IAG vs NEM: Correlation
Measured on weekly returns over the past three years, Iamgold Corporation (IAG) and Newmont (NEM) carry a correlation of 0.75, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IAG and NEM?
On 3 years of weekly data the IAG/NEM correlation comes out at 0.75, strong. The link has tightened recently: the 1-year correlation (0.87) runs above the 3-year figure (0.75). The 5-year figure is 0.68, and annualized covariance runs at 2002.4 %².
Among the 14 assets we track against IAG, NEM ranks #7 by 3-year correlation. Correlation aside, the last 12 months split them widely, with IAG ahead by 50.5 points (+135.2% 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.
IAG vs NEM: side by side
| IAG (Iamgold Corporation) | NEM (Newmont) | |
|---|---|---|
| 1-year return | +135.2% | +84.7% |
| 5-year return | +832.5% | +165.9% |
| Volatility (ann.) | 61.7% | 43.0% |
| Beta vs S&P 500 | 1.24 | 0.87 |
| Max drawdown (3Y) | -43.3% | -36.6% |
| Market cap | $12.3B | $139.4B |
| P/E (trailing) | 10.9 | 16.6 |
| Dividend yield | 0.00% | 0.78% |
| Sector / category | US Listed | Materials |
Year-by-year returns
| Year | IAG | NEM |
|---|---|---|
| 2022 | -17.6% | -20.8% |
| 2023 | -1.9% | -8.8% |
| 2024 | +104.0% | -7.8% |
| 2025 | +219.6% | +172.8% |
| 2026 | +30.6% | +33.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IAG and NEM good diversifiers for each other?
Only partially. A correlation of 0.75 means IAG and NEM share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between IAG and NEM?
The IAG/NEM correlation stands at 0.75 on a 3-year window (1 year: 0.87, 5 years: 0.68), computed from weekly returns as of 2026-08-27.
Is NEM a good diversifier for IAG?
Only partially. A correlation of 0.75 means IAG and NEM share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.75 mean?
On the −1 to +1 scale, 0.75 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/iag-vs-nem.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/iag-vs-nem/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: IAG correlations · NEM correlations
