Hecla Mining Correlations

HL-PB Preferred Stock

USD 51.77 0.02 0.04%

The current 90-days correlation between Hecla Mining and McEwen Mining is 0.11 (i.e., Average diversification). The correlation of Hecla Mining is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.

Hecla Mining Correlation With Market

Significant diversification

The correlation between Hecla Mining and DJI is 0.09 (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.

The ability to find closely correlated positions to Hecla Mining could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Hecla Mining when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Hecla Mining - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Hecla Mining to buy it.

Moving together with Hecla Preferred Stock

0.65	EXK	Endeavour Silver Corp	Pair Corr
0.66	PLG	Platinum Group Metals	Pair Corr
0.66	AUMN	Golden Minerals	Pair Corr
0.61	TFPM	Triple Flag Precious	Pair Corr
0.77	X	United States Steel	Pair Corr
0.79	AA	Alcoa Corp	Pair Corr
0.68	DD	Dupont De Nemours Fiscal Year End 4th of February 2025	Pair Corr
0.73	IE	Ivanhoe Electric	Pair Corr
0.78	RS	Reliance Steel Aluminum	Pair Corr
0.76	TX	Ternium SA ADR	Pair Corr
0.68	WS	Worthington Steel	Pair Corr

Moving against Hecla Preferred Stock

0.59	PPTA	Perpetua Resources Corp	Pair Corr
0.45	SLSR	Solaris Resources	Pair Corr

Related Correlations Analysis

	TFPM	MUX	EXK	HL	SILV	ACDXF	NMEX	BVN	GROY
TFPM		0.86	0.9	0.89	0.7	0.25	-0.24	0.58	0.9	TFPM
MUX	0.86		0.78	0.98	0.68	0.49	-0.28	0.78	0.92	MUX
EXK	0.9	0.78		0.83	0.54	0.24	-0.24	0.43	0.9	EXK
HL	0.89	0.98	0.83		0.68	0.46	-0.3	0.74	0.95	HL
SILV	0.7	0.68	0.54	0.68		0.15	-0.13	0.51	0.55	SILV
ACDXF	0.25	0.49	0.24	0.46	0.15		0.17	0.36	0.36	ACDXF
NMEX	-0.24	-0.28	-0.24	-0.3	-0.13	0.17		-0.2	-0.3	NMEX
BVN	0.58	0.78	0.43	0.74	0.51	0.36	-0.2		0.62	BVN
GROY	0.9	0.92	0.9	0.95	0.55	0.36	-0.3	0.62		GROY
	TFPM	MUX	EXK	HL	SILV	ACDXF	NMEX	BVN	GROY

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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

HL	+ 0.98	MUX
GROY	+ 0.95	HL
GROY	+ 0.92	MUX
EXK	+ 0.9	TFPM
GROY	+ 0.9	TFPM
GROY	+ 0.9	EXK

High negative correlations

GROY	- 0.3	NMEX
NMEX	- 0.3	HL
NMEX	- 0.28	MUX
NMEX	- 0.24	EXK
NMEX	- 0.24	TFPM
BVN	- 0.2	NMEX

Risk-Adjusted Indicators

There is a big difference between Hecla Preferred 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
TFPM	1.24	(0.06)	0.00	(1.63)	0.00	0.00	2.16	(2.63)	11.01
MUX	2.33	(0.23)	0.00	9.02	0.00	0.00	6.17	(4.49)	15.77
EXK	2.96	(0.25)	0.00	(1.70)	0.00	0.00	6.60	(5.96)	22.19
HL	2.30	(0.26)	0.00	(2.02)	0.00	0.00	6.30	(4.83)	15.30
SILV	2.92	0.02	0.00	0.14	3.14	(3.49)	7.68	(4.53)	19.18
ACDXF	6.68	0.48	0.02	0.21	10.15	(28.11)	26.67	(25.49)	93.92
NMEX	14.78	2.92	0.10	(0.34)	15.18	(31.40)	50.00	(33.33)	159.41
BVN	1.66	(0.06)	0.00	0.81	0.00	0.00	4.58	(3.22)	11.26
GROY	1.97	(0.18)	0.00	0.56	0.00	0.00	3.94	(4.49)	12.02

Be your own money manager

Our tools can tell you how much better you can do entering a position in Hecla Mining without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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Hecla Mining Corporate Management

Steve Petroni	G Mang	Profile
Anvita Patil	VP Limited	Profile
Kurt Allen	VP Exploration	Profile
Lauren Roberts	VP COO	Profile
David Sienko	VP Counsel	Profile
Michael Clary	Sr Officer	Profile
Michael White	Co Sec	Profile

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