MOS vs NEM: Correlation
Measured on weekly returns over the past three years, Mosaic Company (The) (MOS) and Newmont (NEM) carry a correlation of 0.37, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MOS and NEM?
Over the past 3 years, MOS and NEM moved with a correlation of 0.37, which is moderate. Recent behaviour matches the longer record: 0.45 over 1 year against 0.37 over 3. Over 5 years the correlation is 0.29, and the annualized covariance of weekly returns is 588.8 %².
Within MOS's tracked universe of 33 assets, NEM comes in at #21 by 3-year correlation. The last year tells two different stories: NEM led by 111.3 percentage points, -26.6% for MOS against +84.7% for NEM. Across three years, the rolling one-year figure varied moderately, from 0.06 to 0.43.
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.
MOS vs NEM: side by side
| MOS (Mosaic Company (The)) | NEM (Newmont) | |
|---|---|---|
| 1-year return | -26.6% | +84.7% |
| 5-year return | -17.1% | +165.9% |
| Volatility (ann.) | 36.6% | 43.0% |
| Beta vs S&P 500 | 0.78 | 0.87 |
| Max drawdown (3Y) | -45.7% | -36.6% |
| Market cap | $7.6B | $139.4B |
| P/E (trailing) | – | 16.6 |
| Dividend yield | 3.64% | 0.78% |
| Sector / category | Materials | Materials |
Year-by-year returns
| Year | MOS | NEM |
|---|---|---|
| 2022 | +12.8% | -20.8% |
| 2023 | -16.4% | -8.8% |
| 2024 | -29.1% | -7.8% |
| 2025 | +1.1% | +172.8% |
| 2026 | +0.5% | +33.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MOS and NEM good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.37 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between MOS and NEM?
The MOS/NEM correlation stands at 0.37 on a 3-year window (1 year: 0.45, 5 years: 0.29), computed from weekly returns as of 2026-08-27.
Is NEM a good diversifier for MOS?
Yes, to a useful degree: a correlation of 0.37 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.37 mean?
On the −1 to +1 scale, 0.37 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/mos-vs-nem.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/mos-vs-nem/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: MOS correlations · NEM correlations
