B vs NEM: Correlation
Measured on weekly returns over the past three years, Barrick Mining Corporation (B) and Newmont (NEM) carry a correlation of 0.83, a very strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are B and NEM?
On 3 years of weekly data the B/NEM correlation comes out at 0.83, very strong, meaning they move nearly in lockstep. Recent behaviour matches the longer record: 0.86 over 1 year against 0.83 over 3. The 5-year figure is 0.83, and annualized covariance runs at 1456.4 %².
By 3-year correlation, NEM places #6 of the 17 assets tracked against B. Their 12-month results are close: +83.1% for B against +84.7% for NEM.
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.
B vs NEM: side by side
| B (Barrick Mining Corporation) | NEM (Newmont) | |
|---|---|---|
| 1-year return | +83.1% | +84.7% |
| 5-year return | +171.9% | +165.9% |
| Volatility (ann.) | 40.7% | 43.0% |
| Beta vs S&P 500 | 0.87 | 0.87 |
| Max drawdown (3Y) | -33.4% | -36.6% |
| Market cap | $77.9B | $139.4B |
| P/E (trailing) | 12.2 | 16.6 |
| Dividend yield | 1.38% | 0.78% |
| Sector / category | US Listed | Materials |
Year-by-year returns
| Year | B | NEM |
|---|---|---|
| 2022 | -6.2% | -20.8% |
| 2023 | +7.9% | -8.8% |
| 2024 | -12.3% | -7.8% |
| 2025 | +186.9% | +172.8% |
| 2026 | +10.0% | +33.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are B and NEM good diversifiers for each other?
No. With a correlation of 0.83, B and NEM move nearly in lockstep, so holding both adds very little diversification.
FAQ
What is the correlation between B and NEM?
The B/NEM correlation stands at 0.83 on a 3-year window (1 year: 0.86, 5 years: 0.83), computed from weekly returns as of 2026-08-27.
Is NEM a good diversifier for B?
No. With a correlation of 0.83, B and NEM move nearly in lockstep, so holding both adds very little diversification.
What does a correlation of 0.83 mean?
On the −1 to +1 scale, 0.83 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/b-vs-nem.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/b-vs-nem/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: B correlations · NEM correlations
