Hecla Mining Correlations

HL Stock

USD 8.51 0.44 5.45%

The current 90-days correlation between Hecla Mining and Compania de Minas is 0.58 (i.e., Very weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Hecla Mining moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Hecla Mining moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Build AI portfolio with Hecla Stock

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Hecla Mining. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in board of governors.

For more information on how to buy Hecla Stock please use our How to buy in Hecla Stock guide.

Moving together with Hecla Stock

0.74	ASM	Avino Silver Gold	Pair Corr
0.89	BVN	Compania de Minas	Pair Corr
0.79	MTA	Metalla Royalty Streaming Trending	Pair Corr
0.76	ITRG	Integra Resources Corp Buyout Trend	Pair Corr
0.68	PPTA	Perpetua Resources Corp	Pair Corr
0.67	SLSR	Solaris Resources	Pair Corr
0.9	TFPM	Triple Flag Precious	Pair Corr
0.92	B	Barrick Mining Symbol Change	Pair Corr
0.63	AG	First Majestic Silver Aggressive Push	Pair Corr
0.83	AU	AngloGold Ashanti plc	Pair Corr
0.68	CC	Chemours	Pair Corr
0.75	CX	Cemex SAB de Aggressive Push	Pair Corr
0.72	MP	MP Materials Corp	Pair Corr
0.86	NB	NioCorp Developments	Pair Corr
0.81	NG	NovaGold Resources Buyout Trend	Pair Corr
0.89	OR	Osisko Gold Ro	Pair Corr
0.71	SA	Seabridge Gold Buyout Trend	Pair Corr
0.65	TX	Ternium SA ADR	Pair Corr
0.76	VALE	Vale SA ADR Aggressive Push	Pair Corr
0.63	ECVT	Ecovyst	Pair Corr
0.64	VZLA	Vizsla Resources Corp	Pair Corr

Moving against Hecla Stock

0.76	LODE	Comstock Mining	Pair Corr
0.74	CE	Celanese	Pair Corr
0.72	CF	CF Industries Holdings	Pair Corr
0.54	FF	FutureFuel Corp	Pair Corr
0.45	RS	Reliance Steel Aluminum	Pair Corr
0.38	HYMCL	Hycroft Mining Holding	Pair Corr

Related Correlations Analysis

	EXK	MUX	ASM	BVN	CDE	PAAS	KGC	AG
EXK		0.88	0.73	0.78	0.65	0.82	0.6	0.92	EXK
MUX	0.88		0.54	0.63	0.44	0.62	0.43	0.77	MUX
ASM	0.73	0.54		0.61	0.75	0.82	0.63	0.74	ASM
BVN	0.78	0.63	0.61		0.89	0.88	0.9	0.72	BVN
CDE	0.65	0.44	0.75	0.89		0.91	0.96	0.61	CDE
PAAS	0.82	0.62	0.82	0.88	0.91		0.84	0.86	PAAS
KGC	0.6	0.43	0.63	0.9	0.96	0.84		0.52	KGC
AG	0.92	0.77	0.74	0.72	0.61	0.86	0.52		AG
	EXK	MUX	ASM	BVN	CDE	PAAS	KGC	AG

Risk-Adjusted Indicators

There is a big difference between Hecla Stock performing well and Hecla Mining Company doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze Hecla Mining's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
EXK	2.63	0.84	0.25	2.68	2.35	(3.22)	7.57	(4.52)	18.77
MUX	2.36	0.47	0.16	0.68	2.19	(2.58)	5.88	(4.68)	20.90
ASM	2.85	0.55	0.13	1.89	3.12	(3.05)	5.43	(5.00)	15.22
BVN	1.42	0.36	0.17	1.45	1.36	(1.61)	3.67	(2.29)	9.93
CDE	2.16	0.70	0.25	6.82	1.99	(2.62)	5.86	(3.76)	18.63
PAAS	1.78	0.54	0.21	(3.31)	1.56	(2.13)	4.93	(2.67)	12.37
KGC	1.78	0.56	0.19	(4.50)	1.79	(2.00)	5.12	(3.51)	12.71
AG	2.45	0.60	0.20	12.34	2.26	(3.06)	5.51	(3.58)	23.58

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Hecla Mining Correlations

Moving together with Hecla Stock

Moving against Hecla Stock

Related Correlations Analysis

Risk-Adjusted Indicators

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