TFPM vs. NEM

Last updated Jul 11, 2026

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

Performance

TFPM vs. NEM - Performance Comparison

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

Returns By Period

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

TFPM

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

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%

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

TFPM vs. NEM - Yearly Performance Comparison

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

Correlation

The correlation between TFPM and NEM 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, TFPM and NEM have become more correlated (0.79) than their long-term average of 0.54, meaning their price movements have been converging.

Fundamentals

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

Return for Risk

TFPM vs. NEM — Risk / Return Rank

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

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

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

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.

TFPM vs. NEM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Triple Flag Precious Metals Corp (TFPM) and Newmont Corporation (NEM). 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.

	TFPM	NEM	Difference
Sharpe ratio: Return per unit of total volatility	0.49	1.29	-0.80
Sortino ratio: Return per unit of downside risk	0.91	1.72	-0.81
Omega ratio: Gain probability vs. loss probability	1.12	1.23	-0.12
Calmar ratio: Return relative to maximum drawdown	0.62	2.09	-1.47
Martin ratio: Return relative to average drawdown	1.52	4.81	-3.29

TFPM vs. NEM - Sharpe Ratio Comparison

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

TFPM vs. NEM - Drawdown Comparison

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

Drawdown Indicators

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

Volatility

TFPM vs. NEM - Volatility Comparison

Triple Flag Precious Metals Corp (TFPM) has a higher volatility of 15.53% compared to Newmont Corporation (NEM) at 14.14%. This indicates that TFPM's price experiences larger fluctuations and is considered to be riskier than NEM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

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

Dividends

TFPM vs. NEM - Dividend Comparison

TFPM's dividend yield for the trailing twelve months is around 0.82%, less than NEM's 1.07% 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 TFPM and NEM in my portfolio?

TFPM and NEM 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, TFPM or NEM?

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

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.