HL vs. HEIA.AS

Last updated Jun 13, 2026

HL (Hecla Mining Company) and HEIA.AS (Heineken N.V.) are both stocks. HL operates in Gold (Basic Materials), while HEIA.AS operates in Beverages - Brewers (Consumer Defensive). Over the past 10 years, HL returned 13.95%/yr vs 1.03%/yr for HEIA.AS. At a 0.16 correlation, their price movements are largely independent.

Performance

HL vs. HEIA.AS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Hecla Mining Company (HL) and Heineken N.V. (HEIA.AS). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

HL is traded in USD, while HEIA.AS is traded in EUR. To make them comparable, the HEIA.AS values have been converted to USD using the latest available exchange rates.

Returns By Period

In the year-to-date period, HL achieves a -20.29% return, which is significantly lower than HEIA.AS's 1.34% return. Over the past 10 years, HL has outperformed HEIA.AS with an annualized return of 13.95%, while HEIA.AS has yielded a comparatively lower 1.03% annualized return.

HL

• 1D: 2.00%
• 1M: -13.30%
• YTD: -20.29%
• 6M: -18.68%
• 1Y: 154.71%
• 3Y*: 42.93%
• 5Y*: 11.61%
• 10Y*: 13.95%

HEIA.AS

• 1D: -0.30%
• 1M: 7.83%
• YTD: 1.34%
• 6M: 1.53%
• 1Y: -7.03%
• 3Y*: -4.80%
• 5Y*: -5.32%
• 10Y*: 1.03%

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

HL vs. HEIA.AS - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
HL Hecla Mining Company	-20.29%	291.70%	2.82%	-12.93%	6.99%	-18.97%	91.83%	44.43%	-40.37%	-24.08%
HEIA.AS Heineken N.V.	1.34%	18.10%	-28.49%	10.08%	-15.15%	2.02%	6.07%	22.65%	-13.85%	41.53%

Correlation

The correlation between HL and HEIA.AS is 0.05, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.05
Correlation (3Y) Calculated over the trailing 3-year period	0.12
Correlation (5Y) Calculated over the trailing 5-year period	0.15
Correlation (10Y) Calculated over the trailing 10-year period	0.14
Correlation (All Time) Calculated using the full available price history since Jun 4, 2007	0.16

The correlation between HL and HEIA.AS shifts across timeframes, from 0.05 (1 year) to 0.16 (all time), reflecting how their relationship changes across market environments.

Return for Risk

HL vs. HEIA.AS — Risk / Return Rank

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

HL

HL Risk / Return Rank: 85
HL Sharpe Ratio Rank: 91
HL Sortino Ratio Rank: 86
HL Omega Ratio Rank: 84
HL Calmar Ratio Rank: 83
HL Martin Ratio Rank: 81

HEIA.AS

HEIA.AS Risk / Return Rank: 24
HEIA.AS Sharpe Ratio Rank: 24
HEIA.AS Sortino Ratio Rank: 22
HEIA.AS Omega Ratio Rank: 22
HEIA.AS Calmar Ratio Rank: 25
HEIA.AS Martin Ratio Rank: 27

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.

HL vs. HEIA.AS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Hecla Mining Company (HL) and Heineken N.V. (HEIA.AS). 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.

	HL	HEIA.AS	Difference
Sharpe ratio: Return per unit of total volatility	2.16	-0.41	+2.57
Sortino ratio: Return per unit of downside risk	2.61	-0.41	+3.02
Omega ratio: Gain probability vs. loss probability	1.32	0.95	+0.38
Calmar ratio: Return relative to maximum drawdown	2.80	-0.45	+3.26
Martin ratio: Return relative to average drawdown	6.33	-0.74	+7.08

HL vs. HEIA.AS - Sharpe Ratio Comparison

The current HL Sharpe Ratio is 2.16, which is higher than the HEIA.AS Sharpe Ratio of -0.41. The chart below compares the historical Sharpe Ratios of HL and HEIA.AS, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

HL vs. HEIA.AS - Drawdown Comparison

The maximum HL drawdown since its inception was -97.92%, which is greater than HEIA.AS's maximum drawdown of -63.53%. Use the drawdown chart below to compare losses from any high point for HL and HEIA.AS.

Drawdown Indicators

	HL	HEIA.AS	Difference
Max Drawdown Largest peak-to-trough decline	-97.92%	-63.53%	-34.39%
Max Drawdown (1Y) Largest decline over 1 year	-55.81%	-21.14%	-34.67%
Max Drawdown (3Y) Largest decline over 3 years	-55.81%	-38.31%	-17.50%
Max Drawdown (5Y) Largest decline over 5 years	-61.04%	-43.32%	-17.72%
Max Drawdown (10Y) Largest decline over 10 years	-82.45%	-43.32%	-39.13%
Current Drawdown Current decline from peak	-51.91%	-26.90%	-25.01%
Average Drawdown Average peak-to-trough decline	-69.93%	-16.54%	-53.39%
Ulcer Index Depth and duration of drawdowns from previous peaks	24.67%	12.89%	+11.78%

Volatility

HL vs. HEIA.AS - Volatility Comparison

Hecla Mining Company (HL) has a higher volatility of 22.72% compared to Heineken N.V. (HEIA.AS) at 8.33%. This indicates that HL's price experiences larger fluctuations and is considered to be riskier than HEIA.AS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HL	HEIA.AS	Difference
Volatility (1M) Calculated over the trailing 1-month period	22.72%	8.33%	+14.39%
Volatility (6M) Calculated over the trailing 6-month period	54.93%	17.22%	+37.71%
Volatility (1Y) Calculated over the trailing 1-year period	72.59%	23.24%	+49.35%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	59.35%	23.93%	+35.42%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	62.77%	22.64%	+40.13%

Dividends

HL vs. HEIA.AS - Dividend Comparison

HL's dividend yield for the trailing twelve months is around 0.10%, less than HEIA.AS's 2.69% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
HEIA.AS Heineken N.V.	2.69%	2.74%	2.52%	2.09%	1.66%	0.99%	1.14%	1.74%	1.97%	1.56%	1.94%	1.50%
HL Hecla Mining Company	0.10%	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 HL and HEIA.AS in my portfolio?

HL and HEIA.AS have a correlation of 0.05, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.