Hecla Mining Correlations

HL Stock

USD 5.95 0.07 1.16%

The current 90-days correlation between Hecla Mining and Compania de Minas is -0.14 (i.e., Good 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.

Hecla Mining Correlation With Market

Average diversification

The correlation between Hecla Mining and DJI is 0.1 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Hecla Mining and DJI in the same portfolio, assuming nothing else is changed.

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 bureau of economic analysis.

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

Moving together with Hecla Stock

0.62	BVN	Compania de Minas Earnings Call This Week	Pair Corr
0.72	MTA	Metalla Royalty Streaming Downward Rally	Pair Corr
0.68	MUX	McEwen Mining	Pair Corr
0.62	PLG	Platinum Group Metals	Pair Corr
0.66	TFPM	Triple Flag Precious	Pair Corr
0.75	B	Barrick Mining Earnings Call This Week	Pair Corr
0.77	AG	First Majestic Silver	Pair Corr
0.65	DC	Dakota Gold Corp	Pair Corr
0.72	SA	Seabridge Gold	Pair Corr

Moving against Hecla Stock

0.44

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Pair Corr

Related Correlations Analysis

	EXK	MUX	ASM	BVN	CDE	PAAS	KGC	AG
EXK		0.95	0.83	0.89	0.75	0.91	0.77	0.98	EXK
MUX	0.95		0.82	0.87	0.74	0.85	0.79	0.93	MUX
ASM	0.83	0.82		0.89	0.94	0.67	0.68	0.84	ASM
BVN	0.89	0.87	0.89		0.86	0.86	0.83	0.94	BVN
CDE	0.75	0.74	0.94	0.86		0.64	0.6	0.78	CDE
PAAS	0.91	0.85	0.67	0.86	0.64		0.84	0.93	PAAS
KGC	0.77	0.79	0.68	0.83	0.6	0.84		0.81	KGC
AG	0.98	0.93	0.84	0.94	0.78	0.93	0.81		AG
	EXK	MUX	ASM	BVN	CDE	PAAS	KGC	AG

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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	2.96	0.56	0.10	(0.77)	2.91	(3.63)	7.57	(5.21)	18.77
MUX	2.25	0.53	0.13	(1.38)	2.32	(2.40)	5.88	(4.33)	20.09
ASM	3.36	0.98	0.26	8.42	2.83	(4.24)	7.93	(5.00)	22.11
BVN	1.73	0.29	0.04	(0.37)	1.94	(1.84)	3.67	(2.80)	9.93
CDE	2.53	0.72	0.23	(2.11)	1.90	(3.16)	6.24	(3.44)	28.49
PAAS	2.03	0.27	(0.01)	(0.07)	3.61	(1.97)	4.70	(3.05)	22.62
KGC	1.87	0.24	(0.01)	(0.11)	2.74	(1.94)	3.53	(5.36)	13.81
AG	2.67	0.49	0.08	(0.60)	3.32	(2.92)	7.08	(5.58)	23.58

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