is 0.56, 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	0.56
Correlation (3Y) Calculated over the trailing 3-year period	0.37
Correlation (5Y) Calculated over the trailing 5-year period	0.32
Correlation (All Time) Calculated using the full available price history since Aug 20, 2019	0.22

Over the past year, SSRM and NGEX.TO have become more correlated (0.56) than their long-term average of 0.22, meaning their price movements have been converging.

Fundamentals

Market Cap SSRM : $5.93B NGEX.TO : CA$5.77B
EPS SSRM : $3.27 NGEX.TO : -CA$0.63
PB Ratio SSRM : 1.34 NGEX.TO : 9.07
Total Revenue (TTM) SSRM : $1.90B NGEX.TO : CA$0.00
Gross Profit (TTM) SSRM : $643.76M NGEX.TO : -CA$36.44K
EBITDA (TTM) SSRM : $835.27M NGEX.TO : -CA$134.74M

Return for Risk

SSRM vs. NGEX.TO — Risk / Return Rank

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

SSRM

SSRM Risk / Return Rank: 86
SSRM Sharpe Ratio Rank: 87
SSRM Sortino Ratio Rank: 82
SSRM Omega Ratio Rank: 82
SSRM Calmar Ratio Rank: 88
SSRM Martin Ratio Rank: 88

NGEX.TO

NGEX.TO Risk / Return Rank: 77
NGEX.TO Sharpe Ratio Rank: 80
NGEX.TO Sortino Ratio Rank: 72
NGEX.TO Omega Ratio Rank: 74
NGEX.TO Calmar Ratio Rank: 80
NGEX.TO Martin Ratio Rank: 80

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.

SSRM vs. NGEX.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SSR Mining Inc. (SSRM) and NGEx Minerals Ltd (NGEX.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.

	SSRM	NGEX.TO	Difference
Sharpe ratio: Return per unit of total volatility	1.80	1.23	+0.57
Sortino ratio: Return per unit of downside risk	2.35	1.70	+0.65
Omega ratio: Gain probability vs. loss probability	1.30	1.23	+0.07
Calmar ratio: Return relative to maximum drawdown	3.83	2.33	+1.49
Martin ratio: Return relative to average drawdown	9.89	5.79	+4.09

SSRM vs. NGEX.TO - Sharpe Ratio Comparison

The current SSRM Sharpe Ratio is 1.80, which is higher than the NGEX.TO Sharpe Ratio of 1.23. The chart below compares the historical Sharpe Ratios of SSRM and NGEX.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

SSRM vs. NGEX.TO - Drawdown Comparison

The maximum SSRM drawdown since its inception was -91.68%, which is greater than NGEX.TO's maximum drawdown of -68.12%. Use the drawdown chart below to compare losses from any high point for SSRM and NGEX.TO.

Drawdown Indicators

	SSRM	NGEX.TO	Difference
Max Drawdown Largest peak-to-trough decline	-91.68%	-68.12%	-23.56%
Max Drawdown (1Y) Largest decline over 1 year	-31.28%	-30.80%	-0.48%
Max Drawdown (3Y) Largest decline over 3 years	-73.41%	-30.80%	-42.61%
Max Drawdown (5Y) Largest decline over 5 years	-83.16%	-68.12%	-15.04%
Max Drawdown (10Y) Largest decline over 10 years	-83.16%	—	—
Current Drawdown Current decline from peak	-37.45%	-18.14%	-19.31%
Average Drawdown Average peak-to-trough decline	-57.15%	-19.44%	-37.71%
Ulcer Index Depth and duration of drawdowns from previous peaks	12.09%	12.38%	-0.29%

Volatility

SSRM vs. NGEX.TO - Volatility Comparison

The current volatility for SSR Mining Inc. (SSRM) is 19.31%, while NGEx Minerals Ltd (NGEX.TO) has a volatility of 26.50%. This indicates that SSRM experiences smaller price fluctuations and is considered to be less risky than NGEX.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SSRM	NGEX.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	19.31%	26.50%	-7.19%
Volatility (6M) Calculated over the trailing 6-month period	54.27%	46.12%	+8.15%
Volatility (1Y) Calculated over the trailing 1-year period	66.63%	58.60%	+8.03%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	55.93%	63.39%	-7.46%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	52.96%	72.51%	-19.55%

Dividends

SSRM vs. NGEX.TO - Dividend Comparison

Neither SSRM nor NGEX.TO has paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021
NGEX.TO NGEx Minerals Ltd	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SSRM SSR Mining Inc.	0.00%	0.00%	0.00%	2.60%	1.79%	1.13%

Financials

Frequently Asked Questions

Can I hold both SSRM and NGEX.TO in my portfolio?

SSRM and NGEX.TO have a correlation of 0.56, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.