HBM.TO vs. ^TNX
HBM.TO (Hudbay Minerals Inc.) is a stock, while ^TNX (Treasury Yield 10 Years) is an index. Over the past 10 years, HBM.TO returned 23.71%/yr vs 10.89%/yr for ^TNX. At a 0.08 correlation, their price movements are largely independent.
Performance
HBM.TO vs. ^TNX - Performance Comparison
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Different Trading Currencies
HBM.TO is traded in CAD, while ^TNX is traded in USD. To make them comparable, the ^TNX values have been converted to CAD using the latest available exchange rates.
Returns By Period
In the year-to-date period, HBM.TO achieves a 61.78% return, which is significantly higher than ^TNX's 8.43% return. Over the past 10 years, HBM.TO has outperformed ^TNX with an annualized return of 23.71%, while ^TNX has yielded a comparatively lower 10.89% annualized return.
HBM.TO
- 1D
- 4.01%
- 1M
- 42.07%
- YTD
- 61.78%
- 6M
- 91.84%
- 1Y
- 252.33%
- 3Y*
- 90.60%
- 5Y*
- 38.01%
- 10Y*
- 23.71%
^TNX
- 1D
- 0.88%
- 1M
- 4.13%
- YTD
- 8.43%
- 6M
- 8.54%
- 1Y
- 1.23%
- 3Y*
- 7.73%
- 5Y*
- 26.47%
- 10Y*
- 10.89%
HBM.TO vs. ^TNX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
HBM.TO Hudbay Minerals Inc. | 61.78% | 134.08% | 60.29% | 6.88% | -25.13% | 3.05% | 66.44% | -16.44% | -41.80% | 45.20% |
^TNX Treasury Yield 10 Years | 8.43% | -13.14% | 28.45% | -2.53% | 174.83% | 63.40% | -53.02% | -32.07% | 21.16% | -7.94% |
Correlation
The correlation between HBM.TO and ^TNX is -0.22, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.22 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.14 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.09 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.04 |
Correlation (All Time) Calculated using the full available price history since Jun 23, 2009 | 0.08 |
The correlation between HBM.TO and ^TNX shifts across timeframes, from -0.22 (1 year) to 0.08 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
HBM.TO vs. ^TNX — Risk / Return Rank
HBM.TO
^TNX
HBM.TO vs. ^TNX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Hudbay Minerals Inc. (HBM.TO) and Treasury Yield 10 Years (^TNX). 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.
| HBM.TO | ^TNX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 4.69 | 0.12 | +4.57 |
Sortino ratioReturn per unit of downside risk | 4.21 | 0.30 | +3.91 |
Omega ratioGain probability vs. loss probability | 1.56 | 1.03 | +0.53 |
Calmar ratioReturn relative to maximum drawdown | 7.25 | 0.11 | +7.14 |
Martin ratioReturn relative to average drawdown | 24.23 | 0.22 | +24.00 |
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
| HBM.TO | ^TNX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 4.69 | 0.12 | +4.57 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.74 | 0.80 | -0.05 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.43 | 0.23 | +0.20 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.00 | 0.05 | -0.05 |
Drawdowns
HBM.TO vs. ^TNX - Drawdown Comparison
The maximum HBM.TO drawdown since its inception was -92.86%, which is greater than ^TNX's maximum drawdown of -83.97%. Use the drawdown chart below to compare losses from any high point for HBM.TO and ^TNX.
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Drawdown Indicators
| HBM.TO | ^TNX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -92.86% | -83.97% | -8.89% |
Max Drawdown (1Y)Largest decline over 1 year | -35.94% | -12.47% | -23.47% |
Max Drawdown (3Y)Largest decline over 3 years | -38.61% | -28.10% | -10.51% |
Max Drawdown (5Y)Largest decline over 5 years | -62.23% | -28.10% | -34.13% |
Max Drawdown (10Y)Largest decline over 10 years | -84.01% | -83.93% | -0.08% |
Current DrawdownCurrent decline from peak | 0.00% | -10.31% | +10.31% |
Average DrawdownAverage peak-to-trough decline | -61.92% | -32.53% | -29.39% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 10.76% | 6.24% | +4.52% |
Volatility
HBM.TO vs. ^TNX - Volatility Comparison
Hudbay Minerals Inc. (HBM.TO) has a higher volatility of 19.37% compared to Treasury Yield 10 Years (^TNX) at 5.54%. This indicates that HBM.TO's price experiences larger fluctuations and is considered to be riskier than ^TNX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HBM.TO | ^TNX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 19.37% | 5.54% | +13.83% |
Volatility (6M)Calculated over the trailing 6-month period | 42.44% | 11.77% | +30.67% |
Volatility (1Y)Calculated over the trailing 1-year period | 54.17% | 17.05% | +37.12% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 51.63% | 33.45% | +18.18% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 55.44% | 48.32% | +7.12% |
Frequently Asked Questions
HBM.TO and ^TNX have a correlation of -0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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