HMY vs. SLV
HMY (Harmony Gold Mining Company Limited) is a stock, while SLV (iShares Silver Trust) is Silver fund tracking the LBMA Silver Price. Over the past 10 years, HMY returned 18.56%/yr vs 15.63%/yr for SLV. A 0.58 correlation means they provide meaningful diversification when combined.
Performance
HMY vs. SLV - Performance Comparison
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Returns By Period
In the year-to-date period, HMY achieves a -11.34% return, which is significantly lower than SLV's 3.97% return. Over the past 10 years, HMY has outperformed SLV with an annualized return of 18.56%, while SLV has yielded a comparatively lower 15.63% annualized return.
HMY
- 1D
- 1.11%
- 1M
- 11.10%
- YTD
- -11.34%
- 6M
- -7.82%
- 1Y
- 18.68%
- 3Y*
- 58.18%
- 5Y*
- 29.48%
- 10Y*
- 18.56%
SLV
- 1D
- 1.16%
- 1M
- 1.62%
- YTD
- 3.97%
- 6M
- 29.40%
- 1Y
- 113.72%
- 3Y*
- 45.73%
- 5Y*
- 21.04%
- 10Y*
- 15.63%
HMY vs. SLV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
HMY Harmony Gold Mining Company Limited | -11.34% | 145.47% | 35.39% | 82.51% | -16.42% | -10.25% | 28.93% | 102.79% | -4.28% | -12.94% |
SLV iShares Silver Trust | 3.97% | 144.66% | 20.89% | -1.09% | 2.37% | -12.45% | 47.30% | 14.88% | -9.19% | 5.82% |
Correlation
The correlation between HMY and SLV is 0.68, 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 | 0.68 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.64 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.64 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.60 |
Correlation (All Time) Calculated using the full available price history since May 1, 2006 | 0.58 |
The correlation between HMY and SLV shifts across timeframes, from 0.58 (all time) to 0.68 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
HMY vs. SLV — Risk / Return Rank
HMY
SLV
HMY vs. SLV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Harmony Gold Mining Company Limited (HMY) and iShares Silver Trust (SLV). 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 | SLV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.65 | ||
| Sortino ratioReturn per unit of downside risk | -1.25 | ||
| Omega ratioGain probability vs. loss probability | 1.11 | 1.36 | -0.25 |
| Calmar ratioReturn relative to maximum drawdown | 0.38 | 2.69 | -2.31 |
| Martin ratioReturn relative to average drawdown | 0.88 | 5.76 | -4.88 |
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 | SLV | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.29 | 1.94 | -1.65 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.51 | 0.58 | -0.08 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.30 | 0.49 | -0.19 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.06 | 0.25 | -0.19 |
Drawdowns
HMY vs. SLV - Drawdown Comparison
The maximum HMY drawdown since its inception was -97.04%, which is greater than SLV's maximum drawdown of -76.28%. Use the drawdown chart below to compare losses from any high point for HMY and SLV.
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Drawdown Indicators
| HMY | SLV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -97.04% | -76.28% | -20.76% |
Max Drawdown (1Y)Largest decline over 1 year | -48.85% | -42.45% | -6.40% |
Max Drawdown (3Y)Largest decline over 3 years | -48.85% | -42.45% | -6.40% |
Max Drawdown (5Y)Largest decline over 5 years | -62.48% | -42.45% | -20.03% |
Max Drawdown (10Y)Largest decline over 10 years | -71.05% | -42.81% | -28.24% |
Current DrawdownCurrent decline from peak | -32.24% | -36.57% | +4.33% |
Average DrawdownAverage peak-to-trough decline | -52.76% | -44.67% | -8.09% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 21.18% | 19.81% | +1.37% |
Volatility
HMY vs. SLV - Volatility Comparison
Harmony Gold Mining Company Limited (HMY) has a higher volatility of 20.90% compared to iShares Silver Trust (SLV) at 16.34%. This indicates that HMY's price experiences larger fluctuations and is considered to be riskier than SLV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HMY | SLV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 20.90% | 16.34% | +4.56% |
Volatility (6M)Calculated over the trailing 6-month period | 47.32% | 58.31% | -10.99% |
Volatility (1Y)Calculated over the trailing 1-year period | 63.81% | 58.90% | +4.91% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 58.37% | 36.15% | +22.22% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 61.13% | 31.83% | +29.30% |
Dividends
HMY vs. SLV - Dividend Comparison
HMY's dividend yield for the trailing twelve months is around 2.32%, while SLV has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
HMY Harmony Gold Mining Company Limited | 2.32% | 1.07% | 1.59% | 0.66% | 1.14% | 2.23% | 0.00% | 0.00% | 0.00% | 3.13% | 1.37% |
SLV iShares Silver Trust | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
HMY and SLV have a correlation of 0.68, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
HMY has higher volatility (20.90%) compared to SLV (16.34%). In terms of maximum drawdown, HMY dropped -97.04% vs SLV's -76.28%.
SLV currently has the higher Sharpe Ratio (1.94 vs 0.29), 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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