AEM vs. HMY
AEM (Agnico Eagle Mines Limited) and HMY (Harmony Gold Mining Company Limited) are both stocks. Both operate in the Gold industry within the Basic Materials sector. Over the past 10 years, AEM returned 14.51%/yr vs 16.88%/yr for HMY. A 0.64 correlation means they provide meaningful diversification when combined.
Performance
AEM vs. HMY - Performance Comparison
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Returns By Period
In the year-to-date period, AEM achieves a -3.97% return, which is significantly higher than HMY's -21.43% return. Over the past 10 years, AEM has underperformed HMY with an annualized return of 14.51%, while HMY has yielded a comparatively higher 16.88% annualized return.
AEM
- 1D
- -0.95%
- 1M
- -15.89%
- YTD
- -3.97%
- 6M
- -1.17%
- 1Y
- 38.70%
- 3Y*
- 49.86%
- 5Y*
- 20.89%
- 10Y*
- 14.51%
HMY
- 1D
- -2.36%
- 1M
- -13.77%
- YTD
- -21.43%
- 6M
- -16.57%
- 1Y
- 7.92%
- 3Y*
- 53.04%
- 5Y*
- 28.64%
- 10Y*
- 16.88%
AEM vs. HMY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
AEM Agnico Eagle Mines Limited | -3.97% | 119.53% | 46.04% | 8.98% | 1.08% | -22.81% | 17.39% | 54.18% | -11.51% | 10.92% |
HMY Harmony Gold Mining Company Limited | -21.43% | 145.47% | 35.39% | 82.51% | -16.42% | -10.25% | 28.93% | 102.79% | -4.28% | -12.94% |
Correlation
The correlation between AEM and HMY is 0.79, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.79 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.75 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.74 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.68 |
Correlation (All Time) Calculated using the full available price history since Oct 1, 1996 | 0.64 |
The correlation between AEM and HMY shifts across timeframes, from 0.64 (all time) to 0.79 (1 year), reflecting how their relationship changes across market environments.
Fundamentals
AEM:
$81.34B
HMY:
$9.69B
AEM:
$10.60
HMY:
$41.64
AEM:
15.30
HMY:
0.37
AEM:
0.24
HMY:
0.00
AEM:
6.04
HMY:
0.06
AEM:
3.10
HMY:
0.19
AEM:
$13.51B
HMY:
$150.28B
AEM:
$8.28B
HMY:
$57.55B
AEM:
$9.72B
HMY:
$55.56B
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Return for Risk
AEM vs. HMY — Risk / Return Rank
AEM
HMY
AEM vs. HMY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Agnico Eagle Mines Limited (AEM) and Harmony Gold Mining Company Limited (HMY). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
| AEM | HMY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.77 | ||
| Sortino ratioReturn per unit of downside risk | +0.69 | ||
| Omega ratioGain probability vs. loss probability | 1.18 | 1.08 | +0.10 |
| Calmar ratioReturn relative to maximum drawdown | 1.09 | 0.16 | +0.93 |
| Martin ratioReturn relative to average drawdown | 2.96 | 0.37 | +2.59 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| AEM | HMY | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.89 | 0.12 | +0.77 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.57 | 0.49 | +0.08 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.39 | 0.28 | +0.11 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.16 | 0.05 | +0.11 |
Drawdowns
AEM vs. HMY - Drawdown Comparison
The maximum AEM drawdown since its inception was -90.49%, smaller than the maximum HMY drawdown of -97.04%. Use the drawdown chart below to compare losses from any high point for AEM and HMY.
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Drawdown Indicators
| AEM | HMY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -90.49% | -97.04% | +6.55% |
Max Drawdown (1Y)Largest decline over 1 year | -35.56% | -48.85% | +13.29% |
Max Drawdown (3Y)Largest decline over 3 years | -35.56% | -48.85% | +13.29% |
Max Drawdown (5Y)Largest decline over 5 years | -46.22% | -62.48% | +16.26% |
Max Drawdown (10Y)Largest decline over 10 years | -53.86% | -71.05% | +17.19% |
Current DrawdownCurrent decline from peak | -35.56% | -39.96% | +4.40% |
Average DrawdownAverage peak-to-trough decline | -46.66% | -52.76% | +6.10% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 13.12% | 21.37% | -8.25% |
Volatility
AEM vs. HMY - Volatility Comparison
The current volatility for Agnico Eagle Mines Limited (AEM) is 14.34%, while Harmony Gold Mining Company Limited (HMY) has a volatility of 19.79%. This indicates that AEM experiences smaller price fluctuations and is considered to be less risky than HMY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| AEM | HMY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 14.34% | 19.79% | -5.45% |
Volatility (6M)Calculated over the trailing 6-month period | 35.53% | 48.34% | -12.81% |
Volatility (1Y)Calculated over the trailing 1-year period | 43.68% | 64.38% | -20.70% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 36.98% | 58.49% | -21.51% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 37.31% | 61.19% | -23.88% |
Dividends
AEM vs. HMY - Dividend Comparison
AEM's dividend yield for the trailing twelve months is around 1.05%, less than HMY's 2.62% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
AEM Agnico Eagle Mines Limited | 1.05% | 0.94% | 2.05% | 2.92% | 3.08% | 2.63% | 2.36% | 0.89% | 1.09% | 0.89% | 0.86% | 1.22% |
HMY Harmony Gold Mining Company Limited | 2.62% | 1.07% | 1.59% | 0.66% | 1.14% | 2.23% | 0.00% | 0.00% | 0.00% | 3.13% | 1.37% | 0.00% |
Financials
AEM vs. HMY - Financials Comparison
This section allows you to compare key financial metrics between Agnico Eagle Mines Limited and Harmony Gold Mining Company Limited. You can select fields from income statements, balance sheets, and cash flow statements to easily visualize and compare the financial health of both companies.
Total Revenue: Total amount of money received from sales and other business activities
AEM vs. HMY - Profitability Comparison
AEM - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Agnico Eagle Mines Limited reported a gross profit of 2.72B and revenue of 4.10B. Therefore, the gross margin over that period was 66.4%.
HMY - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Harmony Gold Mining Company Limited reported a gross profit of 20.53B and revenue of 46.57B. Therefore, the gross margin over that period was 44.1%.
AEM - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Agnico Eagle Mines Limited reported an operating income of 2.56B and revenue of 4.10B, resulting in an operating margin of 62.4%.
HMY - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Harmony Gold Mining Company Limited reported an operating income of 19.36B and revenue of 46.57B, resulting in an operating margin of 41.6%.
AEM - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Agnico Eagle Mines Limited reported a net income of 1.70B and revenue of 4.10B, resulting in a net margin of 41.4%.
HMY - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Harmony Gold Mining Company Limited reported a net income of 9.29B and revenue of 46.57B, resulting in a net margin of 19.9%.
Frequently Asked Questions
AEM and HMY have a correlation of 0.79, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
HMY has higher volatility (19.79%) compared to AEM (14.34%). In terms of maximum drawdown, AEM dropped -90.49% vs HMY's -97.04%.
AEM currently has the higher Sharpe Ratio (0.89 vs 0.12), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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