Concordium (CCD) is 34.4× the size of ORCIB (PALMO) by market capitalisation. Over the past 30 days, PALMO is ahead by 9.7 percentage points (PALMO -19.3% against CCD -29.0%). Their daily returns move loosely together (correlation 0.55 across 33 shared trading days). Both have run at a similar volatility, around 95% annualised.
PALMOCCD
0.55over 33 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 | PALMO | CCD |
|---|---|---|
| Max drawdown (400d) | -36.0% | -36.5% |
| Risk-adjusted return (90d) | -0.09 | -0.27 |
Relative strength over 90 days: PALMO outperformed CCD by 38.6% — measured on the PALMO/CCD ratio, so it holds regardless of market direction.