EXK vs HL: Correlation
Measured on weekly returns over the past three years, Endeavour Silver Corporation (EXK) and Hecla Mining Company (HL) carry a correlation of 0.78, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EXK and HL?
Over the past 3 years, EXK and HL moved with a correlation of 0.78, which is strong. Little has changed lately, as the 1-year reading of 0.81 lands near the 3-year figure. Over 5 years the correlation is 0.80, and the annualized covariance of weekly returns is 3893.4 %².
By 3-year correlation, HL places #4 of the 16 assets tracked against EXK. Correlation aside, the last 12 months split them widely, with HL ahead by 76.9 points (+90.2% versus +167.1%).
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.
EXK vs HL: side by side
| EXK (Endeavour Silver Corporation) | HL (Hecla Mining Company) | |
|---|---|---|
| 1-year return | +90.2% | +167.1% |
| 5-year return | +146.7% | +265.0% |
| Volatility (ann.) | 74.1% | 66.9% |
| Beta vs S&P 500 | 1.93 | 1.50 |
| Max drawdown (3Y) | -51.3% | -55.8% |
| Market cap | $3.3B | $14.4B |
| P/E (trailing) | 53.8 | 24.9 |
| Dividend yield | 0.00% | 0.07% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | EXK | HL |
|---|---|---|
| 2022 | -23.2% | +7.0% |
| 2023 | -39.2% | -13.0% |
| 2024 | +85.8% | +2.8% |
| 2025 | +156.8% | +291.8% |
| 2026 | +20.2% | +11.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EXK and HL good diversifiers for each other?
Only partially. A correlation of 0.78 means EXK and HL share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between EXK and HL?
As of 2026-08-27, the correlation of weekly returns between EXK and HL is 0.78 over 3 years, 0.81 over 1 year and 0.80 over 5 years.
Is HL a good diversifier for EXK?
Only partially. A correlation of 0.78 means EXK and HL share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.78 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/exk-vs-hl.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/exk-vs-hl/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: EXK correlations · HL correlations
