MUX vs. HL
MUX (McEwen Mining Inc.) and HL (Hecla Mining Company) are both stocks. Both are in the Basic Materials sector — MUX in Other Precious Metals & Mining, HL in Gold. Over the past 10 years, MUX returned -6.07%/yr vs 13.44%/yr for HL. At a 0.37 correlation, their price movements are largely independent.
Performance
MUX vs. HL - Performance Comparison
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Returns By Period
In the year-to-date period, MUX achieves a 3.03% return, which is significantly higher than HL's -16.69% return. Over the past 10 years, MUX has underperformed HL with an annualized return of -6.07%, while HL has yielded a comparatively higher 13.44% annualized return.
MUX
- 1D
- -1.60%
- 1M
- -9.79%
- YTD
- 3.03%
- 6M
- -2.95%
- 1Y
- 110.72%
- 3Y*
- 39.33%
- 5Y*
- 5.78%
- 10Y*
- -6.07%
HL
- 1D
- 0.13%
- 1M
- -5.89%
- YTD
- -16.69%
- 6M
- -22.21%
- 1Y
- 177.27%
- 3Y*
- 48.12%
- 5Y*
- 15.83%
- 10Y*
- 13.44%
MUX vs. HL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MUX McEwen Mining Inc. | 3.03% | 137.92% | 7.91% | 23.04% | -33.90% | -10.00% | -22.44% | -30.01% | -19.78% | -21.37% |
HL Hecla Mining Company | -16.69% | 291.70% | 2.82% | -12.93% | 6.99% | -18.97% | 91.83% | 44.43% | -40.37% | -24.08% |
Correlation
The correlation between MUX and HL is 0.72, 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 | 0.72 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.69 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.69 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.64 |
Correlation (All Time) Calculated using the full available price history since Feb 14, 1985 | 0.37 |
Over the past year, MUX and HL have become more correlated (0.72) than their long-term average of 0.37, meaning their price movements have been converging.
Fundamentals
MUX:
$1.38B
HL:
$10.79B
MUX:
$1.26
HL:
$0.84
MUX:
15.18
HL:
19.00
MUX:
0.44
HL:
0.08
MUX:
6.93
HL:
6.76
MUX:
2.12
HL:
4.20
MUX:
$161.86M
HL:
$1.57B
MUX:
$53.23M
HL:
$788.95M
MUX:
$52.58M
HL:
$864.40M
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Return for Risk
MUX vs. HL — Risk / Return Rank
MUX
HL
MUX vs. HL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for McEwen Mining Inc. (MUX) 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.
| MUX | HL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.81 | ||
| Sortino ratioReturn per unit of downside risk | -0.66 | ||
| Omega ratioGain probability vs. loss probability | 1.28 | 1.35 | -0.07 |
| Calmar ratioReturn relative to maximum drawdown | 2.75 | 3.20 | -0.45 |
| Martin ratioReturn relative to average drawdown | 6.38 | 6.95 | -0.58 |
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Drawdowns
MUX vs. HL - Drawdown Comparison
The maximum MUX drawdown since its inception was -99.67%, roughly equal to the maximum HL drawdown of -97.92%. Use the drawdown chart below to compare losses from any high point for MUX and HL.
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Drawdown Indicators
| MUX | HL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.67% | -97.92% | -1.75% |
Max Drawdown (1Y)Largest decline over 1 year | -40.48% | -55.81% | +15.33% |
Max Drawdown (3Y)Largest decline over 3 years | -46.49% | -55.81% | +9.32% |
Max Drawdown (5Y)Largest decline over 5 years | -80.47% | -57.07% | -23.40% |
Max Drawdown (10Y)Largest decline over 10 years | -93.89% | -82.45% | -11.44% |
Current DrawdownCurrent decline from peak | -93.66% | -49.74% | -43.92% |
Average DrawdownAverage peak-to-trough decline | -86.48% | -69.92% | -16.56% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 17.43% | 25.60% | -8.17% |
Volatility
MUX vs. HL - Volatility Comparison
McEwen Mining Inc. (MUX) and Hecla Mining Company (HL) have volatilities of 21.38% and 20.82%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MUX | HL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 21.38% | 20.82% | +0.56% |
Volatility (6M)Calculated over the trailing 6-month period | 51.06% | 54.33% | -3.27% |
Volatility (1Y)Calculated over the trailing 1-year period | 68.43% | 73.18% | -4.75% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 63.42% | 59.32% | +4.10% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 63.89% | 62.83% | +1.06% |
Dividends
MUX vs. HL - Dividend Comparison
MUX 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% |
MUX McEwen Mining Inc. | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.39% | 0.55% | 0.44% | 0.34% | 0.47% |
Financials
MUX vs. HL - Financials Comparison
This section allows you to compare key financial metrics between McEwen Mining 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
Frequently Asked Questions
MUX and HL have a correlation of 0.72, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MUX has higher volatility (21.38%) compared to HL (20.82%). In terms of maximum drawdown, MUX dropped -99.67% vs HL's -97.92%.
HL currently has the higher Sharpe Ratio (2.44 vs 1.63), 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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