Hecla Mining Correlations

HL Stock

USD 22.60 1.71 8.19%

The current 90-days correlation between Hecla Mining and Offerpad Solutions is 0.2 (i.e., Modest 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

Poor diversification

The correlation between Hecla Mining and DJI is 0.79 (i.e., Poor 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 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

0.93	B	Barrick Mining Symbol Change	Pair Corr
0.69	BP60	ALMA METALS LTD	Pair Corr
0.87	AA	Alcoa Corp	Pair Corr
0.94	AG	First Majestic Silver Earnings Call This Week	Pair Corr
0.78	AP	Ampco Pittsburgh	Pair Corr
0.88	AU	AngloGold Ashanti plc Earnings Call This Week	Pair Corr
0.85	SRM	Seabridge Gold	Pair Corr
0.71	MT	ArcelorMittal SA ADR Sell-off Trend	Pair Corr
0.65	NG	NovaGold Resources	Pair Corr
0.95	OR	Osisko Gold Ro	Pair Corr
0.79	RS	Reliance Steel Aluminum Earnings Call This Week	Pair Corr
0.75	WIA	WIA Gold	Pair Corr
0.87	SA	Seabridge Gold	Pair Corr
0.86	TX	Ternium SA ADR	Pair Corr
0.65	WS	Worthington Steel	Pair Corr
0.86	CUU	Copper Fox Metals	Pair Corr
0.82	VALE	Vale SA ADR Aggressive Push	Pair Corr
0.66	ARI	Arika Resources	Pair Corr
0.69	AML	Abcourt Mines Earnings Call This Week	Pair Corr
0.79	SRK	Strike Resources	Pair Corr
0.68	GCN	Goldcliff Resource Corp	Pair Corr
0.72	LY1	Lion One Metals	Pair Corr
0.86	H6F	ARIZONA SONORAN PER	Pair Corr
0.75	DHR	Discovery Harbour	Pair Corr
0.87	DV	Dolly Varden Silver	Pair Corr
0.87	P4Q	Perseus Mining Earnings Call This Week	Pair Corr
0.9	ELY	Ely Gold Royalties	Pair Corr
0.93	WPM	Wheaton Precious Metals	Pair Corr
0.77	KTN	Kootenay Silver	Pair Corr
0.75	CVA	Cleveland Cliffs	Pair Corr

Moving against Hecla Stock

0.63	R8R	REGENER8 Resources	Pair Corr
0.55	GML	Gateway Mining	Pair Corr
0.35	FHS	Freehill Mining	Pair Corr

Related Correlations Analysis

	STHO	ASPS	AEI	AXR	OPAD	LPA	CHMI	GPMT	RFL	FTHM
STHO		-0.47	0.46	0.21	-0.26	-0.19	0.6	-0.4	-0.14	0.42	STHO
ASPS	-0.47		-0.35	0.02	0.8	0.66	-0.89	0.81	0.16	0.17	ASPS
AEI	0.46	-0.35		-0.14	-0.03	-0.17	0.47	-0.19	0.27	0.23	AEI
AXR	0.21	0.02	-0.14		0.01	0.13	-0.08	-0.05	-0.03	0.37	AXR
OPAD	-0.26	0.8	-0.03	0.01		0.71	-0.7	0.83	0.5	0.48	OPAD
LPA	-0.19	0.66	-0.17	0.13	0.71		-0.58	0.72	0.15	0.49	LPA
CHMI	0.6	-0.89	0.47	-0.08	-0.7	-0.58		-0.72	-0.26	-0.03	CHMI
GPMT	-0.4	0.81	-0.19	-0.05	0.83	0.72	-0.72		0.42	0.27	GPMT
RFL	-0.14	0.16	0.27	-0.03	0.5	0.15	-0.26	0.42		0.24	RFL
FTHM	0.42	0.17	0.23	0.37	0.48	0.49	-0.03	0.27	0.24		FTHM
	STHO	ASPS	AEI	AXR	OPAD	LPA	CHMI	GPMT	RFL	FTHM

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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

GPMT	+ 0.83	OPAD
GPMT	+ 0.81	ASPS
OPAD	+ 0.8	ASPS
GPMT	+ 0.72	LPA
LPA	+ 0.71	OPAD
LPA	+ 0.66	ASPS

High negative correlations

CHMI	- 0.89	ASPS
GPMT	- 0.72	CHMI
CHMI	- 0.7	OPAD
CHMI	- 0.58	LPA
ASPS	- 0.47	STHO
GPMT	- 0.4	STHO

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
STHO	1.70	0.09	0.04	0.16	2.08	(1.86)	3.91	(2.63)	12.93
ASPS	3.80	(0.81)	0.00	(2.58)	0.00	0.00	5.32	(8.97)	30.16
AEI	5.23	0.12	0.01	0.32	5.93	(6.11)	11.73	(10.26)	42.08
AXR	1.76	0.09	0.03	0.15	2.25	(1.91)	3.65	(4.09)	13.12
OPAD	5.51	(1.28)	0.00	(0.28)	0.00	0.00	9.19	(11.93)	62.80
LPA	3.13	(0.33)	0.00	(0.22)	0.00	0.00	6.86	(8.39)	16.30
CHMI	1.53	0.18	0.11	0.21	1.48	(1.89)	3.52	(2.67)	9.35
GPMT	2.19	(0.51)	0.00	(0.26)	0.00	0.00	4.23	(3.72)	20.75
RFL	2.15	(0.06)	0.00	0.44	0.00	0.00	4.92	(3.28)	31.43
FTHM	4.59	(0.33)	0.00	(0.07)	0.00	0.00	11.58	(8.91)	32.95

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