AGI vs NEM: Correlation
How closely do Alamos Gold Inc. Class A (AGI) and Newmont (NEM) trade together? Their weekly returns over three years give a correlation of 0.79, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AGI and NEM?
Over the past 3 years, AGI and NEM moved with a correlation of 0.79, which is strong. Recent behaviour matches the longer record: 0.87 over 1 year against 0.79 over 3. Over 5 years the correlation is 0.75, and the annualized covariance of weekly returns is 1562.3 %².
Among the 26 assets we track against AGI, NEM ranks #16 by 3-year correlation. Correlation aside, the last 12 months split them widely, with NEM ahead by 57.0 points (+27.7% versus +84.7%).
How is this computed?
Pearson correlation on weekly returns: ρ(A,B) = cov(rA, rB) / (σA · σB), over windows of 52, 156 and 260 weeks. Covariance is annualized (×52) and expressed in %². Full definitions on the methodology page.
AGI vs NEM: side by side
| AGI (Alamos Gold Inc. Class A) | NEM (Newmont) | |
|---|---|---|
| 1-year return | +27.7% | +84.7% |
| 5-year return | +404.0% | +165.9% |
| Volatility (ann.) | 46.1% | 43.0% |
| Beta vs S&P 500 | 0.76 | 0.87 |
| Max drawdown (3Y) | -49.6% | -36.6% |
| Market cap | $15.9B | $139.4B |
| P/E (trailing) | 13.5 | 16.6 |
| Dividend yield | 0.35% | 0.78% |
| Sector / category | US Listed | Materials |
Year-by-year returns
| Year | AGI | NEM |
|---|---|---|
| 2022 | +33.1% | -20.8% |
| 2023 | +34.3% | -8.8% |
| 2024 | +37.7% | -7.8% |
| 2025 | +109.6% | +172.8% |
| 2026 | -1.6% | +33.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AGI and NEM good diversifiers for each other?
To a limited degree. At 0.79 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between AGI and NEM?
As of 2026-08-27, the correlation of weekly returns between AGI and NEM is 0.79 over 3 years, 0.87 over 1 year and 0.75 over 5 years.
Is NEM a good diversifier for AGI?
To a limited degree. At 0.79 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.79 mean?
A reading of 0.79 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
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Related comparisons
Hubs: AGI correlations · NEM correlations
