HMY vs. WPM
HMY (Harmony Gold Mining Company Limited) and WPM (Wheaton Precious Metals Corp.) are both stocks. Both operate in the Gold industry within the Basic Materials sector. Over the past 10 years, HMY returned 17.69%/yr vs 20.59%/yr for WPM. A 0.67 correlation means they provide meaningful diversification when combined.
Performance
HMY vs. WPM - Performance Comparison
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Returns By Period
In the year-to-date period, HMY achieves a -18.77% return, which is significantly lower than WPM's -0.90% return. Over the past 10 years, HMY has underperformed WPM with an annualized return of 17.69%, while WPM has yielded a comparatively higher 20.59% annualized return.
HMY
- 1D
- 4.27%
- 1M
- -9.63%
- YTD
- -18.77%
- 6M
- -20.76%
- 1Y
- 8.74%
- 3Y*
- 55.21%
- 5Y*
- 29.67%
- 10Y*
- 17.69%
WPM
- 1D
- 3.05%
- 1M
- -18.24%
- YTD
- -0.90%
- 6M
- -0.91%
- 1Y
- 29.24%
- 3Y*
- 38.53%
- 5Y*
- 20.71%
- 10Y*
- 20.59%
HMY vs. WPM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
HMY Harmony Gold Mining Company Limited | -18.77% | 145.47% | 35.39% | 82.51% | -16.42% | -10.25% | 28.93% | 102.79% | -4.28% | -12.94% |
WPM Wheaton Precious Metals Corp. | -0.90% | 110.52% | 15.24% | 27.91% | -7.53% | 4.22% | 41.82% | 54.62% | -10.04% | 16.41% |
Correlation
The correlation between HMY and WPM is 0.77, 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 | 0.77 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.73 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.74 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.67 |
Correlation (All Time) Calculated using the full available price history since Jan 4, 2016 | 0.67 |
The correlation between HMY and WPM shifts across timeframes, from 0.67 (all time) to 0.77 (1 year), reflecting how their relationship changes across market environments.
Fundamentals
HMY:
$9.49B
WPM:
$52.82B
HMY:
ZAR 41.64
WPM:
$3.96
HMY:
0.36
WPM:
29.33
HMY:
0.00
WPM:
0.78
HMY:
0.06
WPM:
19.23
HMY:
0.18
WPM:
5.70
HMY:
ZAR 150.28B
WPM:
$2.75B
HMY:
ZAR 57.55B
WPM:
$2.12B
HMY:
ZAR 55.56B
WPM:
$2.38B
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Return for Risk
HMY vs. WPM — Risk / Return Rank
HMY
WPM
HMY vs. WPM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Harmony Gold Mining Company Limited (HMY) and Wheaton Precious Metals Corp. (WPM). 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.
| HMY | WPM | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.50 | ||
| Sortino ratioReturn per unit of downside risk | -0.40 | ||
| Omega ratioGain probability vs. loss probability | 1.08 | 1.14 | -0.06 |
| Calmar ratioReturn relative to maximum drawdown | 0.18 | 0.84 | -0.66 |
| Martin ratioReturn relative to average drawdown | 0.40 | 2.40 | -2.00 |
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Drawdowns
HMY vs. WPM - Drawdown Comparison
The maximum HMY drawdown since its inception was -97.04%, which is greater than WPM's maximum drawdown of -48.64%. Use the drawdown chart below to compare losses from any high point for HMY and WPM.
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Drawdown Indicators
| HMY | WPM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -97.04% | -48.64% | -48.40% |
Max Drawdown (1Y)Largest decline over 1 year | -48.85% | -34.92% | -13.93% |
Max Drawdown (3Y)Largest decline over 3 years | -48.85% | -34.92% | -13.93% |
Max Drawdown (5Y)Largest decline over 5 years | -62.48% | -43.29% | -19.19% |
Max Drawdown (10Y)Largest decline over 10 years | -71.05% | -48.64% | -22.41% |
Current DrawdownCurrent decline from peak | -37.92% | -29.73% | -8.19% |
Average DrawdownAverage peak-to-trough decline | -52.74% | -18.87% | -33.87% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 21.98% | 12.22% | +9.76% |
Volatility
HMY vs. WPM - Volatility Comparison
Harmony Gold Mining Company Limited (HMY) has a higher volatility of 21.33% compared to Wheaton Precious Metals Corp. (WPM) at 16.76%. This indicates that HMY's price experiences larger fluctuations and is considered to be riskier than WPM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HMY | WPM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 21.33% | 16.76% | +4.57% |
Volatility (6M)Calculated over the trailing 6-month period | 48.63% | 39.19% | +9.44% |
Volatility (1Y)Calculated over the trailing 1-year period | 64.67% | 45.96% | +18.71% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 58.53% | 35.44% | +23.09% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 61.20% | 36.78% | +24.42% |
Dividends
HMY vs. WPM - Dividend Comparison
HMY's dividend yield for the trailing twelve months is around 2.67%, more than WPM's 0.62% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
HMY Harmony Gold Mining Company Limited | 2.53% | 1.07% | 1.59% | 0.66% | 1.14% | 2.23% | 0.00% | 0.00% | 0.00% | 3.13% | 1.37% |
WPM Wheaton Precious Metals Corp. | 0.62% | 0.56% | 1.10% | 1.22% | 1.54% | 1.33% | 1.01% | 1.21% | 1.84% | 1.49% | 1.09% |
Financials
HMY vs. WPM - Financials Comparison
This section allows you to compare key financial metrics between Harmony Gold Mining Company Limited and Wheaton Precious Metals Corp.. 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. WPM - 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%.
WPM - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Wheaton Precious Metals Corp. reported a gross profit of 689.26M and revenue of 888.98M. Therefore, the gross margin over that period was 77.5%.
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%.
WPM - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Wheaton Precious Metals Corp. reported an operating income of 666.92M and revenue of 888.98M, resulting in an operating margin of 75.0%.
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%.
WPM - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Wheaton Precious Metals Corp. reported a net income of 573.98M and revenue of 888.98M, resulting in a net margin of 64.6%.
Frequently Asked Questions
HMY and WPM have a correlation of 0.77, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
HMY has higher volatility (21.33%) compared to WPM (16.76%). In terms of maximum drawdown, HMY dropped -97.04% vs WPM's -48.64%.
WPM currently has the higher Sharpe Ratio (0.64 vs 0.14), 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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