TH.TO vs. NDM.TO

Last updated Jun 4, 2026

TH.TO (Theratechnologies Inc.) and NDM.TO (Northern Dynasty Minerals Ltd.) are both stocks. TH.TO operates in Drug Manufacturers - Specialty & Generic (Healthcare), while NDM.TO operates in Other Industrial Metals & Mining (Basic Materials). At a 0.07 correlation, their price movements are largely independent.

Performance

TH.TO vs. NDM.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Theratechnologies Inc. (TH.TO) and Northern Dynasty Minerals Ltd. (NDM.TO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

TH.TO

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

NDM.TO

• 1D: -5.47%
• 1M: 10.28%
• YTD: 15.19%
• 6M: 16.92%
• 1Y: 80.81%
• 3Y*: 118.05%
• 5Y*: 35.14%
• 10Y*: 21.60%

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

TH.TO vs. NDM.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
TH.TO Theratechnologies Inc.	0.00%	70.61%	22.43%	-55.42%	-68.59%	19.75%	-25.12%	-48.80%	15.88%	162.04%
NDM.TO Northern Dynasty Minerals Ltd.	15.19%	225.30%	93.02%	43.33%	-26.83%	-0.00%	-26.79%	-26.32%	-66.07%	-19.13%

Correlation

The correlation between TH.TO and NDM.TO is -0.06, 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	-0.06
Correlation (3Y) Calculated over the trailing 3-year period	0.01
Correlation (5Y) Calculated over the trailing 5-year period	0.04
Correlation (10Y) Calculated over the trailing 10-year period	0.05
Correlation (All Time) Calculated using the full available price history since Dec 21, 1994	0.07

The correlation between TH.TO and NDM.TO shifts across timeframes, from -0.06 (1 year) to 0.07 (all time), reflecting how their relationship changes across market environments.

Fundamentals

Market Cap TH.TO : CA$220.65M NDM.TO : CA$1.88B
Total Revenue (TTM) TH.TO : CA$84.38M NDM.TO : CA$0.00
Gross Profit (TTM) TH.TO : CA$65.58M NDM.TO : -CA$96.00K
EBITDA (TTM) TH.TO : CA$2.05M NDM.TO : -CA$68.94M

Return for Risk

TH.TO vs. NDM.TO — Risk / Return Rank

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

NDM.TO

NDM.TO Risk / Return Rank: 66
NDM.TO Sharpe Ratio Rank: 64
NDM.TO Sortino Ratio Rank: 67
NDM.TO Omega Ratio Rank: 73
NDM.TO Calmar Ratio Rank: 65
NDM.TO 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.

TH.TO vs. NDM.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Theratechnologies Inc. (TH.TO) and Northern Dynasty Minerals Ltd. (NDM.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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	TH.TO	NDM.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	0.71	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.42	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.22	—
Sharpe Ratio (All Time) Calculated using the full available price history	—	0.08	—

Drawdowns

Drawdown Indicators

	TH.TO	NDM.TO	Difference
Max Drawdown Largest peak-to-trough decline	—	-98.66%	—
Max Drawdown (1Y) Largest decline over 1 year	—	-66.88%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-66.88%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-66.88%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-93.65%	—
Current Drawdown Current decline from peak	—	-85.11%	—
Average Drawdown Average peak-to-trough decline	—	-71.47%	—
Ulcer Index Depth and duration of drawdowns from previous peaks	—	39.64%	—

Volatility

Volatility by Period

	TH.TO	NDM.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	20.97%	—
Volatility (6M) Calculated over the trailing 6-month period	—	75.30%	—
Volatility (1Y) Calculated over the trailing 1-year period	—	114.90%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	83.43%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	97.78%	—

Dividends

TH.TO vs. NDM.TO - Dividend Comparison

Neither TH.TO nor NDM.TO has paid dividends to shareholders.

Tickers have no history of dividend payments

Financials

Frequently Asked Questions

Can I hold both TH.TO and NDM.TO in my portfolio?

TH.TO and NDM.TO have a correlation of -0.06, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.