HBM vs. AJG
HBM (Hudbay Minerals Inc.) and AJG (Arthur J. Gallagher & Co.) are both stocks. HBM operates in Copper (Basic Materials), while AJG operates in Insurance Brokers (Financial Services). Over the past 10 years, HBM returned 19.31%/yr vs 18.56%/yr for AJG. At a 0.23 correlation, their price movements are largely independent.
Performance
HBM vs. AJG - Performance Comparison
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Returns By Period
In the year-to-date period, HBM achieves a 40.23% return, which is significantly higher than AJG's -14.95% return. Both investments have delivered pretty close results over the past 10 years, with HBM having a 19.31% annualized return and AJG not far behind at 18.56%.
HBM
- 1D
- 4.43%
- 1M
- 0.32%
- YTD
- 40.23%
- 6M
- 49.02%
- 1Y
- 189.83%
- 3Y*
- 78.89%
- 5Y*
- 31.42%
- 10Y*
- 19.31%
AJG
- 1D
- -1.00%
- 1M
- 14.28%
- YTD
- -14.95%
- 6M
- -13.82%
- 1Y
- -30.92%
- 3Y*
- 2.53%
- 5Y*
- 9.77%
- 10Y*
- 18.56%
HBM vs. AJG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
HBM Hudbay Minerals Inc. | 40.23% | 145.46% | 47.03% | 9.24% | -29.87% | 3.82% | 69.50% | -11.77% | -46.20% | 54.77% |
AJG Arthur J. Gallagher & Co. | -14.95% | -8.03% | 27.34% | 20.51% | 12.44% | 39.02% | 32.12% | 31.79% | 19.19% | 25.04% |
Correlation
The correlation between HBM and AJG is -0.14, 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 | -0.14 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.05 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.13 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.17 |
Correlation (All Time) Calculated using the full available price history since Feb 13, 2009 | 0.23 |
The correlation between HBM and AJG shifts across timeframes, from -0.14 (1 year) to 0.23 (all time), reflecting how their relationship changes across market environments.
Fundamentals
HBM:
$1.65
AJG:
$5.74
HBM:
16.83
AJG:
38.12
HBM:
0.12
AJG:
3.95
HBM:
4.68
AJG:
4.08
HBM:
$2.37B
AJG:
$13.94B
HBM:
$828.54M
AJG:
$7.63B
HBM:
$1.54B
AJG:
$3.66B
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Return for Risk
HBM vs. AJG — Risk / Return Rank
HBM
AJG
HBM vs. AJG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Hudbay Minerals Inc. (HBM) and Arthur J. Gallagher & Co. (AJG). 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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| HBM | AJG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +4.35 | ||
| Sortino ratioReturn per unit of downside risk | +4.75 | ||
| Omega ratioGain probability vs. loss probability | 1.44 | 0.81 | +0.63 |
| Calmar ratioReturn relative to maximum drawdown | 5.28 | -0.76 | +6.05 |
| Martin ratioReturn relative to average drawdown | 16.41 | -1.30 | +17.71 |
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Drawdowns
HBM vs. AJG - Drawdown Comparison
The maximum HBM drawdown since its inception was -92.21%, which is greater than AJG's maximum drawdown of -57.49%. Use the drawdown chart below to compare losses from any high point for HBM and AJG.
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Drawdown Indicators
| HBM | AJG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -92.21% | -57.49% | -34.72% |
Max Drawdown (1Y)Largest decline over 1 year | -36.16% | -40.64% | +4.48% |
Max Drawdown (3Y)Largest decline over 3 years | -41.11% | -44.40% | +3.29% |
Max Drawdown (5Y)Largest decline over 5 years | -63.33% | -44.40% | -18.93% |
Max Drawdown (10Y)Largest decline over 10 years | -86.34% | -44.40% | -41.94% |
Current DrawdownCurrent decline from peak | -12.68% | -36.46% | +23.78% |
Average DrawdownAverage peak-to-trough decline | -52.45% | -12.83% | -39.62% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 11.62% | 23.87% | -12.25% |
Volatility
HBM vs. AJG - Volatility Comparison
Hudbay Minerals Inc. (HBM) has a higher volatility of 25.87% compared to Arthur J. Gallagher & Co. (AJG) at 8.37%. This indicates that HBM's price experiences larger fluctuations and is considered to be riskier than AJG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HBM | AJG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 25.87% | 8.37% | +17.50% |
Volatility (6M)Calculated over the trailing 6-month period | 47.72% | 22.48% | +25.24% |
Volatility (1Y)Calculated over the trailing 1-year period | 59.13% | 27.85% | +31.28% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 55.51% | 22.98% | +32.53% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 58.82% | 23.08% | +35.74% |
Dividends
HBM vs. AJG - Dividend Comparison
HBM's dividend yield for the trailing twelve months is around 0.08%, less than AJG's 1.23% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
AJG Arthur J. Gallagher & Co. | 1.23% | 1.00% | 0.85% | 0.98% | 1.08% | 1.13% | 1.46% | 1.81% | 2.23% | 2.47% | 2.93% | 3.62% |
HBM Hudbay Minerals Inc. | 0.08% | 0.07% | 0.17% | 0.31% | 0.32% | 0.22% | 0.21% | 0.36% | 0.38% | 0.23% | 0.35% | 0.52% |
Financials
HBM vs. AJG - Financials Comparison
This section allows you to compare key financial metrics between Hudbay Minerals Inc. and Arthur J. Gallagher & Co.. 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
HBM vs. AJG - Profitability Comparison
HBM - 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 340.81M and revenue of 745.43M. Therefore, the gross margin over that period was 45.7%.
AJG - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Arthur J. Gallagher & Co. reported a gross profit of 1.42B and revenue of 3.63B. Therefore, the gross margin over that period was 39.1%.
HBM - 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 297.62M and revenue of 745.43M, resulting in an operating margin of 39.9%.
AJG - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Arthur J. Gallagher & Co. reported an operating income of 341.00M and revenue of 3.63B, resulting in an operating margin of 9.4%.
HBM - 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 187.76M and revenue of 745.43M, resulting in a net margin of 25.2%.
AJG - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Arthur J. Gallagher & Co. reported a net income of 151.00M and revenue of 3.63B, resulting in a net margin of 4.2%.
Frequently Asked Questions
HBM and AJG have a correlation of -0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
HBM has higher volatility (25.87%) compared to AJG (8.37%). In terms of maximum drawdown, HBM dropped -92.21% vs AJG's -57.49%.
HBM currently has the higher Sharpe Ratio (3.23 vs -1.12), 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.
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