CENX vs. HL

Last updated Jun 5, 2026

CENX (Century Aluminum Company) and HL (Hecla Mining Company) are both stocks. Both are in the Basic Materials sector — CENX in Aluminum, HL in Gold. Over the past 10 years, CENX returned 24.92%/yr vs 14.68%/yr for HL. At a 0.31 correlation, their price movements are largely independent.

Performance

CENX vs. HL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Century Aluminum Company (CENX) and Hecla Mining Company (HL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CENX achieves a 69.55% return, which is significantly higher than HL's -12.26% return. Over the past 10 years, CENX has outperformed HL with an annualized return of 24.92%, while HL has yielded a comparatively lower 14.68% annualized return.

CENX

• 1D: -0.90%
• 1M: 6.66%
• YTD: 69.55%
• 6M: 115.26%
• 1Y: 236.70%
• 3Y*: 98.37%
• 5Y*: 38.88%
• 10Y*: 24.92%

HL

• 1D: 0.96%
• 1M: -1.27%
• YTD: -12.26%
• 6M: 0.10%
• 1Y: 175.77%
• 3Y*: 47.02%
• 5Y*: 14.08%
• 10Y*: 14.68%

*Multi-year figures are annualized to reflect compound growth (CAGR)

CENX vs. HL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
CENX Century Aluminum Company	69.55%	115.04%	50.08%	48.41%	-50.60%	50.14%	46.77%	2.80%	-62.78%	129.44%
HL Hecla Mining Company	-12.26%	291.70%	2.82%	-12.93%	6.99%	-18.97%	91.83%	44.43%	-40.37%	-24.08%

Correlation

The correlation between CENX and HL is 0.34, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.34
Correlation (3Y) Calculated over the trailing 3-year period	0.39
Correlation (5Y) Calculated over the trailing 5-year period	0.44
Correlation (10Y) Calculated over the trailing 10-year period	0.36
Correlation (All Time) Calculated using the full available price history since Apr 1, 1996	0.31

The correlation between CENX and HL shifts across timeframes, from 0.31 (all time) to 0.44 (5 years), reflecting how their relationship changes across market environments.

Fundamentals

Market Cap CENX : $6.95B HL : $11.36B
EPS CENX : $3.54 HL : $0.84
PE Ratio CENX : 18.77 HL : 20.02
PEG Ratio CENX : 0.05 HL : 0.08
PS Ratio CENX : 2.58 HL : 7.12
PB Ratio CENX : 6.04 HL : 4.42
Total Revenue (TTM) CENX : $2.54B HL : $1.57B
Gross Profit (TTM) CENX : $322.30M HL : $788.95M
EBITDA (TTM) CENX : $466.30M HL : $864.40M

Return for Risk

CENX vs. HL — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

CENX

CENX Risk / Return Rank: 95
CENX Sharpe Ratio Rank: 97
CENX Sortino Ratio Rank: 93
CENX Omega Ratio Rank: 92
CENX Calmar Ratio Rank: 97
CENX Martin Ratio Rank: 97

HL

HL Risk / Return Rank: 86
HL Sharpe Ratio Rank: 92
HL Sortino Ratio Rank: 87
HL Omega Ratio Rank: 84
HL Calmar Ratio Rank: 86
HL Martin Ratio Rank: 83

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

CENX vs. HL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Century Aluminum Company (CENX) and Hecla Mining Company (HL). 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.

	CENX	HL	Difference
Sharpe ratio: Return per unit of total volatility	3.86	2.48	+1.38
Sortino ratio: Return per unit of downside risk	3.75	2.86	+0.89
Omega ratio: Gain probability vs. loss probability	1.48	1.35	+0.13
Calmar ratio: Return relative to maximum drawdown	10.12	3.64	+6.48
Martin ratio: Return relative to average drawdown	28.36	7.55	+20.81
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CENX vs. HL - Sharpe Ratio Comparison

The current CENX Sharpe Ratio is 3.86, which is higher than the HL Sharpe Ratio of 2.48. The chart below compares the historical Sharpe Ratios of CENX and HL, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	CENX	HL	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.86	2.48	+1.38
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.54	0.24	+0.30
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.35	0.24	+0.12
Sharpe Ratio (All Time) Calculated using the full available price history	0.08	0.01	+0.07

Drawdowns

CENX vs. HL - Drawdown Comparison

The maximum CENX drawdown since its inception was -98.67%, roughly equal to the maximum HL drawdown of -97.92%. Use the drawdown chart below to compare losses from any high point for CENX and HL.

Drawdown Indicators

	CENX	HL	Difference
Max Drawdown Largest peak-to-trough decline	-98.67%	-97.92%	-0.75%
Max Drawdown (1Y) Largest decline over 1 year	-23.56%	-48.56%	+25.00%
Max Drawdown (3Y) Largest decline over 3 years	-42.77%	-48.56%	+5.79%
Max Drawdown (5Y) Largest decline over 5 years	-82.10%	-63.18%	-18.92%
Max Drawdown (10Y) Largest decline over 10 years	-87.51%	-82.45%	-5.06%
Current Drawdown Current decline from peak	-16.95%	-47.07%	+30.12%
Average Drawdown Average peak-to-trough decline	-61.15%	-69.95%	+8.80%
Ulcer Index Depth and duration of drawdowns from previous peaks	8.39%	23.37%	-14.98%

Volatility

CENX vs. HL - Volatility Comparison

The current volatility for Century Aluminum Company (CENX) is 18.86%, while Hecla Mining Company (HL) has a volatility of 22.25%. This indicates that CENX experiences smaller price fluctuations and is considered to be less risky than HL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CENX	HL	Difference
Volatility (1M) Calculated over the trailing 1-month period	18.86%	22.25%	-3.39%
Volatility (6M) Calculated over the trailing 6-month period	44.51%	53.79%	-9.28%
Volatility (1Y) Calculated over the trailing 1-year period	61.72%	71.54%	-9.82%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	71.95%	59.06%	+12.89%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	70.57%	62.64%	+7.93%

Dividends

CENX vs. HL - Dividend Comparison

CENX has not paid dividends to shareholders, while HL's dividend yield for the trailing twelve months is around 0.09%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CENX Century Aluminum Company	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
HL Hecla Mining Company	0.09%	0.08%	0.81%	0.65%	0.40%	0.72%	0.25%	0.29%	0.42%	0.25%	0.19%	0.53%

Financials

CENX vs. HL - Profitability Comparison

The chart below illustrates the profitability comparison between Century Aluminum Company and Hecla Mining Company over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

CENX - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Century Aluminum Company reported a gross profit of 118.80M and revenue of 649.20M. Therefore, the gross margin over that period was 18.3%.

HL - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Hecla Mining Company reported a gross profit of 253.26M and revenue of 411.43M. Therefore, the gross margin over that period was 61.6%.

CENX - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Century Aluminum Company reported an operating income of 374.00M and revenue of 649.20M, resulting in an operating margin of 57.6%.

HL - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Hecla Mining Company reported an operating income of 223.11M and revenue of 411.43M, resulting in an operating margin of 54.2%.

CENX - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Century Aluminum Company reported a net income of 337.50M and revenue of 649.20M, resulting in a net margin of 52.0%.

HL - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Hecla Mining Company reported a net income of 266.45M and revenue of 411.43M, resulting in a net margin of 64.8%.

Frequently Asked Questions

Can I hold both CENX and HL in my portfolio?

CENX and HL have a correlation of 0.34, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CENX or HL?

HL has higher volatility (22.25%) compared to CENX (18.86%). In terms of maximum drawdown, CENX dropped -98.67% vs HL's -97.92%.

Which has better risk-adjusted returns?

CENX currently has the higher Sharpe Ratio (3.86 vs 2.48), 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.