NAK vs. HBM
NAK (Northern Dynasty Minerals Ltd.) and HBM (Hudbay Minerals Inc.) are both stocks. Both are in the Basic Materials sector — NAK in Other Industrial Metals & Mining, HBM in Copper. Over the past 10 years, NAK returned 20.01%/yr vs 19.31%/yr for HBM. At a 0.34 correlation, their price movements are largely independent.
Performance
NAK vs. HBM - Performance Comparison
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Returns By Period
In the year-to-date period, NAK achieves a 3.55% return, which is significantly lower than HBM's 40.23% return. Both investments have delivered pretty close results over the past 10 years, with NAK having a 20.01% annualized return and HBM not far behind at 19.31%.
NAK
- 1D
- 4.62%
- 1M
- -9.33%
- YTD
- 3.55%
- 6M
- -5.12%
- 1Y
- 65.85%
- 3Y*
- 109.20%
- 5Y*
- 29.51%
- 10Y*
- 20.01%
HBM
- 1D
- 4.43%
- 1M
- 0.32%
- YTD
- 40.23%
- 6M
- 49.02%
- 1Y
- 189.83%
- 3Y*
- 78.89%
- 5Y*
- 31.42%
- 10Y*
- 19.31%
NAK vs. HBM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
NAK Northern Dynasty Minerals Ltd. | 3.55% | 238.78% | 79.86% | 46.42% | -32.31% | 1.30% | -25.12% | -24.46% | -67.84% | -14.49% |
HBM Hudbay Minerals Inc. | 40.23% | 145.46% | 47.03% | 9.24% | -29.87% | 3.82% | 69.50% | -11.77% | -46.20% | 54.77% |
Correlation
The correlation between NAK and HBM is 0.53, 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 | 0.53 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.37 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.37 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.31 |
Correlation (All Time) Calculated using the full available price history since Feb 13, 2009 | 0.34 |
The correlation between NAK and HBM shifts across timeframes, from 0.31 (10 years) to 0.53 (1 year), reflecting how their relationship changes across market environments.
Fundamentals
NAK:
$1.12B
HBM:
$11.09B
NAK:
-CA$0.19
HBM:
$1.65
NAK:
88.47
HBM:
3.13
NAK:
CA$0.00
HBM:
$2.37B
NAK:
-CA$85.85K
HBM:
$828.54M
NAK:
-CA$99.80M
HBM:
$1.54B
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Return for Risk
NAK vs. HBM — Risk / Return Rank
NAK
HBM
NAK vs. HBM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Northern Dynasty Minerals Ltd. (NAK) and Hudbay Minerals Inc. (HBM). 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.
| NAK | HBM | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.66 | ||
| Sortino ratioReturn per unit of downside risk | -1.76 | ||
| Omega ratioGain probability vs. loss probability | 1.22 | 1.44 | -0.21 |
| Calmar ratioReturn relative to maximum drawdown | 0.98 | 5.28 | -4.31 |
| Martin ratioReturn relative to average drawdown | 1.67 | 16.41 | -14.74 |
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Drawdowns
NAK vs. HBM - Drawdown Comparison
The maximum NAK drawdown since its inception was -99.01%, which is greater than HBM's maximum drawdown of -92.21%. Use the drawdown chart below to compare losses from any high point for NAK and HBM.
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Drawdown Indicators
| NAK | HBM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.01% | -92.21% | -6.80% |
Max Drawdown (1Y)Largest decline over 1 year | -67.68% | -36.16% | -31.52% |
Max Drawdown (3Y)Largest decline over 3 years | -67.68% | -41.11% | -26.57% |
Max Drawdown (5Y)Largest decline over 5 years | -67.68% | -63.33% | -4.35% |
Max Drawdown (10Y)Largest decline over 10 years | -93.79% | -86.34% | -7.45% |
Current DrawdownCurrent decline from peak | -90.32% | -12.68% | -77.64% |
Average DrawdownAverage peak-to-trough decline | -73.93% | -52.45% | -21.48% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 39.60% | 11.62% | +27.98% |
Volatility
NAK vs. HBM - Volatility Comparison
Northern Dynasty Minerals Ltd. (NAK) and Hudbay Minerals Inc. (HBM) have volatilities of 26.03% and 25.87%, 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
| NAK | HBM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 26.03% | 25.87% | +0.16% |
Volatility (6M)Calculated over the trailing 6-month period | 77.41% | 47.72% | +29.69% |
Volatility (1Y)Calculated over the trailing 1-year period | 115.33% | 59.13% | +56.20% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 83.81% | 55.51% | +28.30% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 97.90% | 58.82% | +39.08% |
Dividends
NAK vs. HBM - Dividend Comparison
NAK has not paid dividends to shareholders, while HBM's dividend yield for the trailing twelve months is around 0.08%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HBM Hudbay Minerals Inc. | 0.08% | 0.07% | 0.17% | 0.31% | 0.32% | 0.22% | 0.21% | 0.36% | 0.38% | 0.23% | 0.35% | 0.52% |
NAK Northern Dynasty Minerals Ltd. | 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
NAK vs. HBM - Financials Comparison
This section allows you to compare key financial metrics between Northern Dynasty Minerals Ltd. and Hudbay Minerals Inc.. 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
NAK and HBM have a correlation of 0.53, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
NAK has higher volatility (26.03%) compared to HBM (25.87%). In terms of maximum drawdown, NAK dropped -99.01% vs HBM's -92.21%.
HBM currently has the higher Sharpe Ratio (3.23 vs 0.57), 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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