CTGO vs. HL

Last updated Jun 3, 2026

CTGO (Contango Ore, Inc.) and HL (Hecla Mining Company) are both stocks. Both operate in the Gold industry within the Basic Materials sector. Over the past 10 years, CTGO returned 13.11%/yr vs 15.37%/yr for HL. At a 0.11 correlation, their price movements are largely independent.

Performance

CTGO vs. HL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Contango Ore, Inc. (CTGO) 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, CTGO achieves a -25.37% return, which is significantly lower than HL's -7.21% return. Over the past 10 years, CTGO has underperformed HL with an annualized return of 13.11%, while HL has yielded a comparatively higher 15.37% annualized return.

CTGO

• 1D: 0.31%
• 1M: -14.79%
• YTD: -25.37%
• 6M: -18.22%
• 1Y: -2.76%
• 3Y*: -11.44%
• 5Y*: -1.72%
• 10Y*: 13.11%

HL

• 1D: 1.48%
• 1M: -1.42%
• YTD: -7.21%
• 6M: 1.64%
• 1Y: 216.53%
• 3Y*: 48.79%
• 5Y*: 15.42%
• 10Y*: 15.37%

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

CTGO vs. HL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
CTGO Contango Ore, Inc.	-25.37%	163.57%	-44.67%	-20.99%	-10.47%	36.53%	29.31%	-17.14%	-3.58%	-7.40%
HL Hecla Mining Company	-7.21%	291.70%	2.82%	-12.93%	6.99%	-18.97%	91.83%	44.43%	-40.37%	-24.08%

Correlation

The correlation between CTGO and HL is 0.55, 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	0.55
Correlation (3Y) Calculated over the trailing 3-year period	0.46
Correlation (5Y) Calculated over the trailing 5-year period	0.31
Correlation (10Y) Calculated over the trailing 10-year period	0.15
Correlation (All Time) Calculated using the full available price history since Jan 11, 2011	0.11

Over the past year, CTGO and HL have become more correlated (0.55) than their long-term average of 0.11, meaning their price movements have been converging.

Fundamentals

Market Cap CTGO : $339.83M HL : $12.02B
EPS CTGO : -$1.96 HL : $0.84
PB Ratio CTGO : 1.06 HL : 4.67
Total Revenue (TTM) CTGO : $0.00 HL : $1.57B
Gross Profit (TTM) CTGO : -$158.43K HL : $788.95M
EBITDA (TTM) CTGO : -$20.93M HL : $864.40M

Return for Risk

CTGO vs. HL — Risk / Return Rank

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

CTGO

CTGO Risk / Return Rank: 39
CTGO Sharpe Ratio Rank: 39
CTGO Sortino Ratio Rank: 38
CTGO Omega Ratio Rank: 37
CTGO Calmar Ratio Rank: 41
CTGO Martin Ratio Rank: 41

HL

HL Risk / Return Rank: 90
HL Sharpe Ratio Rank: 94
HL Sortino Ratio Rank: 89
HL Omega Ratio Rank: 87
HL Calmar Ratio Rank: 91
HL Martin Ratio Rank: 88

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.

CTGO vs. HL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Contango Ore, Inc. (CTGO) 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.

	CTGO	HL	Difference
Sharpe ratio Return per unit of total volatility	-0.05	3.06	-3.11
Sortino ratio Return per unit of downside risk	0.37	3.20	-2.83
Omega ratio Gain probability vs. loss probability	1.04	1.40	-0.35
Calmar ratio Return relative to maximum drawdown	0.03	5.08	-5.05
Martin ratio Return relative to average drawdown	0.08	10.73	-10.65
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CTGO vs. HL - Sharpe Ratio Comparison

The current CTGO Sharpe Ratio is -0.05, which is lower than the HL Sharpe Ratio of 3.06. The chart below compares the historical Sharpe Ratios of CTGO 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

	CTGO	HL	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.05	3.06	-3.11
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.03	0.26	-0.29
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.17	0.25	-0.08
Sharpe Ratio (All Time) Calculated using the full available price history	0.07	0.01	+0.06

Drawdowns

CTGO vs. HL - Drawdown Comparison

The maximum CTGO drawdown since its inception was -86.86%, smaller than the maximum HL drawdown of -97.92%. Use the drawdown chart below to compare losses from any high point for CTGO and HL.

Drawdown Indicators

	CTGO	HL	Difference
Max Drawdown Largest peak-to-trough decline	-86.86%	-97.92%	+11.06%
Max Drawdown (1Y) Largest decline over 1 year	-49.58%	-48.56%	-1.02%
Max Drawdown (3Y) Largest decline over 3 years	-72.48%	-48.56%	-23.92%
Max Drawdown (5Y) Largest decline over 5 years	-72.48%	-63.18%	-9.30%
Max Drawdown (10Y) Largest decline over 10 years	-72.87%	-82.45%	+9.58%
Current Drawdown Current decline from peak	-40.45%	-44.02%	+3.57%
Average Drawdown Average peak-to-trough decline	-39.03%	-69.95%	+30.92%
Ulcer Index Depth and duration of drawdowns from previous peaks	19.02%	22.99%	-3.97%

Volatility

CTGO vs. HL - Volatility Comparison

Contango Ore, Inc. (CTGO) and Hecla Mining Company (HL) have volatilities of 20.85% and 21.60%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CTGO	HL	Difference
Volatility (1M) Calculated over the trailing 1-month period	20.85%	21.60%	-0.75%
Volatility (6M) Calculated over the trailing 6-month period	50.08%	53.46%	-3.38%
Volatility (1Y) Calculated over the trailing 1-year period	61.30%	71.80%	-10.50%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	61.24%	59.02%	+2.22%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	77.17%	62.63%	+14.54%

Dividends

CTGO vs. HL - Dividend Comparison

CTGO has not paid dividends to shareholders, while HL's dividend yield for the trailing twelve months is around 0.08%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CTGO Contango Ore, Inc.	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	0.08%	0.08%	0.81%	0.65%	0.40%	0.72%	0.25%	0.29%	0.42%	0.25%	0.19%	0.53%

Financials

Frequently Asked Questions

Can I hold both CTGO and HL in my portfolio?

CTGO and HL have a correlation of 0.55, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CTGO or HL?

HL has higher volatility (21.60%) compared to CTGO (20.85%). In terms of maximum drawdown, CTGO dropped -86.86% vs HL's -97.92%.

Which has better risk-adjusted returns?

HL currently has the higher Sharpe Ratio (3.06 vs -0.05), 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.