Gold (XAU) and Platinum (XPT) compared side by side. Over the past 90 days, XAU is ahead by 7.2 percentage points (XAU -4.2% against XPT -11.4%). Their daily returns move closely together (correlation 0.73 across 279 shared trading days). XPT has been the more volatile of the two, at 64% annualised against XAU's 34%.
XAUXPT
0.73over 279 shared trading days
Measured on daily returns rather than on prices. Two assets that both simply trend upward score near 1.0 on raw prices whether or not they move together, so returns are what answer the question people mean by correlation.
| Metric | XAU | XPT |
|---|---|---|
| Max drawdown (400d) | -26.7% | -49.8% |
| Risk-adjusted return (90d) | -0.17 | -0.28 |
Relative strength over 90 days: XAU outperformed XPT by 8.1% — measured on the XAU/XPT ratio, so it holds regardless of market direction.