HYMC vs NEXA: Correlation
Hycroft Mining Holding Corporation (HYMC) and Nexa Resources S.A. (NEXA) show a moderate relationship: their 3-year correlation of weekly returns is 0.43.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HYMC and NEXA?
On 3 years of weekly data the HYMC/NEXA correlation comes out at 0.43, moderate. The link has tightened recently: the 1-year correlation (0.66) runs above the 3-year figure (0.43). The 5-year figure is 0.20, and annualized covariance runs at 2189.1 %².
Among the 12 assets we track against HYMC, NEXA ranks #6 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months HYMC outperformed by 327.5 percentage points (+522.5% for HYMC against +195.0% for NEXA). One caveat on sizing: HYMC is 1.8 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
HYMC vs NEXA: side by side
| HYMC (Hycroft Mining Holding Corporation) | NEXA (Nexa Resources S.A.) | |
|---|---|---|
| 1-year return | +522.5% | +195.0% |
| 5-year return | +28.5% | +88.5% |
| Volatility (ann.) | 96.6% | 52.5% |
| Beta vs S&P 500 | 0.99 | 1.09 |
| Max drawdown (3Y) | -66.9% | -47.0% |
| Market cap | $2.4B | $1.8B |
| P/E (trailing) | – | 6.7 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | HYMC | NEXA |
|---|---|---|
| 2022 | -13.4% | -20.1% |
| 2023 | -53.9% | +22.1% |
| 2024 | -9.8% | +23.2% |
| 2025 | +975.6% | +2.7% |
| 2026 | +9.2% | +58.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HYMC and NEXA good diversifiers for each other?
A fair diversifier. At 0.43, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between HYMC and NEXA?
The HYMC/NEXA correlation stands at 0.43 on a 3-year window (1 year: 0.66, 5 years: 0.20), computed from weekly returns as of 2026-08-27.
Is NEXA a good diversifier for HYMC?
A fair diversifier. At 0.43, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.43 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/hymc-vs-nexa.json
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Related comparisons
Hubs: HYMC correlations · NEXA correlations
