CMCL vs. HYMC

Last updated Jun 9, 2026

CMCL (Caledonia Mining Corporation Plc) and HYMC (Hycroft Mining Holding Corporation) are both stocks. Both operate in the Gold industry within the Basic Materials sector. Over the past 5 years, CMCL returned 11.37%/yr vs -6.12%/yr for HYMC. At a 0.25 correlation, their price movements are largely independent.

Performance

CMCL vs. HYMC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Caledonia Mining Corporation Plc (CMCL) and Hycroft Mining Holding Corporation (HYMC). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CMCL achieves a -23.85% return, which is significantly lower than HYMC's 10.77% return.

CMCL

• 1D: -1.30%
• 1M: -17.18%
• YTD: -23.85%
• 6M: -17.45%
• 1Y: 8.42%
• 3Y*: 16.31%
• 5Y*: 11.37%
• 10Y*: —

HYMC

• 1D: -0.38%
• 1M: -31.50%
• YTD: 10.77%
• 6M: 133.42%
• 1Y: 506.68%
• 3Y*: 101.80%
• 5Y*: -6.12%
• 10Y*: —

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

CMCL vs. HYMC - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
CMCL Caledonia Mining Corporation Plc	-23.85%	186.75%	-18.90%	2.65%	11.39%	-23.84%	93.29%	67.37%	-23.27%
HYMC Hycroft Mining Holding Corporation	10.77%	975.57%	-9.80%	-53.96%	-13.30%	-92.18%	-24.03%	4.59%	3.02%

Correlation

The correlation between CMCL and HYMC is 0.48, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.48
Correlation (3Y) Calculated over the trailing 3-year period	0.39
Correlation (5Y) Calculated over the trailing 5-year period	0.33
Correlation (All Time) Calculated using the full available price history since Mar 13, 2018	0.25

Over the past year, CMCL and HYMC have become more correlated (0.48) than their long-term average of 0.25, meaning their price movements have been converging.

Fundamentals

Market Cap CMCL : $390.18M HYMC : $2.36B
EPS CMCL : $3.15 HYMC : -$1.64
PB Ratio CMCL : 1.44 HYMC : 10.56
Total Revenue (TTM) CMCL : $274.16M HYMC : $0.00
Gross Profit (TTM) CMCL : $142.30M HYMC : -$4.65M
EBITDA (TTM) CMCL : $137.13M HYMC : -$69.17M

Return for Risk

CMCL vs. HYMC — Risk / Return Rank

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

CMCL

CMCL Risk / Return Rank: 46
CMCL Sharpe Ratio Rank: 47
CMCL Sortino Ratio Rank: 47
CMCL Omega Ratio Rank: 46
CMCL Calmar Ratio Rank: 47
CMCL Martin Ratio Rank: 46

HYMC

HYMC Risk / Return Rank: 96
HYMC Sharpe Ratio Rank: 98
HYMC Sortino Ratio Rank: 94
HYMC Omega Ratio Rank: 92
HYMC Calmar Ratio Rank: 97
HYMC Martin Ratio Rank: 97

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.

CMCL vs. HYMC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Caledonia Mining Corporation Plc (CMCL) and Hycroft Mining Holding Corporation (HYMC). 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.

	CMCL	HYMC	Difference
Sharpe ratio: Return per unit of total volatility	0.13	4.28	-4.15
Sortino ratio: Return per unit of downside risk	0.61	3.72	-3.11
Omega ratio: Gain probability vs. loss probability	1.08	1.46	-0.38
Calmar ratio: Return relative to maximum drawdown	0.18	9.69	-9.51
Martin ratio: Return relative to average drawdown	0.35	22.66	-22.31
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CMCL vs. HYMC - Sharpe Ratio Comparison

The current CMCL Sharpe Ratio is 0.13, which is lower than the HYMC Sharpe Ratio of 4.28. The chart below compares the historical Sharpe Ratios of CMCL and HYMC, 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

	CMCL	HYMC	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.13	4.28	-4.15
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.22	-0.04	+0.26
Sharpe Ratio (All Time) Calculated using the full available price history	0.33	-0.12	+0.45

Drawdowns

CMCL vs. HYMC - Drawdown Comparison

The maximum CMCL drawdown since its inception was -65.77%, smaller than the maximum HYMC drawdown of -98.89%. Use the drawdown chart below to compare losses from any high point for CMCL and HYMC.

Drawdown Indicators

	CMCL	HYMC	Difference
Max Drawdown Largest peak-to-trough decline	-65.77%	-98.89%	+33.12%
Max Drawdown (1Y) Largest decline over 1 year	-46.89%	-52.76%	+5.87%
Max Drawdown (3Y) Largest decline over 3 years	-46.89%	-63.45%	+16.56%
Max Drawdown (5Y) Largest decline over 5 years	-50.00%	-95.18%	+45.18%
Current Drawdown Current decline from peak	-46.89%	-83.36%	+36.47%
Average Drawdown Average peak-to-trough decline	-35.78%	-63.35%	+27.57%
Ulcer Index Depth and duration of drawdowns from previous peaks	24.39%	22.51%	+1.88%

Volatility

CMCL vs. HYMC - Volatility Comparison

The current volatility for Caledonia Mining Corporation Plc (CMCL) is 13.82%, while Hycroft Mining Holding Corporation (HYMC) has a volatility of 26.05%. This indicates that CMCL experiences smaller price fluctuations and is considered to be less risky than HYMC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CMCL	HYMC	Difference
Volatility (1M) Calculated over the trailing 1-month period	13.82%	26.05%	-12.23%
Volatility (6M) Calculated over the trailing 6-month period	47.23%	94.84%	-47.61%
Volatility (1Y) Calculated over the trailing 1-year period	65.15%	119.54%	-54.39%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	52.69%	152.53%	-99.84%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	54.58%	123.03%	-68.45%

Dividends

CMCL vs. HYMC - Dividend Comparison

CMCL's dividend yield for the trailing twelve months is around 2.84%, while HYMC has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
CMCL Caledonia Mining Corporation Plc	2.84%	2.14%	5.95%	4.59%	4.52%	4.29%	2.11%	3.27%	5.23%	1.86%
HYMC Hycroft Mining Holding Corporation	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Financials

Frequently Asked Questions

Can I hold both CMCL and HYMC in my portfolio?

CMCL and HYMC have a correlation of 0.48, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CMCL or HYMC?

HYMC has higher volatility (26.05%) compared to CMCL (13.82%). In terms of maximum drawdown, CMCL dropped -65.77% vs HYMC's -98.89%.

Which has better risk-adjusted returns?

HYMC currently has the higher Sharpe Ratio (4.28 vs 0.13), 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.