Agnico Eagle Mines Ltd. (AEM) — Stock Correlations & Overview
Over the past year, AEM has moved most closely with SGDM, RING, NUGT. Explore the stocks most correlated and inversely correlated with AEM below, along with its price, financials, and company profile.
Stocks correlated with AEM
Correlation of daily returns. Higher positive values move with AEM; negative values move opposite it. Informational only, not investment advice.
Most correlated with AEM
| Symbol | Company | Correlation |
|---|---|---|
| SGDM | Sprott Gold Miners ETF | 0.96 |
| RING | iShares MSCI Global Gold Miners ETF | 0.95 |
| NUGT | Direxion Daily Gold Miners Index Bull 2X ETF | 0.95 |
| GDX | VanEck Gold Miners ETF | 0.95 |
| GDXU | MicroSectors Gold Miners 3x Leveraged ETNCOMMERCIAL BANKS, NEC | 0.94 |
Most inversely correlated with AEM
| Symbol | Company | Correlation |
|---|---|---|
| DUST | Direxion Daily Gold Miners Index Bear 2X ETF | -0.95 |
| GDXD | MicroSectors Gold Miners -3x Inverse Leveraged ETNCOMMERCIAL BANKS, NEC | -0.94 |
| JDST | Direxion Daily Junior Gold Miners Index Bear 2X ETF | -0.92 |
| GLL | ProShares UltraShort GoldCOMMODITY CONTRACTS BROKERS & DEALERS | -0.82 |
| DULL | MicroSectors Gold -3x Inverse Leveraged ETNCOMMERCIAL BANKS, NEC | -0.82 |
Frequently asked questions about AEM correlations
- Which stocks are most correlated with AEM?
- Based on one year of daily returns, the stocks most correlated with Agnico Eagle Mines Ltd. (AEM) are SGDM (0.96), RING (0.95) and NUGT (0.95). A correlation near 1.00 means the two stocks' daily moves have tracked each other closely over the period.
- Which stocks are inversely correlated with AEM?
- Over the past year, the stocks most inversely correlated with Agnico Eagle Mines Ltd. (AEM) are DUST (-0.95), GDXD (-0.94) and JDST (-0.92). A negative correlation means the two stocks have tended to move in opposite directions.
- What does a correlation of 0.8 mean for a stock?
- Correlation measures how closely two stocks' daily returns move together, on a scale from -1 to 1. At 0.8, the two stocks have moved in the same direction on most days — though not by identical amounts. A value near 0 means their moves have been unrelated, and a negative value means they have tended to move in opposite directions. Correlation reflects past behavior and can change over time.
- How are these AEM correlations calculated?
- We compute the correlation of daily returns between AEM and roughly 9,000 other US-listed stocks and ETFs over the trailing one-year window, then rank the strongest positive and negative relationships. The data is refreshed monthly. It is informational and educational only — not investment advice.
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