KGC vs NEM: Correlation
Kinross Gold Corporation (KGC) and Newmont (NEM) show a very strong relationship: their 3-year correlation of weekly returns is 0.80.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are KGC and NEM?
On 3 years of weekly data the KGC/NEM correlation comes out at 0.80, very strong, meaning they move nearly in lockstep. The link has tightened recently: the 1-year correlation (0.91) runs above the 3-year figure (0.80). The 5-year figure is 0.77, and annualized covariance runs at 1637.2 %².
Within KGC's tracked universe of 21 assets, NEM comes in at #12 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months NEM outperformed by 23.2 percentage points (+61.5% for KGC 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.
KGC vs NEM: side by side
| KGC (Kinross Gold Corporation) | NEM (Newmont) | |
|---|---|---|
| 1-year return | +61.5% | +84.7% |
| 5-year return | +495.9% | +165.9% |
| Volatility (ann.) | 47.3% | 43.0% |
| Beta vs S&P 500 | 0.97 | 0.87 |
| Max drawdown (3Y) | -40.7% | -36.6% |
| Market cap | $38.6B | $139.4B |
| P/E (trailing) | 12.3 | 16.6 |
| Dividend yield | 0.48% | 0.78% |
| Sector / category | US Listed | Materials |
Year-by-year returns
| Year | KGC | NEM |
|---|---|---|
| 2022 | -27.6% | -20.8% |
| 2023 | +51.8% | -8.8% |
| 2024 | +55.6% | -7.8% |
| 2025 | +205.7% | +172.8% |
| 2026 | +15.9% | +33.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are KGC and NEM good diversifiers for each other?
Not really. At 0.80, the two trade almost as one position, and owning both buys little extra protection.
FAQ
What is the correlation between KGC and NEM?
As of 2026-08-27, the correlation of weekly returns between KGC and NEM is 0.80 over 3 years, 0.91 over 1 year and 0.77 over 5 years.
Is NEM a good diversifier for KGC?
Not really. At 0.80, the two trade almost as one position, and owning both buys little extra protection.
What does a correlation of 0.80 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/kgc-vs-nem.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/kgc-vs-nem/)
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Related comparisons
Hubs: KGC correlations · NEM correlations
