HL vs SVM: Correlation
How closely do Hecla Mining Company (HL) and Silvercorp Metals Inc. (SVM) trade together? Their weekly returns over three years give a correlation of 0.75, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HL and SVM?
Over the past 3 years, HL and SVM moved with a correlation of 0.75, which is strong. Recent behaviour matches the longer record: 0.80 over 1 year against 0.75 over 3. Over 5 years the correlation is 0.77, and the annualized covariance of weekly returns is 2983.1 %².
Among the 16 assets we track against HL, SVM ranks #7 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months SVM outperformed by 20.8 percentage points (+167.1% for HL against +187.9% for SVM).
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.
HL vs SVM: side by side
| HL (Hecla Mining Company) | SVM (Silvercorp Metals Inc.) | |
|---|---|---|
| 1-year return | +167.1% | +187.9% |
| 5-year return | +265.0% | +222.0% |
| Volatility (ann.) | 66.9% | 59.2% |
| Beta vs S&P 500 | 1.50 | 1.33 |
| Max drawdown (3Y) | -55.8% | -43.8% |
| Market cap | $14.4B | $3.0B |
| P/E (trailing) | 24.9 | 122.4 |
| Dividend yield | 0.07% | 0.19% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | HL | SVM |
|---|---|---|
| 2022 | +7.0% | -20.6% |
| 2023 | -13.0% | -10.3% |
| 2024 | +2.8% | +14.9% |
| 2025 | +291.8% | +178.8% |
| 2026 | +11.7% | +61.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HL and SVM good diversifiers for each other?
Somewhat, no more. With 0.75 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between HL and SVM?
The HL/SVM correlation stands at 0.75 on a 3-year window (1 year: 0.80, 5 years: 0.77), computed from weekly returns as of 2026-08-27.
Is SVM a good diversifier for HL?
Somewhat, no more. With 0.75 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.75 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.
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Related comparisons
Hubs: HL correlations · SVM correlations
