Platinum (XPT) and Palladium (XPD) compared side by side. Over the past 90 days, XPT is ahead by 14.9 percentage points (XPT -11.4% against XPD -26.3%). Their daily returns move very closely together (correlation 0.86 across 279 shared trading days). Both have run at a similar volatility, around 65% annualised.
XPTXPD
0.86over 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 | XPT | XPD |
|---|---|---|
| Max drawdown (400d) | -49.8% | -57.1% |
| Risk-adjusted return (90d) | -0.28 | -0.56 |
Relative strength over 90 days: XPT outperformed XPD by 20.2% — measured on the XPT/XPD ratio, so it holds regardless of market direction.