Hecla Mining Correlations

HL Stock

USD 5.83 0.05 0.85%

The current 90-days correlation between Hecla Mining and SilverCrest Metals is -0.08 (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

Significant diversification

The correlation between Hecla Mining and DJI is 0.01 (i.e., Significant 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.

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

0.79	MTA	Metalla Royalty Streaming Earnings Call This Week	Pair Corr
0.73	SBSW	Sibanye Gold	Pair Corr
0.7	SLSR	Solaris Resources	Pair Corr
0.63	AU	AngloGold Ashanti plc	Pair Corr
0.8	OR	Osisko Gold Ro	Pair Corr

Moving against Hecla Stock

0.34

FEAM

5E Advanced Materials

Pair Corr

Related Correlations Analysis

	SILV	MUX	ASM	MTA	EXK	NEWP	GATO	PLG	TFPM
SILV		-0.29	0.26	-0.17	0.29	-0.06	0.0	-0.13	0.39	SILV
MUX	-0.29		-0.39	-0.14	-0.05	0.7	0.0	0.46	-0.46	MUX
ASM	0.26	-0.39		0.73	0.77	-0.09	0.0	-0.03	0.93	ASM
MTA	-0.17	-0.14	0.73		0.56	0.0	0.0	0.32	0.59	MTA
EXK	0.29	-0.05	0.77	0.56		0.37	0.0	0.25	0.77	EXK
NEWP	-0.06	0.7	-0.09	0.0	0.37		0.0	0.59	-0.07	NEWP
GATO	0.0	0.0	0.0	0.0	0.0	0.0		0.0	0.0	GATO
PLG	-0.13	0.46	-0.03	0.32	0.25	0.59	0.0		-0.08	PLG
TFPM	0.39	-0.46	0.93	0.59	0.77	-0.07	0.0	-0.08		TFPM
	SILV	MUX	ASM	MTA	EXK	NEWP	GATO	PLG	TFPM

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

TFPM	+ 0.93	ASM
EXK	+ 0.77	ASM
TFPM	+ 0.77	EXK
MTA	+ 0.73	ASM
NEWP	+ 0.7	MUX
TFPM	+ 0.59	MTA

High negative correlations

TFPM	- 0.46	MUX
ASM	- 0.39	MUX
MUX	- 0.29	SILV
MTA	- 0.17	SILV
MTA	- 0.14	MUX
PLG	- 0.13	SILV

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
SILV	2.70	0.20	0.10	(2.66)	2.99	(2.92)	7.36	(4.41)	15.24
MUX	2.39	(0.02)	0.00	(0.13)	0.00	0.00	4.47	(4.58)	21.47
ASM	4.05	0.95	0.21	0.76	3.99	(4.90)	8.65	(7.43)	21.70
MTA	2.58	0.23	0.10	0.34	2.68	(2.94)	6.69	(4.40)	14.48
EXK	3.51	0.35	0.09	1.77	4.16	(3.75)	8.31	(7.73)	23.75
NEWP	3.03	(0.02)	0.00	(0.13)	0.00	0.00	6.78	(5.65)	14.08
GATO	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
PLG	3.49	(0.05)	0.00	(0.16)	0.00	0.00	8.66	(6.12)	19.12
TFPM	1.39	0.24	0.17	1.77	1.54	(1.49)	3.82	(3.13)	8.68

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