IIPR vs. HL
IIPR (Innovative Industrial Properties, Inc.) and HL (Hecla Mining Company) are both stocks. IIPR operates in REIT - Industrial (Real Estate), while HL operates in Gold (Basic Materials). Over the past 5 years, IIPR returned -13.57%/yr vs 11.61%/yr for HL. At a 0.19 correlation, their price movements are largely independent.
Performance
IIPR vs. HL - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, IIPR achieves a 32.69% return, which is significantly higher than HL's -20.29% return.
IIPR
- 1D
- -2.07%
- 1M
- 12.06%
- YTD
- 32.69%
- 6M
- 15.09%
- 1Y
- 24.22%
- 3Y*
- 4.81%
- 5Y*
- -13.57%
- 10Y*
- —
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%
IIPR vs. HL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IIPR Innovative Industrial Properties, Inc. | 32.69% | -18.40% | -28.55% | 8.78% | -59.02% | 47.49% | 151.33% | 72.52% | 43.88% | 82.30% |
HL Hecla Mining Company | -20.29% | 291.70% | 2.82% | -12.93% | 6.99% | -18.97% | 91.83% | 44.43% | -40.37% | -24.08% |
Correlation
The correlation between IIPR and HL is 0.11, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.11 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.21 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.23 |
Correlation (All Time) Calculated using the full available price history since Dec 1, 2016 | 0.19 |
The correlation between IIPR and HL shifts across timeframes, from 0.11 (1 year) to 0.23 (5 years), reflecting how their relationship changes across market environments.
Fundamentals
IIPR:
$1.72B
HL:
$10.32B
IIPR:
$4.14
HL:
$0.84
IIPR:
14.62
HL:
18.18
IIPR:
6.51
HL:
6.47
IIPR:
0.96
HL:
4.02
IIPR:
$263.23M
HL:
$1.57B
IIPR:
$195.78M
HL:
$788.95M
IIPR:
$210.04M
HL:
$864.40M
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
IIPR vs. HL — Risk / Return Rank
IIPR
HL
IIPR vs. HL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Innovative Industrial Properties, Inc. (IIPR) and Hecla Mining Company (HL). 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.
| IIPR | HL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.60 | ||
| Sortino ratioReturn per unit of downside risk | -1.46 | ||
| Omega ratioGain probability vs. loss probability | 1.14 | 1.32 | -0.18 |
| Calmar ratioReturn relative to maximum drawdown | 1.09 | 2.80 | -1.72 |
| Martin ratioReturn relative to average drawdown | 2.65 | 6.33 | -3.68 |
Loading charts...
Drawdowns
IIPR vs. HL - Drawdown Comparison
The maximum IIPR drawdown since its inception was -78.42%, smaller than the maximum HL drawdown of -97.92%. Use the drawdown chart below to compare losses from any high point for IIPR and HL.
Loading charts...
Drawdown Indicators
| IIPR | HL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -78.42% | -97.92% | +19.50% |
Max Drawdown (1Y)Largest decline over 1 year | -21.29% | -55.81% | +34.52% |
Max Drawdown (3Y)Largest decline over 3 years | -62.92% | -55.81% | -7.11% |
Max Drawdown (5Y)Largest decline over 5 years | -78.42% | -61.04% | -17.38% |
Max Drawdown (10Y)Largest decline over 10 years | — | -82.45% | — |
Current DrawdownCurrent decline from peak | -68.14% | -51.91% | -16.23% |
Average DrawdownAverage peak-to-trough decline | -37.34% | -69.93% | +32.59% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 8.73% | 24.67% | -15.94% |
Volatility
IIPR vs. HL - Volatility Comparison
The current volatility for Innovative Industrial Properties, Inc. (IIPR) is 9.13%, while Hecla Mining Company (HL) has a volatility of 22.72%. This indicates that IIPR experiences smaller price fluctuations and is considered to be less risky than HL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| IIPR | HL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.13% | 22.72% | -13.59% |
Volatility (6M)Calculated over the trailing 6-month period | 30.31% | 54.93% | -24.62% |
Volatility (1Y)Calculated over the trailing 1-year period | 41.56% | 72.59% | -31.03% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 41.71% | 59.35% | -17.64% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 48.46% | 62.77% | -14.31% |
Dividends
IIPR vs. HL - Dividend Comparison
IIPR's dividend yield for the trailing twelve months is around 12.56%, more than HL's 0.10% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
IIPR Innovative Industrial Properties, Inc. | 12.56% | 16.05% | 11.28% | 7.16% | 7.01% | 2.18% | 2.44% | 3.73% | 1.87% | 1.70% | 0.00% | 0.00% |
Financials
IIPR vs. HL - Financials Comparison
This section allows you to compare key financial metrics between Innovative Industrial Properties, Inc. and Hecla Mining Company. 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
IIPR vs. HL - Profitability Comparison
IIPR - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Innovative Industrial Properties, Inc. reported a gross profit of 61.42M and revenue of 69.00M. Therefore, the gross margin over that period was 89.0%.
HL - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Hecla Mining Company reported a gross profit of 253.26M and revenue of 411.43M. Therefore, the gross margin over that period was 61.6%.
IIPR - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Innovative Industrial Properties, Inc. reported an operating income of 32.91M and revenue of 69.00M, resulting in an operating margin of 47.7%.
HL - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Hecla Mining Company reported an operating income of 223.11M and revenue of 411.43M, resulting in an operating margin of 54.2%.
IIPR - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Innovative Industrial Properties, Inc. reported a net income of 30.16M and revenue of 69.00M, resulting in a net margin of 43.7%.
HL - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Hecla Mining Company reported a net income of 266.45M and revenue of 411.43M, resulting in a net margin of 64.8%.
Frequently Asked Questions
IIPR and HL have a correlation of 0.11, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
HL has higher volatility (22.72%) compared to IIPR (9.13%). In terms of maximum drawdown, IIPR dropped -78.42% vs HL's -97.92%.
HL currently has the higher Sharpe Ratio (2.16 vs 0.56), 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.
Find the right allocation for IIPR and HL
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer