CMCL vs. APLD
CMCL (Caledonia Mining Corporation Plc) and APLD (Applied Digital Corporation) are both stocks. CMCL operates in Gold (Basic Materials), while APLD operates in Information Technology Services (Technology). Over the past 5 years, CMCL returned 12.13%/yr vs 112.30%/yr for APLD. At a 0.11 correlation, their price movements are largely independent.
Performance
CMCL vs. APLD - Performance Comparison
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Returns By Period
In the year-to-date period, CMCL achieves a -21.95% return, which is significantly lower than APLD's 74.14% return.
CMCL
- 1D
- 3.65%
- 1M
- -11.88%
- YTD
- -21.95%
- 6M
- -20.06%
- 1Y
- 6.09%
- 3Y*
- 20.06%
- 5Y*
- 12.13%
- 10Y*
- —
APLD
- 1D
- 2.97%
- 1M
- 0.33%
- YTD
- 74.14%
- 6M
- 53.27%
- 1Y
- 281.93%
- 3Y*
- 69.23%
- 5Y*
- 112.30%
- 10Y*
- 125.13%
CMCL vs. APLD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CMCL Caledonia Mining Corporation Plc | -21.95% | 186.75% | -18.90% | 2.65% | 11.39% | -23.84% | 93.29% | 67.37% | -26.33% | 20.43% |
APLD Applied Digital Corporation | 74.14% | 220.94% | 13.35% | 266.30% | -56.09% | 11,789.90% | 389.44% | -34.55% | 64.99% | -16.66% |
Correlation
The correlation between CMCL and APLD is 0.25, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.25 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.20 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.17 |
Correlation (All Time) Calculated using the full available price history since Jun 29, 2017 | 0.11 |
The correlation between CMCL and APLD shifts across timeframes, from 0.11 (all time) to 0.25 (1 year), reflecting how their relationship changes across market environments.
Fundamentals
CMCL:
$399.89M
APLD:
$11.60B
CMCL:
$3.15
APLD:
-$0.72
CMCL:
1.45
APLD:
28.94
CMCL:
1.47
APLD:
7.37
CMCL:
$274.16M
APLD:
$390.57M
CMCL:
$142.30M
APLD:
$124.93M
CMCL:
$137.13M
APLD:
-$154.66M
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Return for Risk
CMCL vs. APLD — Risk / Return Rank
CMCL
APLD
CMCL vs. APLD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Caledonia Mining Corporation Plc (CMCL) and Applied Digital Corporation (APLD). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| CMCL | APLD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.22 | ||
| Sortino ratioReturn per unit of downside risk | -2.41 | ||
| Omega ratioGain probability vs. loss probability | 1.06 | 1.33 | -0.27 |
| Calmar ratioReturn relative to maximum drawdown | 0.07 | 4.83 | -4.76 |
| Martin ratioReturn relative to average drawdown | 0.13 | 11.72 | -11.58 |
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Drawdowns
CMCL vs. APLD - Drawdown Comparison
The maximum CMCL drawdown since its inception was -65.77%, smaller than the maximum APLD drawdown of -99.73%. Use the drawdown chart below to compare losses from any high point for CMCL and APLD.
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Drawdown Indicators
| CMCL | APLD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -65.77% | -99.73% | +33.96% |
Max Drawdown (1Y)Largest decline over 1 year | -49.43% | -50.31% | +0.88% |
Max Drawdown (3Y)Largest decline over 3 years | -49.43% | -76.66% | +27.23% |
Max Drawdown (5Y)Largest decline over 5 years | -50.00% | -82.61% | +32.61% |
Max Drawdown (10Y)Largest decline over 10 years | — | -89.80% | — |
Current DrawdownCurrent decline from peak | -45.57% | -14.00% | -31.57% |
Average DrawdownAverage peak-to-trough decline | -35.78% | -74.86% | +39.08% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 25.12% | 21.22% | +3.90% |
Volatility
CMCL vs. APLD - Volatility Comparison
The current volatility for Caledonia Mining Corporation Plc (CMCL) is 14.52%, while Applied Digital Corporation (APLD) has a volatility of 33.15%. This indicates that CMCL experiences smaller price fluctuations and is considered to be less risky than APLD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CMCL | APLD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 14.52% | 33.15% | -18.63% |
Volatility (6M)Calculated over the trailing 6-month period | 47.45% | 80.49% | -33.04% |
Volatility (1Y)Calculated over the trailing 1-year period | 65.21% | 107.13% | -41.92% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 52.74% | 165.20% | -112.46% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 54.57% | 301.46% | -246.89% |
Dividends
CMCL vs. APLD - Dividend Comparison
CMCL's dividend yield for the trailing twelve months is around 2.78%, while APLD has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
APLD Applied Digital Corporation | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
CMCL Caledonia Mining Corporation Plc | 2.78% | 2.14% | 5.95% | 4.59% | 4.52% | 4.29% | 2.11% | 3.27% | 5.23% | 1.86% |
Financials
CMCL vs. APLD - Financials Comparison
This section allows you to compare key financial metrics between Caledonia Mining Corporation Plc and Applied Digital Corporation. You can select fields from income statements, balance sheets, and cash flow statements to easily visualize and compare the financial health of both companies.
Total Revenue: Total amount of money received from sales and other business activities
CMCL vs. APLD - Profitability Comparison
CMCL - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Caledonia Mining Corporation Plc reported a gross profit of 32.10M and revenue of 66.43M. Therefore, the gross margin over that period was 48.3%.
APLD - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Applied Digital Corporation reported a gross profit of 82.52M and revenue of 161.76M. Therefore, the gross margin over that period was 51.0%.
CMCL - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Caledonia Mining Corporation Plc reported an operating income of 26.87M and revenue of 66.43M, resulting in an operating margin of 40.4%.
APLD - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Applied Digital Corporation reported an operating income of -62.13M and revenue of 161.76M, resulting in an operating margin of -38.4%.
CMCL - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Caledonia Mining Corporation Plc reported a net income of 15.85M and revenue of 66.43M, resulting in a net margin of 23.9%.
APLD - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Applied Digital Corporation reported a net income of -104.11M and revenue of 161.76M, resulting in a net margin of -64.4%.
Frequently Asked Questions
CMCL and APLD have a correlation of 0.25, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
APLD has higher volatility (33.15%) compared to CMCL (14.52%). In terms of maximum drawdown, CMCL dropped -65.77% vs APLD's -99.73%.
APLD currently has the higher Sharpe Ratio (2.27 vs 0.05), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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