ARE.TO vs. HBM.TO
ARE.TO (Aecon Group Inc.) and HBM.TO (Hudbay Minerals Inc.) are both stocks. ARE.TO operates in Engineering & Construction (Industrials), while HBM.TO operates in Copper (Basic Materials). Over the past 10 years, ARE.TO returned 14.43%/yr vs 19.60%/yr for HBM.TO. At a 0.25 correlation, their price movements are largely independent.
Performance
ARE.TO vs. HBM.TO - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, ARE.TO achieves a 44.52% return, which is significantly higher than HBM.TO's 33.51% return. Over the past 10 years, ARE.TO has underperformed HBM.TO with an annualized return of 14.43%, while HBM.TO has yielded a comparatively higher 19.60% annualized return.
ARE.TO
- 1D
- -0.97%
- 1M
- -15.16%
- YTD
- 44.52%
- 6M
- 46.99%
- 1Y
- 139.99%
- 3Y*
- 56.20%
- 5Y*
- 25.59%
- 10Y*
- 14.43%
HBM.TO
- 1D
- 1.82%
- 1M
- 6.13%
- YTD
- 33.51%
- 6M
- 51.09%
- 1Y
- 176.00%
- 3Y*
- 79.91%
- 5Y*
- 34.03%
- 10Y*
- 19.60%
ARE.TO vs. HBM.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ARE.TO Aecon Group Inc. | 44.52% | 18.93% | 116.70% | 52.38% | -42.52% | 7.14% | -2.38% | 2.65% | -9.02% | 34.60% |
HBM.TO Hudbay Minerals Inc. | 33.51% | 134.08% | 60.29% | 6.88% | -25.13% | 3.05% | 66.44% | -16.44% | -41.80% | 45.20% |
Correlation
The correlation between ARE.TO and HBM.TO is 0.16, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.16 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.20 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.27 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.24 |
Correlation (All Time) Calculated using the full available price history since Jul 7, 2006 | 0.25 |
The correlation between ARE.TO and HBM.TO shifts across timeframes, from 0.16 (1 year) to 0.27 (5 years), reflecting how their relationship changes across market environments.
Fundamentals
ARE.TO:
CA$3.03B
HBM.TO:
CA$14.50B
ARE.TO:
CA$0.53
HBM.TO:
CA$1.65
ARE.TO:
84.54
HBM.TO:
22.01
ARE.TO:
1.35
HBM.TO:
0.15
ARE.TO:
0.53
HBM.TO:
6.13
ARE.TO:
2.84
HBM.TO:
4.10
ARE.TO:
CA$5.63B
HBM.TO:
CA$2.36B
ARE.TO:
CA$398.23M
HBM.TO:
CA$851.84M
ARE.TO:
CA$185.76M
HBM.TO:
CA$1.50B
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
ARE.TO vs. HBM.TO — Risk / Return Rank
ARE.TO
HBM.TO
ARE.TO vs. HBM.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Aecon Group Inc. (ARE.TO) and Hudbay Minerals Inc. (HBM.TO). 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.
| ARE.TO | HBM.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.56 | ||
| Sortino ratioReturn per unit of downside risk | +1.20 | ||
| Omega ratioGain probability vs. loss probability | 1.54 | 1.44 | +0.11 |
| Calmar ratioReturn relative to maximum drawdown | 6.52 | 4.93 | +1.60 |
| Martin ratioReturn relative to average drawdown | 18.76 | 16.23 | +2.53 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| ARE.TO | HBM.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 3.70 | 3.14 | +0.56 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.68 | 0.66 | +0.02 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.42 | 0.36 | +0.06 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.40 | 0.09 | +0.31 |
Drawdowns
ARE.TO vs. HBM.TO - Drawdown Comparison
The maximum ARE.TO drawdown since its inception was -74.94%, smaller than the maximum HBM.TO drawdown of -92.61%. Use the drawdown chart below to compare losses from any high point for ARE.TO and HBM.TO.
Loading charts...
Drawdown Indicators
| ARE.TO | HBM.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -74.94% | -92.61% | +17.67% |
Max Drawdown (1Y)Largest decline over 1 year | -21.58% | -35.94% | +14.36% |
Max Drawdown (3Y)Largest decline over 3 years | -46.94% | -38.61% | -8.33% |
Max Drawdown (5Y)Largest decline over 5 years | -58.59% | -62.23% | +3.64% |
Max Drawdown (10Y)Largest decline over 10 years | -58.59% | -84.01% | +25.42% |
Current DrawdownCurrent decline from peak | -20.84% | -17.47% | -3.37% |
Average DrawdownAverage peak-to-trough decline | -27.02% | -60.52% | +33.50% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.49% | 10.89% | -3.40% |
Volatility
ARE.TO vs. HBM.TO - Volatility Comparison
The current volatility for Aecon Group Inc. (ARE.TO) is 9.97%, while Hudbay Minerals Inc. (HBM.TO) has a volatility of 25.25%. This indicates that ARE.TO experiences smaller price fluctuations and is considered to be less risky than HBM.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| ARE.TO | HBM.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.97% | 25.25% | -15.28% |
Volatility (6M)Calculated over the trailing 6-month period | 25.92% | 45.39% | -19.47% |
Volatility (1Y)Calculated over the trailing 1-year period | 38.17% | 56.56% | -18.39% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 37.80% | 52.00% | -14.20% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 34.75% | 55.53% | -20.78% |
Dividends
ARE.TO vs. HBM.TO - Dividend Comparison
ARE.TO's dividend yield for the trailing twelve months is around 1.69%, more than HBM.TO's 0.05% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ARE.TO Aecon Group Inc. | 1.69% | 2.43% | 2.79% | 5.66% | 8.12% | 4.15% | 3.91% | 3.31% | 2.84% | 2.51% | 2.26% | 2.60% |
HBM.TO Hudbay Minerals Inc. | 0.05% | 0.07% | 0.17% | 0.27% | 0.29% | 0.22% | 0.22% | 0.37% | 0.31% | 0.18% | 0.26% | 0.38% |
Financials
ARE.TO vs. HBM.TO - Financials Comparison
This section allows you to compare key financial metrics between Aecon Group Inc. and Hudbay Minerals Inc.. 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
ARE.TO vs. HBM.TO - Profitability Comparison
ARE.TO - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Aecon Group Inc. reported a gross profit of 100.55M and revenue of 1.26B. Therefore, the gross margin over that period was 8.0%.
HBM.TO - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Hudbay Minerals Inc. reported a gross profit of 339.94M and revenue of 743.51M. Therefore, the gross margin over that period was 45.7%.
ARE.TO - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Aecon Group Inc. reported an operating income of -6.50M and revenue of 1.26B, resulting in an operating margin of -0.5%.
HBM.TO - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Hudbay Minerals Inc. reported an operating income of 296.85M and revenue of 743.51M, resulting in an operating margin of 39.9%.
ARE.TO - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Aecon Group Inc. reported a net income of -17.92M and revenue of 1.26B, resulting in a net margin of -1.4%.
HBM.TO - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Hudbay Minerals Inc. reported a net income of 187.28M and revenue of 743.51M, resulting in a net margin of 25.2%.
Frequently Asked Questions
ARE.TO and HBM.TO have a correlation of 0.16, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
Find the right allocation for ARE.TO and HBM.TO
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer