CENX vs HBM: Correlation
Century Aluminum Company (CENX) and Hudbay Minerals Inc. (HBM) show a moderate relationship: their 3-year correlation of weekly returns is 0.52.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CENX and HBM?
Across a 3-year window, the weekly returns of CENX and HBM correlate at 0.52, moderate. Lately the two have drifted apart, with the 1-year correlation at 0.40 versus 0.52 over 3 years. Stretching to 5 years gives 0.57, with an annualized covariance of 1885.0 %².
Among the 12 assets we track against CENX, HBM ranks #5 by 3-year correlation. Correlation aside, the last 12 months split them widely, with HBM ahead by 59.9 points (+102.2% versus +162.1%).
How is this computed?
Pearson correlation on weekly returns: ρ(A,B) = cov(rA, rB) / (σA · σB), over windows of 52, 156 and 260 weeks. Covariance is annualized (×52) and expressed in %². Full definitions on the methodology page.
CENX vs HBM: side by side
| CENX (Century Aluminum Company) | HBM (Hudbay Minerals Inc.) | |
|---|---|---|
| 1-year return | +102.2% | +162.1% |
| 5-year return | +270.4% | +401.3% |
| Volatility (ann.) | 67.1% | 53.7% |
| Beta vs S&P 500 | 2.12 | 1.73 |
| Max drawdown (3Y) | -42.8% | -41.1% |
| Market cap | $4.5B | $13.5B |
| P/E (trailing) | 7.9 | 18.4 |
| Dividend yield | 0.00% | 0.07% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CENX | HBM |
|---|---|---|
| 2022 | -50.6% | -29.9% |
| 2023 | +48.4% | +9.2% |
| 2024 | +50.1% | +47.0% |
| 2025 | +115.0% | +145.3% |
| 2026 | +17.1% | +53.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CENX and HBM good diversifiers for each other?
To a limited degree. At 0.52 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between CENX and HBM?
As of 2026-08-27, the correlation of weekly returns between CENX and HBM is 0.52 over 3 years, 0.40 over 1 year and 0.57 over 5 years.
Is HBM a good diversifier for CENX?
To a limited degree. At 0.52 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.52 mean?
A reading of 0.52 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/cenx-vs-hbm.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/cenx-vs-hbm/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CENX correlations · HBM correlations
