HudBay Income Quality from 2010 to 2024
| HBM Stock | CAD 12.49 0.23 1.88% |
Income Quality | First Reported 2010-12-31 | Previous Quarter 6.11706047 | Current Value 6.42 | Quarterly Volatility 8.62422022 |
Check HudBay Minerals financial statements over time to gain insight into future company performance. You can evaluate financial statements to find patterns among HudBay Minerals' main balance sheet or income statement drivers, such as Depreciation And Amortization of 412.7 M, Interest Expense of 80 M or Selling General Administrative of 27.7 M, as well as many indicators such as Price To Sales Ratio of 0.96, Dividend Yield of 0.0025 or PTB Ratio of 1.35. HudBay financial statements analysis is a perfect complement when working with HudBay Minerals Valuation or Volatility modules.
HudBay | Income Quality |
Pair Trading with HudBay Minerals
One of the main advantages of trading using pair correlations is that every trade hedges away some risk. Because there are two separate transactions required, even if HudBay Minerals position performs unexpectedly, the other equity can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in HudBay Minerals will appreciate offsetting losses from the drop in the long position's value.Moving together with HudBay Stock
| 0.82 | AG | First Majestic Silver | PairCorr |
| 0.85 | IE | Ivanhoe Energy | PairCorr |
| 0.88 | FDY | Faraday Copper Corp | PairCorr |
Moving against HudBay Stock
The ability to find closely correlated positions to HudBay Minerals could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace HudBay Minerals 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 HudBay Minerals - 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 HudBay Minerals to buy it.
The correlation of HudBay Minerals 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 perfect positive correlation (i.e., a correlation coefficient of +1) implies that as HudBay Minerals moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if HudBay Minerals moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Correlation analysis and pair trading evaluation for HudBay Minerals can also be used as hedging techniques within a particular sector or industry or even over random equities to generate a better risk-adjusted return on your portfolios.Check out the analysis of HudBay Minerals Correlation against competitors. To learn how to invest in HudBay Stock, please use our How to Invest in HudBay Minerals guide.You can also try the Economic Indicators module to top statistical indicators that provide insights into how an economy is performing.