HBM vs. ASM
HBM (Hudbay Minerals Inc.) and ASM (Avino Silver & Gold Mines Ltd.) are both stocks. Both are in the Basic Materials sector — HBM in Copper, ASM in Other Precious Metals & Mining. Over the past 10 years, HBM returned 17.80%/yr vs 9.53%/yr for ASM. At a 0.33 correlation, their price movements are largely independent.
Performance
HBM vs. ASM - Performance Comparison
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Returns By Period
In the year-to-date period, HBM achieves a 15.89% return, which is significantly higher than ASM's -9.18% return. Over the past 10 years, HBM has outperformed ASM with an annualized return of 17.80%, while ASM has yielded a comparatively lower 9.53% annualized return.
HBM
- 1D
- -9.35%
- 1M
- -5.71%
- YTD
- 15.89%
- 6M
- 15.83%
- 1Y
- 135.59%
- 3Y*
- 70.71%
- 5Y*
- 28.26%
- 10Y*
- 17.80%
ASM
- 1D
- -4.08%
- 1M
- -13.63%
- YTD
- -9.18%
- 6M
- -16.69%
- 1Y
- 64.91%
- 3Y*
- 104.83%
- 5Y*
- 38.17%
- 10Y*
- 9.53%
HBM vs. ASM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
HBM Hudbay Minerals Inc. | 15.89% | 145.46% | 47.03% | 9.24% | -29.87% | 3.82% | 69.50% | -11.77% | -46.20% | 54.77% |
ASM Avino Silver & Gold Mines Ltd. | -9.18% | 604.88% | 68.13% | -22.95% | -21.01% | -33.77% | 124.14% | -4.92% | -54.48% | -2.19% |
Correlation
The correlation between HBM and ASM is 0.64, 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 | 0.64 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.56 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.52 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.39 |
Correlation (All Time) Calculated using the full available price history since Feb 13, 2009 | 0.33 |
Over the past year, HBM and ASM have become more correlated (0.64) than their long-term average of 0.33, meaning their price movements have been converging.
Fundamentals
HBM:
$9.17B
ASM:
$979.26M
HBM:
$1.65
ASM:
$0.23
HBM:
13.90
ASM:
24.82
HBM:
0.10
ASM:
0.07
HBM:
3.87
ASM:
8.27
HBM:
2.59
ASM:
3.54
HBM:
$2.37B
ASM:
$110.70M
HBM:
$828.54M
ASM:
$59.09M
HBM:
$1.54B
ASM:
$55.20M
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Return for Risk
HBM vs. ASM — Risk / Return Rank
HBM
ASM
HBM vs. ASM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Hudbay Minerals Inc. (HBM) and Avino Silver & Gold Mines Ltd. (ASM). 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 | ASM | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.46 | ||
| Sortino ratioReturn per unit of downside risk | +1.07 | ||
| Omega ratioGain probability vs. loss probability | 1.34 | 1.18 | +0.16 |
| Calmar ratioReturn relative to maximum drawdown | 3.77 | 1.25 | +2.53 |
| Martin ratioReturn relative to average drawdown | 11.42 | 2.55 | +8.87 |
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Drawdowns
HBM vs. ASM - Drawdown Comparison
The maximum HBM drawdown since its inception was -92.21%, roughly equal to the maximum ASM drawdown of -94.10%. Use the drawdown chart below to compare losses from any high point for HBM and ASM.
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Drawdown Indicators
| HBM | ASM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -92.21% | -94.10% | +1.89% |
Max Drawdown (1Y)Largest decline over 1 year | -36.16% | -52.40% | +16.24% |
Max Drawdown (3Y)Largest decline over 3 years | -41.11% | -52.40% | +11.29% |
Max Drawdown (5Y)Largest decline over 5 years | -63.33% | -63.94% | +0.61% |
Max Drawdown (10Y)Largest decline over 10 years | -86.34% | -90.91% | +4.57% |
Current DrawdownCurrent decline from peak | -27.84% | -49.82% | +21.98% |
Average DrawdownAverage peak-to-trough decline | -52.39% | -63.74% | +11.35% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 11.92% | 25.56% | -13.64% |
Volatility
HBM vs. ASM - Volatility Comparison
Hudbay Minerals Inc. (HBM) and Avino Silver & Gold Mines Ltd. (ASM) have volatilities of 28.10% and 27.54%, 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.
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Volatility by Period
| HBM | ASM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 28.10% | 27.54% | +0.56% |
Volatility (6M)Calculated over the trailing 6-month period | 49.92% | 66.19% | -16.27% |
Volatility (1Y)Calculated over the trailing 1-year period | 60.78% | 82.72% | -21.94% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 55.75% | 66.21% | -10.46% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 58.85% | 69.80% | -10.95% |
Dividends
HBM vs. ASM - Dividend Comparison
HBM's dividend yield for the trailing twelve months is around 0.09%, while ASM has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ASM Avino Silver & Gold Mines Ltd. | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
HBM Hudbay Minerals Inc. | 0.09% | 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. ASM - Financials Comparison
This section allows you to compare key financial metrics between Hudbay Minerals Inc. and Avino Silver & Gold Mines Ltd.. 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. ASM - 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%.
ASM - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Avino Silver & Gold Mines Ltd. reported a gross profit of 25.51M and revenue of 41.41M. Therefore, the gross margin over that period was 61.6%.
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%.
ASM - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Avino Silver & Gold Mines Ltd. reported an operating income of 21.76M and revenue of 41.41M, resulting in an operating margin of 52.5%.
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%.
ASM - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Avino Silver & Gold Mines Ltd. reported a net income of 15.69M and revenue of 41.41M, resulting in a net margin of 37.9%.
Frequently Asked Questions
HBM and ASM have a correlation of 0.64, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
HBM has higher volatility (28.10%) compared to ASM (27.54%). In terms of maximum drawdown, HBM dropped -92.21% vs ASM's -94.10%.
HBM currently has the higher Sharpe Ratio (2.24 vs 0.79), 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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