TOYO vs. HBM

Last updated Aug 1, 2026

TOYO (TOYO Co., Ltd) and HBM (Hudbay Minerals Inc.) are both stocks. TOYO operates in Solar (Technology), while HBM operates in Copper (Basic Materials). Over the past year, TOYO returned -15.57% vs 151.40% for HBM. Their 0.09 correlation means their historical movements had little consistent relationship.

Performance

TOYO vs. HBM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in TOYO Co., Ltd (TOYO) and Hudbay Minerals Inc. (HBM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TOYO achieves a -12.12% return, which is significantly lower than HBM's 14.68% return.

TOYO

• 1D: -0.39%
• 1M: -20.34%
• 6M: -34.31%
• YTD: -12.12%
• 1Y: -15.57%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: -20.03%

HBM

• 1D: 0.00%
• 1M: 0.71%
• 6M: -3.87%
• YTD: 14.68%
• 1Y: 151.40%
• 3Y*: 57.67%
• 5Y*: 26.31%
• 10Y*: 17.08%
• ALL TIME*: 10.79%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
HBM Hudbay Minerals Inc.	$126.91M	$110.72M	$140.65M
TOYO TOYO Co., Ltd	$3.20M	$3.92M	$6.87M

TOYO vs. HBM - Yearly Performance Comparison

	2026 (YTD)	2025	2024
TOYO TOYO Co., Ltd	-12.12%	73.37%	-58.78%
HBM Hudbay Minerals Inc.	14.68%	145.46%	-10.42%

Correlation

The correlation between TOYO and HBM is 0.24, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.24
Correlation (All Time) Calculated using the full available price history since Jul 1, 2024	0.09

The correlation between TOYO and HBM shifts across timeframes, from 0.09 (all time) to 0.24 (1 year), reflecting how their relationship changes across market environments.

Fundamentals

Market Cap TOYO : $220.00M HBM : $10.10B
Total Revenue (TTM) TOYO : $177.98M HBM : $2.49B
Gross Profit (TTM) TOYO : $18.34M HBM : $970.25M
EBITDA (TTM) TOYO : $19.98M HBM : $1.65B

Return for Risk

TOYO vs. HBM — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

TOYO

TOYO Risk / Return Rank: 42
TOYO Sharpe Ratio Rank: 40
TOYO Sortino Ratio Rank: 47
TOYO Omega Ratio Rank: 46
TOYO Calmar Ratio Rank: 40
TOYO Martin Ratio Rank: 38

HBM

HBM Risk / Return Rank: 91
HBM Sharpe Ratio Rank: 95
HBM Sortino Ratio Rank: 89
HBM Omega Ratio Rank: 89
HBM Calmar Ratio Rank: 92
HBM Martin Ratio Rank: 90

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

TOYO vs. HBM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for TOYO Co., Ltd (TOYO) 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.

	TOYO	HBM	Difference
Sharpe ratio: Return per unit of total volatility	-0.10	2.35	-2.45
Sortino ratio: Return per unit of downside risk	0.52	2.65	-2.13
Omega ratio: Gain probability vs. loss probability	1.07	1.35	-0.28
Calmar ratio: Return relative to maximum drawdown	-0.13	4.05	-4.18
Martin ratio: Return relative to average drawdown	-0.35	9.77	-10.12

TOYO vs. HBM - Sharpe Ratio Comparison

The current TOYO Sharpe Ratio is -0.10, which is lower than the HBM Sharpe Ratio of 2.35. The chart below compares the historical Sharpe Ratios of TOYO and HBM, 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

TOYO vs. HBM - Drawdown Comparison

The maximum TOYO drawdown since its inception was -81.10%, smaller than the maximum HBM drawdown of -92.21%. Use the drawdown chart below to compare losses from any high point for TOYO and HBM.

Drawdown Indicators

	TOYO	HBM	Difference
Max Drawdown Largest peak-to-trough decline	-81.10%	-92.21%	+11.11%
Max Drawdown (1Y) Largest decline over 1 year	-72.75%	-36.16%	-36.59%
Max Drawdown (3Y) Largest decline over 3 years	—	-41.11%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-63.33%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-86.34%	—
Current Drawdown Current decline from peak	-69.69%	-28.60%	-41.09%
Average Drawdown Average peak-to-trough decline	-42.93%	-52.26%	+9.33%
Ulcer Index Depth and duration of drawdowns from previous peaks	26.30%	14.98%	+11.32%

Volatility

TOYO vs. HBM - Volatility Comparison

TOYO Co., Ltd (TOYO) and Hudbay Minerals Inc. (HBM) have volatilities of 20.02% and 19.81%, 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.

Volatility by Period

	TOYO	HBM	Difference
Volatility (1M) Calculated over the trailing 1-month period	20.02%	19.81%	+0.21%
Volatility (6M) Calculated over the trailing 6-month period	83.63%	51.61%	+32.02%
Volatility (1Y) Calculated over the trailing 1-year period	91.88%	62.41%	+29.47%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	132.38%	55.91%	+76.47%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	132.38%	58.92%	+73.46%

Dividends

TOYO vs. HBM - Dividend Comparison

TOYO has not paid dividends to shareholders, while HBM'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
HBM Hudbay Minerals Inc.	0.09%	0.07%	0.17%	0.31%	0.32%	0.22%	0.21%	0.36%	0.38%	0.23%	0.35%	0.52%
TOYO TOYO Co., 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

Frequently Asked Questions

Can I hold both TOYO and HBM in my portfolio?

TOYO and HBM have a correlation of 0.24, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TOYO or HBM?

TOYO has higher volatility (20.02%) compared to HBM (19.81%). In terms of maximum drawdown, TOYO dropped -81.10% vs HBM's -92.21%.

Which has better risk-adjusted returns?

HBM currently has the higher Sharpe Ratio (2.35 vs -0.10), 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.