INVX vs. HL

Last updated Jul 11, 2026

INVX (Innovex International, Inc) and HL (Hecla Mining Company) are both stocks. INVX operates in Oil & Gas Equipment & Services (Energy), while HL operates in Other Precious Metals & Mining (Basic Materials). Over the past 10 years, INVX returned -8.05%/yr vs 10.98%/yr for HL. At a 0.25 correlation, their price movements are largely independent.

Performance

INVX vs. HL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Innovex International, Inc (INVX) and Hecla Mining Company (HL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, INVX achieves a 16.46% return, which is significantly higher than HL's -17.53% return. Over the past 10 years, INVX has underperformed HL with an annualized return of -8.05%, while HL has yielded a comparatively higher 10.98% annualized return.

INVX

• 1D: 1.64%
• 1M: -11.41%
• 6M: 8.38%
• YTD: 16.46%
• 1Y: 57.22%
• 3Y*: -0.22%
• 5Y*: -4.39%
• 10Y*: -8.05%

HL

• 1D: 0.19%
• 1M: 5.54%
• 6M: -29.50%
• YTD: -17.53%
• 1Y: 150.61%
• 3Y*: 44.14%
• 5Y*: 17.81%
• 10Y*: 10.98%

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

INVX vs. HL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
INVX Innovex International, Inc	16.46%	56.55%	-39.97%	-14.35%	38.06%	-33.56%	-36.86%	56.21%	-37.04%	-20.57%
HL Hecla Mining Company	-17.53%	291.70%	2.82%	-12.93%	6.99%	-18.97%	91.83%	44.43%	-40.37%	-24.08%

Correlation

The correlation between INVX and HL is 0.14, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.14
Correlation (3Y) Calculated over the trailing 3-year period	0.18
Correlation (5Y) Calculated over the trailing 5-year period	0.26
Correlation (10Y) Calculated over the trailing 10-year period	0.21
Correlation (All Time) Calculated using the full available price history since Oct 23, 1997	0.25

The correlation between INVX and HL shifts across timeframes, from 0.14 (1 year) to 0.26 (5 years), reflecting how their relationship changes across market environments.

Fundamentals

Market Cap INVX : $1.75B HL : $10.61B
EPS INVX : $0.75 HL : $0.83
PE Ratio INVX : 34.02 HL : 19.05
PEG Ratio INVX : 0.10 HL : 0.08
PS Ratio INVX : 1.81 HL : 6.77
PB Ratio INVX : 1.70 HL : 4.15
Total Revenue (TTM) INVX : $976.87M HL : $1.57B
Gross Profit (TTM) INVX : $280.46M HL : $788.95M
EBITDA (TTM) INVX : $157.28M HL : $864.40M

Return for Risk

INVX vs. HL — Risk / Return Rank

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

INVX

INVX Risk / Return Rank: 81
INVX Sharpe Ratio Rank: 83
INVX Sortino Ratio Rank: 79
INVX Omega Ratio Rank: 77
INVX Calmar Ratio Rank: 82
INVX Martin Ratio Rank: 84

HL

HL Risk / Return Rank: 88
HL Sharpe Ratio Rank: 94
HL Sortino Ratio Rank: 89
HL Omega Ratio Rank: 87
HL Calmar Ratio Rank: 87
HL Martin Ratio Rank: 83

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.

INVX vs. HL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Innovex International, Inc (INVX) 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.

	INVX	HL	Difference
Sharpe ratio: Return per unit of total volatility	1.37	2.32	-0.95
Sortino ratio: Return per unit of downside risk	2.00	2.73	-0.74
Omega ratio: Gain probability vs. loss probability	1.24	1.33	-0.09
Calmar ratio: Return relative to maximum drawdown	2.37	3.05	-0.67
Martin ratio: Return relative to average drawdown	6.48	6.03	+0.45

INVX vs. HL - Sharpe Ratio Comparison

The current INVX Sharpe Ratio is 1.37, which is lower than the HL Sharpe Ratio of 2.32. The chart below compares the historical Sharpe Ratios of INVX and HL, 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

INVX vs. HL - Drawdown Comparison

The maximum INVX drawdown since its inception was -89.50%, smaller than the maximum HL drawdown of -97.92%. Use the drawdown chart below to compare losses from any high point for INVX and HL.

Drawdown Indicators

	INVX	HL	Difference
Max Drawdown Largest peak-to-trough decline	-89.50%	-97.92%	+8.42%
Max Drawdown (1Y) Largest decline over 1 year	-23.96%	-55.81%	+31.85%
Max Drawdown (3Y) Largest decline over 3 years	-58.93%	-55.81%	-3.12%
Max Drawdown (5Y) Largest decline over 5 years	-68.88%	-55.81%	-13.07%
Max Drawdown (10Y) Largest decline over 10 years	-81.31%	-82.45%	+1.14%
Current Drawdown Current decline from peak	-78.66%	-50.25%	-28.41%
Average Drawdown Average peak-to-trough decline	-45.49%	-69.90%	+24.41%
Ulcer Index Depth and duration of drawdowns from previous peaks	8.75%	28.11%	-19.36%

Volatility

INVX vs. HL - Volatility Comparison

The current volatility for Innovex International, Inc (INVX) is 10.54%, while Hecla Mining Company (HL) has a volatility of 17.79%. This indicates that INVX 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.

Volatility by Period

	INVX	HL	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.54%	17.79%	-7.25%
Volatility (6M) Calculated over the trailing 6-month period	30.46%	53.33%	-22.87%
Volatility (1Y) Calculated over the trailing 1-year period	41.58%	73.28%	-31.70%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	46.24%	59.43%	-13.19%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	46.64%	62.82%	-16.18%

Dividends

INVX vs. HL - Dividend Comparison

INVX has not paid dividends to shareholders, while HL's dividend yield for the trailing twelve months is around 0.09%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
HL Hecla Mining Company	0.09%	0.08%	0.81%	0.65%	0.40%	0.72%	0.25%	0.29%	0.42%	0.25%	0.19%	0.53%
INVX Innovex International, Inc	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Financials

INVX vs. HL - Profitability Comparison

The chart below illustrates the profitability comparison between Innovex International, Inc and Hecla Mining Company over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

INVX - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jul 2026, Innovex International, Inc reported a gross profit of 84.51M and revenue of 239.03M. Therefore, the gross margin over that period was 35.4%.

HL - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jul 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%.

INVX - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jul 2026, Innovex International, Inc reported an operating income of -21.83M and revenue of 239.03M, resulting in an operating margin of -9.1%.

HL - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jul 2026, Hecla Mining Company reported an operating income of 223.11M and revenue of 411.43M, resulting in an operating margin of 54.2%.

INVX - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jul 2026, Innovex International, Inc reported a net income of -16.67M and revenue of 239.03M, resulting in a net margin of -7.0%.

HL - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jul 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

Can I hold both INVX and HL in my portfolio?

INVX and HL have a correlation of 0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, INVX or HL?

HL has higher volatility (17.79%) compared to INVX (10.54%). In terms of maximum drawdown, INVX dropped -89.50% vs HL's -97.92%.

Which has better risk-adjusted returns?

HL currently has the higher Sharpe Ratio (2.32 vs 1.37), 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.