NEM correlations (Newmont)
NEM measured against 4756 US stocks and ETFs: closest co-movers on one side, the best offsets on the other, all from weekly returns.
Data as of 2026-08-27 · refreshed every trading day · Materials · Gold
Volatility (ann.)
43.0%
3y weekly
Beta vs S&P 500
0.87
3y weekly
1-year return
+84.7%
price, adjusted
5-year return
+165.9%
price, adjusted
Market cap
$139.4B
latest
P/E ratio
16.6
trailing
Dividend yield
0.78%
trailing
Max drawdown
-36.6%
3y, daily closes
NEM over the last 12 months, weekly closes indexed to 100 at the start.
Stocks and ETFs most correlated with NEM
| Asset | Correlation (3Y) | ||
|---|---|---|---|
| GDX | VanEck Gold Miners ETF | 0.90 | |
| AEM | Agnico Eagle Mines Limited | 0.84 | |
| WPM | Wheaton Precious Metals Corp | 0.84 | |
| B | Barrick Mining Corporation | 0.83 | |
| RGLD | Royal Gold, Inc. | 0.81 | |
| KGC | Kinross Gold Corporation | 0.80 | |
| AU | AngloGold Ashanti PLC | 0.80 | |
| ASA | ASA Gold and Precious Metals Limited | 0.80 | |
| AGI | Alamos Gold Inc. Class A | 0.79 | |
| CGAU | Centerra Gold Inc. | 0.78 | |
| EGO | Eldorado Gold Corporation | 0.77 | |
| PAAS | Pan American Silver Corp. | 0.76 | |
| TFPM | Triple Flag Precious Metals Corp. | 0.76 | |
| GGN | GAMCO Global Gold, Natural Resources & Income Trust | 0.76 | |
| IAG | Iamgold Corporation | 0.75 |
Best diversifiers for NEM
The least-correlated liquid assets in our universe, meaning the ones that historically moved most independently from NEM.
| Asset | Correlation (3Y) | ||
|---|---|---|---|
| DGZ | DB Gold Short ETN due February 15, 2038 | -0.36 | |
| DZZ | DB Gold Double Short ETN due February 15, 2038 | -0.30 | |
| MACI | Melar Acquisition Corp. I - Class A | -0.26 | |
| FNGD | MicroSectors FANG Index -3X Inverse Leveraged ETNs due | -0.22 | |
| CVRX | CVRx, Inc. | -0.21 | |
| MGLD | The Marygold Companies, Inc. | -0.17 | |
| GNPX | Genprex, Inc. | -0.17 | |
| BATL | Battalion Oil Corporation | -0.17 | |
| VXX | iPath Series B S&P 500 VIX Short-Term Futures ETN | -0.17 | |
| MNPR | Monopar Therapeutics Inc. | -0.17 |
NEM vs benchmarks
NEM vs its peers
Get NEM data as JSON
$ curl https://www.pairbook.io/api/v1/symbols/nem.jsonCorrelations, diversifiers, beta and volatility for NEM, plus one endpoint per pair. API documentation.
NEM inside major ETFs
| ETF | NEM weight | |
|---|---|---|
| XLB | Materials Select Sector SPDR Fund | 8.02% |
| USMV | iShares MSCI USA Min Vol Factor ETF | 1.65% |
| MTUM | iShares MSCI USA Momentum Factor ETF | 0.76% |
| VYM | Vanguard High Dividend Yield ETF | 0.41% |
| SPYG | SPDR Portfolio S&P 500 Growth ETF | 0.39% |
| VTV | Vanguard Value ETF | 0.37% |
| RSP | Invesco S&P 500 Equal Weight ETF | 0.26% |
| IVV | iShares Core S&P 500 ETF | 0.21% |
| SPY | SPDR S&P 500 ETF Trust | 0.21% |
| VOO | Vanguard S&P 500 ETF | 0.16% |
