Platinum (XPT) and Copper (XCU) compared side by side. Over the past 90 days, XCU is ahead by 17.9 percentage points (XPT -12.5% against XCU +5.4%). Their daily returns move closely together (correlation 0.62 across 273 shared trading days). XPT has been the more volatile of the two, at 65% annualised against XCU's 33%.
| Period | XPT | XCU | Ahead |
|---|---|---|---|
| 7 days | -3.07% | -2.26% | XCU |
| 30 days | +3.11% | -1.74% | XPT |
| 90 days | -12.50% | +5.40% | XCU |
| Metric | XPT | XCU |
|---|---|---|
| Max drawdown (400d) | -45.6% | -13.5% |
| Risk-adjusted return (90d) | -0.27 | 0.17 |
Relative strength over 90 days: XCU outperformed XPT by 17.0% — measured on the XPT/XCU ratio, so it holds regardless of market direction.
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.