TNGX vs. FM.TO

Last updated Jun 13, 2026

TNGX (Tango Therapeutics, Inc.) and FM.TO (First Quantum Minerals Ltd.) are both stocks. TNGX operates in Biotechnology (Healthcare), while FM.TO operates in Copper (Basic Materials). Over the past 5 years, TNGX returned 22.99%/yr vs 5.45%/yr for FM.TO. At a 0.13 correlation, their price movements are largely independent.

Performance

TNGX vs. FM.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Tango Therapeutics, Inc. (TNGX) and First Quantum Minerals Ltd. (FM.TO). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

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

Returns By Period

In the year-to-date period, TNGX achieves a 249.21% return, which is significantly higher than FM.TO's 15.44% return.

TNGX

• 1D: 3.76%
• 1M: 24.41%
• YTD: 249.21%
• 6M: 230.91%
• 1Y: 559.70%
• 3Y*: 104.27%
• 5Y*: 22.99%
• 10Y*: —

FM.TO

• 1D: 2.48%
• 1M: 14.16%
• YTD: 15.44%
• 6M: 28.49%
• 1Y: 102.26%
• 3Y*: 10.93%
• 5Y*: 5.45%
• 10Y*: 17.35%

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

TNGX vs. FM.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
TNGX Tango Therapeutics, Inc.	249.21%	186.73%	-68.79%	36.55%	-33.73%	-4.37%	15.79%
FM.TO First Quantum Minerals Ltd.	15.56%	108.10%	57.45%	-60.47%	-11.57%	32.59%	74.83%

Correlation

The correlation between TNGX and FM.TO is 0.12, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.12
Correlation (3Y) Calculated over the trailing 3-year period	0.11
Correlation (5Y) Calculated over the trailing 5-year period	0.13
Correlation (All Time) Calculated using the full available price history since Sep 3, 2020	0.13

Fundamentals

Market Cap TNGX : $4.44B FM.TO : CA$36.11B
EPS TNGX : -$0.89 FM.TO : -$0.24
PS Ratio TNGX : 65.32 FM.TO : 4.76
PB Ratio TNGX : 11.35 FM.TO : 2.33
Total Revenue (TTM) TNGX : $56.99M FM.TO : $5.43B
Gross Profit (TTM) TNGX : $55.33M FM.TO : $1.39B
EBITDA (TTM) TNGX : -$111.92M FM.TO : $1.71B

Return for Risk

TNGX vs. FM.TO — Risk / Return Rank

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

TNGX

TNGX Risk / Return Rank: 98
TNGX Sharpe Ratio Rank: 99
TNGX Sortino Ratio Rank: 98
TNGX Omega Ratio Rank: 96
TNGX Calmar Ratio Rank: 99
TNGX Martin Ratio Rank: 99

FM.TO

FM.TO Risk / Return Rank: 88
FM.TO Sharpe Ratio Rank: 92
FM.TO Sortino Ratio Rank: 86
FM.TO Omega Ratio Rank: 86
FM.TO Calmar Ratio Rank: 87
FM.TO Martin Ratio Rank: 89

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.

TNGX vs. FM.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Tango Therapeutics, Inc. (TNGX) and First Quantum Minerals Ltd. (FM.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.

	TNGX	FM.TO	Difference
Sharpe ratio: Return per unit of total volatility	5.18	2.14	+3.04
Sortino ratio: Return per unit of downside risk	4.89	2.51	+2.37
Omega ratio: Gain probability vs. loss probability	1.60	1.33	+0.27
Calmar ratio: Return relative to maximum drawdown	17.69	3.31	+14.37
Martin ratio: Return relative to average drawdown	46.00	9.41	+36.59

TNGX vs. FM.TO - Sharpe Ratio Comparison

The current TNGX Sharpe Ratio is 5.18, which is higher than the FM.TO Sharpe Ratio of 2.14. The chart below compares the historical Sharpe Ratios of TNGX and FM.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

TNGX vs. FM.TO - Drawdown Comparison

The maximum TNGX drawdown since its inception was -93.64%, roughly equal to the maximum FM.TO drawdown of -93.92%. Use the drawdown chart below to compare losses from any high point for TNGX and FM.TO.

Drawdown Indicators

	TNGX	FM.TO	Difference
Max Drawdown Largest peak-to-trough decline	-93.64%	-93.92%	+0.28%
Max Drawdown (1Y) Largest decline over 1 year	-29.24%	-31.04%	+1.80%
Max Drawdown (3Y) Largest decline over 3 years	-91.46%	-75.86%	-15.60%
Max Drawdown (5Y) Largest decline over 5 years	-93.64%	-79.95%	-13.69%
Max Drawdown (10Y) Largest decline over 10 years	—	-80.21%	—
Current Drawdown Current decline from peak	-1.96%	-12.50%	+10.54%
Average Drawdown Average peak-to-trough decline	-47.98%	-44.57%	-3.41%
Ulcer Index Depth and duration of drawdowns from previous peaks	11.24%	10.91%	+0.33%

Volatility

TNGX vs. FM.TO - Volatility Comparison

Tango Therapeutics, Inc. (TNGX) has a higher volatility of 52.40% compared to First Quantum Minerals Ltd. (FM.TO) at 21.10%. This indicates that TNGX's price experiences larger fluctuations and is considered to be riskier than FM.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TNGX	FM.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	52.40%	21.10%	+31.30%
Volatility (6M) Calculated over the trailing 6-month period	77.75%	40.32%	+37.43%
Volatility (1Y) Calculated over the trailing 1-year period	99.90%	48.05%	+51.85%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	101.94%	58.25%	+43.69%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	96.02%	60.89%	+35.13%

Dividends

TNGX vs. FM.TO - Dividend Comparison

Neither TNGX nor FM.TO has paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FM.TO First Quantum Minerals Ltd.	0.00%	0.00%	0.00%	1.94%	0.58%	0.03%	0.04%	0.08%	0.09%	0.06%	0.11%	1.58%
TNGX Tango Therapeutics, Inc.	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Financials

Frequently Asked Questions

Can I hold both TNGX and FM.TO in my portfolio?

TNGX and FM.TO have a correlation of 0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.