HMY vs. AEM
HMY (Harmony Gold Mining Company Limited) and AEM (Agnico Eagle Mines Limited) are both stocks. Both operate in the Gold industry within the Basic Materials sector. Over the past 10 years, HMY returned 16.88%/yr vs 14.51%/yr for AEM. A 0.64 correlation means they provide meaningful diversification when combined.
Performance
HMY vs. AEM - Performance Comparison
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Returns By Period
In the year-to-date period, HMY achieves a -21.43% return, which is significantly lower than AEM's -3.97% return. Over the past 10 years, HMY has outperformed AEM with an annualized return of 16.88%, while AEM has yielded a comparatively lower 14.51% annualized return.
HMY
- 1D
- -2.36%
- 1M
- -13.77%
- YTD
- -21.43%
- 6M
- -16.57%
- 1Y
- 7.92%
- 3Y*
- 53.04%
- 5Y*
- 28.64%
- 10Y*
- 16.88%
AEM
- 1D
- -0.95%
- 1M
- -15.89%
- YTD
- -3.97%
- 6M
- -1.17%
- 1Y
- 38.70%
- 3Y*
- 49.86%
- 5Y*
- 20.89%
- 10Y*
- 14.51%
HMY vs. AEM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
HMY Harmony Gold Mining Company Limited | -21.43% | 145.47% | 35.39% | 82.51% | -16.42% | -10.25% | 28.93% | 102.79% | -4.28% | -12.94% |
AEM Agnico Eagle Mines Limited | -3.97% | 119.53% | 46.04% | 8.98% | 1.08% | -22.81% | 17.39% | 54.18% | -11.51% | 10.92% |
Correlation
The correlation between HMY and AEM is 0.79, 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 | 0.79 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.75 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.74 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.68 |
Correlation (All Time) Calculated using the full available price history since Oct 1, 1996 | 0.64 |
The correlation between HMY and AEM shifts across timeframes, from 0.64 (all time) to 0.79 (1 year), reflecting how their relationship changes across market environments.
Fundamentals
HMY:
$9.69B
AEM:
$81.34B
HMY:
$41.64
AEM:
$10.60
HMY:
0.37
AEM:
15.30
HMY:
0.00
AEM:
0.24
HMY:
0.06
AEM:
6.04
HMY:
0.19
AEM:
3.10
HMY:
$150.28B
AEM:
$13.51B
HMY:
$57.55B
AEM:
$8.28B
HMY:
$55.56B
AEM:
$9.72B
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Return for Risk
HMY vs. AEM — Risk / Return Rank
HMY
AEM
HMY vs. AEM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Harmony Gold Mining Company Limited (HMY) and Agnico Eagle Mines Limited (AEM). 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.
| HMY | AEM | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.77 | ||
| Sortino ratioReturn per unit of downside risk | -0.69 | ||
| Omega ratioGain probability vs. loss probability | 1.08 | 1.18 | -0.10 |
| Calmar ratioReturn relative to maximum drawdown | 0.16 | 1.09 | -0.93 |
| Martin ratioReturn relative to average drawdown | 0.37 | 2.96 | -2.59 |
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
| HMY | AEM | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.12 | 0.89 | -0.77 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.49 | 0.57 | -0.08 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.28 | 0.39 | -0.11 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.05 | 0.16 | -0.11 |
Drawdowns
HMY vs. AEM - Drawdown Comparison
The maximum HMY drawdown since its inception was -97.04%, which is greater than AEM's maximum drawdown of -90.49%. Use the drawdown chart below to compare losses from any high point for HMY and AEM.
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Drawdown Indicators
| HMY | AEM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -97.04% | -90.49% | -6.55% |
Max Drawdown (1Y)Largest decline over 1 year | -48.85% | -35.56% | -13.29% |
Max Drawdown (3Y)Largest decline over 3 years | -48.85% | -35.56% | -13.29% |
Max Drawdown (5Y)Largest decline over 5 years | -62.48% | -46.22% | -16.26% |
Max Drawdown (10Y)Largest decline over 10 years | -71.05% | -53.86% | -17.19% |
Current DrawdownCurrent decline from peak | -39.96% | -35.56% | -4.40% |
Average DrawdownAverage peak-to-trough decline | -52.76% | -46.66% | -6.10% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 21.37% | 13.12% | +8.25% |
Volatility
HMY vs. AEM - Volatility Comparison
Harmony Gold Mining Company Limited (HMY) has a higher volatility of 19.79% compared to Agnico Eagle Mines Limited (AEM) at 14.34%. This indicates that HMY's price experiences larger fluctuations and is considered to be riskier than AEM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HMY | AEM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 19.79% | 14.34% | +5.45% |
Volatility (6M)Calculated over the trailing 6-month period | 48.34% | 35.53% | +12.81% |
Volatility (1Y)Calculated over the trailing 1-year period | 64.38% | 43.68% | +20.70% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 58.49% | 36.98% | +21.51% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 61.19% | 37.31% | +23.88% |
Dividends
HMY vs. AEM - Dividend Comparison
HMY's dividend yield for the trailing twelve months is around 2.62%, more than AEM's 1.05% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
AEM Agnico Eagle Mines Limited | 1.05% | 0.94% | 2.05% | 2.92% | 3.08% | 2.63% | 2.36% | 0.89% | 1.09% | 0.89% | 0.86% | 1.22% |
HMY Harmony Gold Mining Company Limited | 2.62% | 1.07% | 1.59% | 0.66% | 1.14% | 2.23% | 0.00% | 0.00% | 0.00% | 3.13% | 1.37% | 0.00% |
Financials
HMY vs. AEM - Financials Comparison
This section allows you to compare key financial metrics between Harmony Gold Mining Company Limited and Agnico Eagle Mines Limited. 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
HMY vs. AEM - Profitability Comparison
HMY - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Harmony Gold Mining Company Limited reported a gross profit of 20.53B and revenue of 46.57B. Therefore, the gross margin over that period was 44.1%.
AEM - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Agnico Eagle Mines Limited reported a gross profit of 2.72B and revenue of 4.10B. Therefore, the gross margin over that period was 66.4%.
HMY - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Harmony Gold Mining Company Limited reported an operating income of 19.36B and revenue of 46.57B, resulting in an operating margin of 41.6%.
AEM - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Agnico Eagle Mines Limited reported an operating income of 2.56B and revenue of 4.10B, resulting in an operating margin of 62.4%.
HMY - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Harmony Gold Mining Company Limited reported a net income of 9.29B and revenue of 46.57B, resulting in a net margin of 19.9%.
AEM - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Agnico Eagle Mines Limited reported a net income of 1.70B and revenue of 4.10B, resulting in a net margin of 41.4%.
Frequently Asked Questions
HMY and AEM have a correlation of 0.79, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
HMY has higher volatility (19.79%) compared to AEM (14.34%). In terms of maximum drawdown, HMY dropped -97.04% vs AEM's -90.49%.
AEM currently has the higher Sharpe Ratio (0.89 vs 0.12), 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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